The latest and most modern bank, Tymebank has reached 1.2 million customers, 400 000 of them having being added during the lockdown period.
Everything being digital about the bank seems to attract people to it.
It seems many people have opted for it considering going out to make the usual purchases was not an option during the pandemic and everything had to be done online.
This service may have benefited many because of the low bank fees as well.
Tymebank stated that 60% of the 1.2 million customers are active users, while the remaining 40% are not.
When the bank was launched, in February 2019, they set a target of getting 2 million customers by the end of 2020, this means that their calculations are still on track, if everything continues to go well.
In addition to gaining individual customers they have also gained 18 000 small businesses, this may also be because of the lockdown and the fact that many people are trying to make an income while they are at home.
This branchless bank went straight into the fourth industrial revolution by not having branches and just going digital from day one.
This has made them popular and many people are beginning to trust them.