Bank Zero ventures into commercial banking

October 3, 2023 Siyabonga Mtangana

Bank Zero chairman Michael Jordaan

Bank Zero, which offers an app-driven digital bank for individuals, is now providing commercial banking, too.

Chairman Michael Jordaan said the commercial products are aimed at businesses of any size.

“We have completely rethought commercial banking to bring it into the digital age. We’ve built it from the ground up, which means we have no legacy systems that are cumbersome and costly, leading to inefficiency and high bank charges,” Jordaan said in a statement.

Bank Zero CEO Yatin Narsai said: “It was a complex project, but because we were able to design the system as a whole, it works seamlessly with the user in mind.

“Everything from setting up your in-house banking team, changing mandates and granting access privileges, to making payments is all done within the app.”

Customers can download transaction histories into spreadsheets, making reconciliations easier, as well as set up business debit cards for staff. Bank Zero commercial banking supplies card machines through a partnership with iKhokha and is fully integrated with Xero accounting software. – © 2023 NewsCentral Media