Bank Zero announced today that it is a step closer to launching operations to the public, after having completed its core value proposition and having gone live with its debit card.
In a statement today the bank said it now expects to launch to the public in the first half of next year — a delay of about a year over the bank’s earlier plans to launch by middle of this year.
In March the bank said in a statement that it expected to launch to the public in the second half of 2019.
Commenting today on the delay in the launch, Bank Zero chair, venture capitalist and former FNB CEO Michael Jordaan (pictured above) admitted to Ventureburn that “real life has taken a longer than we had originally anticipated”.
The process has taken longer because we’ve built Bank Zero’s tech stack ourselves — Michael Jordaan
“In short, we built the entire IT software stack ourselves. This means we have a fully integrated core banking platform with full reconciliations and embedded compliance that operates across all payment rails.
“Our process could have been faster — but much, much more expensive and me-too — had Click here to read entire article
Source:: Venture Burn