Neo-banking X-border | Coen Jonker, Tyme | VOX Ep. 39

Coenraad Jonker is CEO of Tyme Bank, a neo-bank that originated in South Africa and is now serving customers in the Philippines.

Coen speaks with Jame DiBiasio about how challenger banks can be profitable while pursuing goals around financial inclusion, as well as the business, data and tech models required to succeed.

Tyme has a hybrid model involving in-store kiosks that gives it a twist in the market. He outlines the factors that made Tyme decide to enter the Philippines and why it is also now looking to get a license in Pakistan, and concludes by thinking about what digital banking may look like in the coming years.

• Timecodes:
• 0:00 – Coen Jonker, Tyme Bank
• 1:24 – Coen’s transition from traditional banking to digital banking
• 2:14 – How challenger banks can make money: cost base, tech, user experience
• 4:07 – Balancing a digital bank within a regulated environment, banks versus fintechs
• 5:46 – Funding sources, deposits, transactions
• 7:58 – What differentiates Tyme as a neo-bank
• 10:36 – Tyme’s physical kiosks
• 12:46 – Making a neo-bank a customer’s primary account
• 14:11 – The opportunity in the Philippines…
• 15:58 – …versus other emerging markets in Asia
• 17:36 – Competing with other digital banks in the Philippines
• 19:51 – Managing relations with a powerful distribution partner
• 20:45 – The strategy behind entering Pakistan
• 22:37 – Open banking, data in and data out, data use cases
• 25:48 – Scaling digital banking across countries
• 28:21 – 5G, IoT and the digital bank of the future