Bank Zero Co-Founder Michael Jordaan Shares What Makes The Digital Bank Unique
Bank Zero Co-Founder Michael Jordaan Shares What Makes The Digital Bank Unique. South African entrepreneur and co-founder of Bank Zero, Michael Jordaan shared what he thinks makes Bank Zero unique to other banks, he explained this in an interview with C-SUITE.
Jordaan said, “Clearly developing the functionality to allow businesses to sign up is quite complex, typically in fact as a rule, banks require businesses to go into a branch and complete quite complex paper work and it’s also similar paper work when for example you change the mandate that one person has or if the shareholding of the company changes and we programmed everything so that-that can be done on a smartphone. Having done that now we believe we are the only bank in South Africa that allows electronic sign up and electronic banking for free, so this is a massive thing for businesses and fortunately they are responding to the call.”
Having a distinguishable factor as a business is something that every business should strive towards as this will make the business much more visible. People always want businesses to create solutions to the problems that exist, when a problem is solved in a unique manner, it will make the business memorable and therefore it will make it gain a loyal customer base as well a new customers just because of its unique approach to solving problems.
Many people right now, especially because of the pandemic are opting to do their business transactions online, therefore Bank Zero implementing this electronic sign ups and electronic banking makes it easier for people to use their services, this will make the company much more lucrative as it was able to adapt to the times and give people alternative solutions.
Bank Zero, registered with the South African Reserve Bank in 2018, is an exclusively digital mutual bank in South Africa. It offers banking to both individuals and businesses. Bank Zero joins other new banks in South Africa, such as TymeBank.
