Postbank already provides savings accounts and allows for fixed-term deposits and simple transactions, however it has much bigger plans, including extending its services to become a full- service bank that can accept deposits and offer cards and other products. However, to get there, the Post Office first needs to get a banking licence - and at the end of April 2018, it was reported that no decision has yet been taken to grant one, despite hopes that the process would have been completed by then. According to Telecoms and Postal Services minister, Siyabonga Cwele, the bank should ultimately meet the Reserve Bank's requirements and be able to conclude its transition to a full bank by March 2019. Postbank will not compete with the commercial banks, Cwele said, and would hold a more developmental role in the financial services industry. Young Women in Business Network: The YWBN is a far more niche banking group that is not targeting 'big bank' success. The women-led bank currently operates on a stokvel model of co- operative banking, but is building itself up to becoming a fully-fledged, registered co-operative bank. Co-operative banks are wholly-owned by their members, who carry the risk. YWBN, specifically, is targeting black entrepreneurs and the informal economy - a sector largely neglected or ignored by the big South African banks. Executive chair, Nthabeleng Likotsi, said the bank is targeting 1,000 members by February 2019, which is the minimum required by the Reserve Bank for the group to qualify as a co-operative bank. People can already apply to be a part of the bank, though there is a R10,000 minimum share capital deposit fee, and an annual membership fee of R550. The group gives out loans of up to R100,000. Adapted from: BusinessTech. 2018. 6 new banks launching in South Africa soon. BusinessTech, 23 July 2018. [Online]. Available at: https://businesstech.co.zaews/banking/260077/6-new-banks- launching-in-south-africa-soon/ [Accessed 18 February 2022]. Article 2: Our TymeBank Story Our purpose: To empower mang ka mang mo Mzansi to take back control of their money. Our mission: To help you understand how money really works by giving you a clear picture of every Rand and cent you have. This helps you make decisions about your money today that has the power to grow into a secure financial future. We believe that every South African has the right to accessible and affordable banking.What we believe in: TymeBank is all about 3 key things 1. Simplicity - Our products, services and tools are designed to be easy to use and easy to find. Because there is a TymeBank kiosk in most Pick n Pay and Boxer stores and you can deposit and withdraw money at every Pick n Pay and Boxer till point, you can bank where you shop. Our banking app and online banking is ready for you neng kapa neng and our services like SendMoney for example, lets you send money to someone else, kae kapa kae mo Mzansi, even if that person doesn't have a bank account. 2. Transparency - Banking doesn't have to be complicated. There's no need for larney words or hidden costs. We make sure that you know exactly what is free, what banking you pay for (and how much) and we keep our fees and charges super-simple. 3. Affordability - Abomalume, soccer moms, truck drivers, managers, Mzansi-preneurs and umpakathi as a whole, have the right to accessible and affordable banking. Because we are a digital bank, the money we save by not having branches - coupled with our partnership with Pick n Pay and Boxer retail stores, means that we can offer you a lot more at a lot less cost to you. Always there for you We're a digital bank that is physically present. You can bank with us at over 14 000 till points across the Pick n Pay and Boxer network and at over 700 kiosks, many of which are staffed by dedicated TymeBank Ambassadors who are ready to lend a helping hand. We also have videos, articles, how-to info, and articles on our website plus the support of a Mzansi-based call centre. Source: TymeBank. 2021. Our TymeBank Story. [Online]. Available at: https://www.tymebank.co.za/about/ [Accessed 18 February 2022]. Article 3: How does Tyme bank compare to traditional banks? The South African banking industry is slowly moving into the digital space. In 2001, Capitec Bank opened its doors, changing the way banking had traditionally been done, ensuring that customers can access their accounts digitally. Today there are new players like Tyme Bank that are pushingthe envelope even further with branchless banking, going fully digital. But does this bank stand a chance against the traditional banks? When Tyme Bank joined the market, it saw an opportunity in that customers were looking for a bank account that would be affordable and convenient. This is according to Cheslyn Jacobs, head of sales and service at Tyme Bank. But is it affordable? The table below compares Tyme Bank's prices with two of the biggest banks in South