Bank Zero, South Africa's newest banking platform, will be starting its trial runs in preparation for its official launch in 2019.
The bank has already integrated with the national payments systems of the SA Reserve Bank and announced two strategic partnerships with IBM and Mastercard to tighten up security protocols.
Co-founder and chairperson, Michael Jordaan says one of their aims is to reduce the amount customers pay in banking fees.
The bank will be accessible to anyone with a smartphone and business. We think the business segment in South Africa is somewhat neglected.— Michael Jordaan, Co-founder and chairperson
We are trying to make it as simple as possible that you don't ever have to go to a branch to sign forms and paperwork.— Michael Jordaan, Co-founder and chairperson
Bank Zero will begin beta testing during the first quarter of 2019 and expects public operations to begin around mid-2019.
To hear the rest of the conversation with Michael Jordan, listen below: