New chapter for billionaire Patrice Motsepe’s banking giant

TymeBank has officially changed its name to GoTyme Bank, marking a new chapter in the bank’s evolution.

The bank forms part of the Tyme Group, which was founded in 2019 by Coenraad Jonker and Tjaart van der Walt, backed by institutional shareholders, including billionaire businessman Patrice Motsepe.

The group currently operates across multiple markets and serves 20 million customers worldwide.

“The GoTyme Bank brand more clearly expresses the bank’s global alignment and focus on delivering a modern, digital-first banking experience that is simple, transparent, and affordable,” the company said on Wednesday, 4 February. 

“This evolution of the bank’s brand reflects the scale, maturity, and ambition of the business, while maintaining full continuity for customers.”

GoTyme’s new CEO, Cheslyn Jacobs, who took the helm at the start of this year, said the new name reflects who the company is today and where it’s going next.

“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,” he said.

This name change includes a refreshed digital experience through the newly launched GoTyme app, which went live earlier this year.

As part of the transition, the new GoTyme Bank app went live on 22 January, supporting a phased migration of customers. 

The company said the app’s rollout is being managed deliberately to prioritise security, stability, and customer experience.

The phased rollout of the app will introduce additional features progressively over the coming weeks, alongside continued enhancements to payments, savings, and customer support.

This approach allows the bank to incorporate customer feedback as it scales.

“The app introduces a cleaner and more modern design, improved performance, stronger security features, and a more intuitive way for customers to save, spend, send money, and manage their finances,” the company said. 

Importantly, existing customers do not need to open a new account to use the GoTyme Bank app. 

“All customer information – including accounts, balances, and transaction history – has already been migrated,” the company explained. 

“Customers simply need to download the new GoTyme Bank app and sign in using their existing details to access their accounts.” 

“This ensures continuity and ease, while allowing customers to benefit from the improved app experience and new features as they are rolled out.”

GoTyme Bank’s head of brand, Lucia Malapane, said the bank has taken the opportunity to rethink how the brand shows up in its customers’ lives. 

“The GoTyme brand is about momentum, clarity, and confidence, and the new app is where customers will experience that most directly,” Malapane said.

Looking ahead, the company said GoTyme Bank will continue investing in digital innovation, supported by the scale and technology of the global Tyme Group. The new chapter signals confidence in the bank’s long-term role in delivering empowering, affordable banking to millions of South Africans.

GoTyme Bank remains the same licensed and regulated South African bank, with no changes to customer accounts, balances, products, ownership, or regulatory oversight.