GoTyme Bank believes technology can make a more sophisticated banking experience accessible to a wider market. Its latest growth figures suggest the model is gaining traction, but its next challenge will be proving that better access also means better customer outcomes.
For decades, access to premium banking has been closely associated with wealth. Customers with substantial assets have traditionally enjoyed dedicated relationship managers, tailored lending solutions, investment opportunities and more personalised service. For the mass market, banking has often been more transactional, with standardised products and limited access to personalised support.
But what if the difference between these experiences is not necessarily about the wealth of the customer, but the cost of delivering the service?
This is the question at the centre of the evolving proposition of GoTyme Bank (formerly TymeBank). The bank believes technology can change the economics of banking, making elements traditionally associated with premium banking accessible to a much broader customer base.
At its media briefing in Johannesburg on 29 October, GoTyme described 2026 as its “best year yet”. Net customer advances increased by 126% to R5.08 billion, deposits grew 27% to R9.69 billion, and total income rose 25% to R2.72 billion.
The bank now serves more than 13 million customers and expects to become South Africa’s third-largest bank by monthly active users in the first quarter of 2027.
But beyond the growth figures, the more interesting question is whether its operating model can deliver a higher standard of service without the cost structures traditionally associated with it.
Changing the economics of banking
In my conversation with CEO Cheslyn Jacobs, I asked how GoTyme intends to deliver a premium banking experience at scale.
His argument was that technology allows the bank to deliver services at a fraction of the cost of traditional banking models.
Technology is often discussed in banking in terms of convenience and speed. Its greater commercial potential, however, may lie in its ability to reduce the cost of delivering services, allowing banks to redirect resources towards more complex customer needs.
Jacobs drew a parallel with the way artificial intelligence has opened up access to skills. Skills that were once difficult to access because of the cost of formal training can now be learned using AI tools. Technology does not automatically make everyone an expert, but it lowers the barriers to acquiring knowledge and capabilities.
The same question applies to financial services: should access to sophisticated financial tools and excellent service be determined primarily by how much money a customer has?
This thinking also emerged in discussions with Jacobs and Nolwazi Nzama, GoTyme’s Group Executive: Operations. They challenged the assumption that customers on lower incomes should automatically be offered less sophisticated financial products because of their financial circumstances.
There are legitimate reasons for caution, particularly around affordability and the risks of inappropriate lending. But protecting customers is not the same as assuming they lack the ability to understand financial products.
During the briefing, Jacobs demonstrated features in the app, including access to investment-related educational content. He also highlighted a card setting designed to encourage customers to spend from their transactional account rather than automatically drawing on savings.
These are relatively small product decisions, but they point to a broader philosophy: customers should be equipped with tools that encourage financial awareness and control, rather than having their access limited by assumptions about their income.
The next test: lending and investments
GoTyme’s 2027 roadmap points to a deeper relationship with customers. It includes a credit card, an evolution of its MoreTyme buy-now-pay-later product, expanded personal lending through its Sanlam partnership, a new rewards proposition and plans to provide simpler access to investments and digital assets, subject to the necessary regulatory and licensing approvals.
This expansion introduces a more complex set of responsibilities.
The 126% growth in customer advances is significant, but lending growth alone does not establish the quality or sustainability of a credit portfolio. As the bank expands its offering, affordability assessments, responsible lending and customer outcomes will matter as much as the number of loans issued.
Similarly, broader access to investments must come with appropriate risk disclosures and education. Financial inclusion cannot simply mean making credit and investment products easier to access. Customers must understand the risks and obligations attached to them.
Can digital banking still feel human?
GoTyme’s customer experience performance offers another indication of its progress. In the latest Ask Afrika Orange Index, the bank moved from sixth to second place in the banking category in one year. It is also on track to have 140 customer hubs operational across the country by year-end.
Nzama says customers should not have to choose between good technology and good service, an idea the bank has captured under the banner “GoHuman”.
“Sometimes the best experience is solving something yourself in seconds. Sometimes you need a real person. GoHuman is about making both possible,” she said.
That distinction matters. A premium banking experience is not simply about having a sophisticated app. It is also about responsiveness, accountability and having someone take ownership when things go wrong.
These expectations are not exclusive to wealthy customers. A customer dealing with fraud, a disputed transaction or financial difficulty deserves the same level of attention, regardless of their account balance.
GoTyme’s improved ranking is encouraging, but the real test will be whether it can maintain those standards as its customer base and product offering expand.
Ultimately, GoTyme needs to convince two markets. It must show customers who have historically received standardised banking services that they do not need to be wealthy to receive excellent service. And it must show affluent customers that a premium experience does not have to carry a traditional private-banking price tag.
Technology may make that proposition commercially possible. But the real measure of success will be whether the efficiencies translate into better value, responsible products and consistently better customer experiences.
The question is no longer simply whether technology can make banking cheaper. It is whether it can make excellent banking less dependent on wealth.