Africa. According to Jacobs, the reason that the bank has zero to low transaction fees is because the bank doesn't have any branches. There are no costs associated with bricks and mortar, and traditional operating models. This allows the consumers to save. With Tyme Bank, customers can perform various transactions through retail stores such as Pick n Pay, Boxer, the internet banking platform, and the Android Banking App. "Being a digital bank means that we are able to innovate much faster in order to meet the needs of our customers," says Jacobs. Tyme Bank Capitec bank FNB in thly fee Free R5.00 R5.75 Deposit fee R4.00 R1.00/R100 RO.95/R100 Withdrawal from own ATM Free R6.00/R1,000 R1.90/R100 Withdrawal from another ATM R8.00 R8.00/R1,000 R9.00+R1.90/R100 Withdrawal from Point of Sale Free R1.00 R1.60 What is Tyme bank doing differently? The bank does not have any physical branches. Customers can open a FICA-compliant bank account at kiosks located at retail stores and online. When Justmoney tried to open an account online, we received a few error messages before succeeding. Not only did it take longer than the promised five minutes, but opening the account required a significant amount of data. When you open your account online you have to go to a kiosk to print your free personalised Visa debit card, and you need to bring your documents (ID and your proof of residence) with you to ensure that your account is FICA-compliant. The bank gives you an opportunity to open 11additional accounts, including your main transactional account. According to Jacobs, GoalSave is a savings account that offers an interest rate of 6% per annum from day one, 7% per annum after 30 days, and 9% per annum after 90 days. If you give 10 days' notice when withdrawing you can earn 10% interest per annum on your savings. You can create up to 10 different savings goals and give each a name. For example, Wedding, Emergency Fund, or Family Holiday. You can earn interest with no restrictions, fees, or penalties, and you can also access your funds immediately. Capitec Bank also allows you to name your accounts and, depending on your deposit, you can earn up to 9% interest if you invest your money for a period of up to 60 months. Whereas with FNB you can earn up to 8.7%. Can Tyme Bank outperform established banks? The emergence of digital banks brings more challenges for the big five banks because it allows more customer choice. According to Dominique Collett, a senior investment executive at Rand Merchant Investment Holdings (RMI), we are going to see more value propositions and innovations come into the market in the future. She says that this new banking phenomenon forces traditional banks to improve their offerings. "Big banks are going to respond to the new challenges. They are going to come up with fresh offerings and they are going to focus more and more on their digital platforms. Digital banking is a real game changer," she explains. Are consumers ready for digital banking? South Africans are becoming more comfortable with mobile banking and they are becoming more educated about using cellphones, says Collett. She says with the use of mobile and smart apps, banks can increase consumer education. Even though digital banking offers lower transaction fees, the catch is in the consumer information. "If the product is free, you're the product. A lot of these digital banks are going to use customer data to sell other products," says Collett. Source: Sawutana, A. 2019. How does Tyme bank compare to traditional banks? Just Money, 24 April 2019. [Online]. Available at: https://www.justmoney.co.zaews/2019/04/24/how-does- tyme-bank-compare-to-traditional-banks/ [Accessed 18 February 2022].I. Outline TymeBank's unique resources and capabilities. II. Critically examine the resources you have identified for TymeBank against the following factors: 3. Com petitive advantage b. Sustainability c. Appropriability d. Exploitability Brief conclusion on the findings of the essay. References. aortant instructions: You are required to use at least five sources (including you prescribed material) to complete the essay. not offer credit. It will be entirely digital and handle all of its services and communications via an app. It is going against the traditional banking grain, and targeting a younger, more tech savvy market that wants to do their banking the same way they interact with other digital media. When Bank Zero was first announced, co-founder Michael Jordan said the 'hope' was that Bank Zero would launch at the end of 2018 - however in subsequent posts to social media, the banking exec indicated that this had moved to "early 2019". In response to emails asking about the launch, Bank Zero said that it has gone to ground with all its teams working on creating "the Google of banking", and no correspondence would be given. Tyme Digital: It was reported earlier in July that the Commonwealth Bank of Australia (CBA) - which