NewBank coming to SA: Cardless, do it all on one app service

What are these whispers of a new bank launching in four days?

Here’s what we know so far.

I have always found space and technology very interesting. To realise how many technological advancements we've achieved at this point. With #Newbank, high-tech farming is made possible, so you can run your farm from the sky. Very intriguing, right?#Newbank coming soon 18/10/22 pic.twitter.com/GFhrwJlbcx

— Baloyi Rick (@BaloyiRick) October 14, 2022

We know it’s modern and cards are most likely to be a thing of the past.

We know that some type of launch for the NewBank which kicks off on Tuesday 18 October 2022.

We know there’s a campaign and a link leading to a potential website.

From our preliminary investigations, we’re convinced it’s not a bank, but a very bad hoax.

A countdown however ends on Tuesday and the online discussions are that the potential bank promises to promote shopping convenience and card-less transactions.

A bank that brings convenience by allowing me to do it all on one app? Sign me up! 🔥 #NewBank #ad 18•10•22

Check it out 😎 : https://t.co/1B9PsT0MZ0 pic.twitter.com/iIRomQDqk4

— thoko_khusela (@ThokoKhusela) October 14, 2022

As an entrepreneur, I am always looking 4 ways to make my business run smooth, now that I just heard about the #NewBank, a bank that lets me run my business through the internet, this is a bank I want to be part of, just 4days left till the launch 🖇️ https://t.co/JXNVHiyuh8#ad pic.twitter.com/DkXGP4yOLp

— Enny Does It All❤ (@Queen_Enny19) October 14, 2022

 

 

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Our suspicions are that its a bank by former FNB CEO Michael Jordaan, bank Zero.

Bank Zero was expected to operate as a mutual savings bank and not a retail bank.

This means the bank would have been owned by it’s members who subscribe to a common fund while retail banks generally are owned by shareholders.

The bank was expected to launch in 2018, 2019 but the Covid19 pandemic struck and there was no other feedback on the potential bank.

We suspect that the bank is finally here.

The bank would focus more on savings as opposed to providing credit.

It would be entirely digital and handle all of it’s services using it’s very own app.

This Bank Zero feature is enough reason to join Bank Zero. ALL online card transactions are approved by you – either on your phone as it happens, or because you’ve listed it on your auto-auth Card Subscriptions list. Otherwise we’ll block it to protect you. https://t.co/EJgNujyTss

— Bank Zero (@BankZeroSA) September 10, 2022

Do you see it now?

Watch new bank launch here

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