South African digital lender TymeBank has officially rebranded as GoTyme Bank, aligning its local operations with the branding used across the wider Tyme Group.

The transition includes the launch of a new GoTyme Bank mobile app, which went live on 22 January and is being rolled out in phases.

The bank said the migration is designed to prioritise system stability, security and customer experience.

Existing customers are not required to open new accounts.

Account details, balances and transaction histories have already been migrated, and customers can access their accounts by downloading the new app and logging in with their current credentials.

“GoTyme Bank reflects who we are today and where we’re going next as part of a global banking group with a strong South African foundation. This is not a change to our fundamentals.

It’s the same bank, built on the same licence and principles, now expressed through a brand and platform that better reflects our scale, technology, and ambition.”

said Cheslyn Jacobs, Chief Executive Officer of GoTyme Bank South Africa.

The digital banking group operates across markets including the Philippines, Hong Kong, Indonesia, Vietnam and Singapore, serving around 20 million customers globally.

The new app features an updated interface alongside performance and security enhancements.

Additional features are expected to be introduced progressively as part of the phased rollout.

Launched in February 2019, GoTyme Bank has grown to serve more than 12 million customers in South Africa.

The bank said there are no changes to customer products, balances, ownership structure or regulatory oversight following the rebrand.

This article first appeared on Fintech News Singapore. 

Featured image: Edited by Fintech News Middle East, based on image by smth.design via Freepik