South Africa’s banking sector is dominated by antiquated brands. But they’re starting to feel the heat. Iconic brands are being challenged and changed. Since 2019, digital banks backed by big brands like Tyme, Bank Zero and Bettr have launched, ushering in a new era of banking and financial services.
In this volatile marketplace, what happens when a world-renowned brand like Virgin Money exits South Africa, leaving an unknown brand in its place? How would the market react? More importantly, how would its clients react?
This is our story of how we managed the departure of Virgin Money, and announced the birth of a proudly South African fintech startup, Spot Money.
