The South Africa’s digital bank TymeBank has appointed a new chief executive officer (CEO), Tauriq Keraan which was announced by the board of directors of the bank.
Recently, in a statement, the digital bank said, :Keraan who was formerly the Deputy CEO has played an instrumental role in the bank’s development, having been a member of the team that led to Tyme’s inception in 2012 and played a critical role in the market launch of TymeBank in 2019.
Consequently, the former CEO of the bank Sandile Shabalala resigned for personal reasons. And Keraan takes the reins as the bank reached the 600,000 customer mark, five months after its official launch. The leadership gave a positive impact.
The Co-chief executive officer (CO-CEO) of African Rainbow Capital, controlling shareholder of TymeBank Johan Van Zyl said, :Tauriq takes the reins at an important point in TymeBank’s evolution to ensure customer enrolment is sustained over the coming months and beyond.
“Given his experience, both as a member of the team that launched TymeBank, and as someone who has worked in the space of digital innovation for more than a decade, both the TymeBank board and ARC, believe he will lead his executive team to implement the business strategy successfully.” Johan added.
The management previously communicated that the overall market size of its target segment is estimated at about 20 million people of which it is aiming to acquire 2 million over a three-year period.
“We’re achieving this through digital banking innovation that uses cutting-edge technology, alternative distribution models and deep data-driven insights to better understand customers’ behaviour and needs and meet them in a relevant, responsible and cost-effective way,” Keraan assured.