CX Trailblazers: What it takes to build an award-winning bank.

Since its founding in February 2019, TymeBank has rapidly become one of South Africa’s best digital banking institutions. Boasting an impressive customer base of nearly nine million and achieving profitability within an unprecedented five-year timeframe, TymeBank has garnered widespread acclaim. Most recently, it was honoured as News24’s Bank of the Year in March 2024, solidifying its standing as a trailblazer in the banking realm.

During our recent client event, CX Trailblazers on April 16th, 2024, Cheslyn Jacobs, COO of TymeBank, shared invaluable insights into the bank's winning strategy with an intimate gathering of 30 guests.

Cheslyn's charismatic delivery captivated each attendee, ensuring his discourse resonated deeply and left a lasting impression.

Sharing anecdotes and insights on the Banks’ journey to breakeven, Cheslyn highlighted 7 important points for all CX Officers and Customer Experience Managers:

Emphasising the importance of industry education, highlighting the potential impact on customer acquisition and retention. Acknowledging that misconceptions can sway customer loyalty, he urged businesses to bridge the knowledge gap.

Putting customers at the forefront of decision-making emerged as a recurring theme. Jacobs stressed the necessity of aligning business decisions with customer needs, even if it entails stepping out of one's comfort zone.

Recognising employees as the cornerstone of business success, Mr Jacobs underscored the significance of prioritizing their welfare. By fostering a supportive work environment, companies cultivate a workforce equipped to deliver exceptional customer experiences.

Cheslyn advocated for a meticulous approach to data analysis, urging businesses to discern and leverage crucial data points. By harnessing actionable insights, organisations can steer their operations towards sustained growth and relevance.

Identifying key touchpoints between businesses and customers emerged as a strategic imperative. Jacobs

advised directing resources towards optimising these interactions, thus enhancing overall customer satisfaction.

While advocating for boldness in addressing competitors, Jacobs urged businesses to maintain a customer-centric perspective. By prioritizing customer welfare over rivalry, companies can secure a competitive advantage rooted in genuine value delivery.

An advocate for the adoption of customer experience metrics, Cheslyn believes them to be a pivotal gauge of business success. By aligning goals with
customer-centric benchmarks, organisations can cultivate a culture of continuous improvement and customer satisfaction.

Cheslyn Jacobs's illuminating discourse not only offered a glimpse into TymeBank's transformative journey but also provided invaluable principles applicable to businesses striving for excellence in today's dynamic and unique South African landscape.

We offer our deepest thanks to Cheslyn for agreeing to share these insights with us, our guests for their attendance and as a trusted partner, we are proud of the part we play in the bank’s continuing success.