owns 90% of Tyme Digital - is reviewing its position in the local market, and may sell its stake in Tyme to its local partner, African Rainbow Capital. Despite the talks of shareholder changes, the bank is still expected to launch. The group has already been operating in South Africa with a money transfer service, and said it plans to launch its full banking services in 2018. Tyme Digital is targeting retail customers and small, medium and micro enterprises within the low to middle income class. It has not committed to any specific launch date, with the last message in June 2018 being that "we're excited to be officially launching towards the end of this year". African Bank has steadily built up its deposits following a well-documented curatorship and is gearing itself towards again offering a transactional banking account, called the My World account. Earlier in the year, the My World account was being tested internally among African Bank employees, with an expected launch date "later" in 2018. Speaking to BusinessTech, the bank said it is progressing well with its plans to launch a transactional banking product into the South African market with a phased approach expected in the last quarter of 2018 and continuing into 2019. "The concept of family or community banking is what will differentiate this product and African Bank. This product is priced and structured in a way that will definitely appeal to South Africans," it said. "Customers will be able to manage their My World account through the African Bank website, the app, or their cell phone 24/7. The fees on My World will also be extremely competitive. As with our market-leading savings and investment rates, African Bank will continue a trend where additional value is offered to our customers."Case studies and Background "[Firms' resources are the particular focus of resource-based theory (referred to as RBT throughout the rest of this article). However, studies adopting this approach tend to concentrate on "strategic" resources, i.e. those with VRIN attributes (valuable, rare, inimitable and non-substitutable) and therefore those resources offering a sustainable competitive advantage. While research in RBT recognise the existence of other resources, the latter are not really conceptualised or examined in detail since, by definition, they are not at the origin of a sustainable competitive advantage and Ricardian rents which constitute the main focus of this strategic management theory." (Warnier, Weppe & Lecocq, 2013:1359).Source: Warnier, V., Weppe, X. and Lecocq, X. 2013. Extending resource-based theory: considering strategic, ordinary and junk resources. Management Decision, 51(7): 1359-1379. [Online]. DOI: https://doi-org.ezproxy.iielearn.ac.za/10.1108/MD-05-2012-0392 Article 1: 6 New banks launching in South Africa soon South Africa is expected to see at least six new banks and banking services launch in the coming months, including the likes of Discovery Bank and Bank Zero - a mutual bank co-founded by former FNB CEO Michael Jordan. Others include two names South Africans are already familiar with - African Bank, which is planning to launch transactional services, and Postbank, which is the Post Office's foray into full service banking - and Tyme Digital and the niche Young Women in Business Network Cooperative Financial Institution. Here's the latest updates on when the banks are expected to launch: Discovery Bank: Discovery has offered financial services through FNB for a number of years, but it is now preparing to launch its own full-service bank offering. Group CEO, Adrian Gore, said in February 2018 that the group was "on track" to launch its bank in 2018, at a cost of R1.5 billion. The bank will leverage its current services with FNB - of which it has more than 230,000 primary card holders - and is in talks to take over those accounts (pending competition approval). It will compete directly with the big retail banks. On Monday, it was announced that Home Affairs director-general Mkuseli Apleni has resigned from the government department to join Discovery Bank in an executive role, indicating that the bank was getting closer to a full launch. Apleni said he will join Discovery Bank from August 2018. Speaking to BusinessTech, Discovery said that it was still on track for a launch in the second half of 2018, as previously indicated. "There is currently substantial testing underway and we're excited to bring our offering to market," it said. Discovery had in excess of 3.4 million members according to its 2017 annual report. Bank Zero: Unlike the other well publicized bank's entering the market, Bank Zero will operate as a mutual savings bank and not a retail bank. A mutual bank is owned by its members who subscribe to a common fund while a retail bank is generally owned by shareholders, who may not be customers of the bank. Because of this model, these types of banks tend to be smaller and offer limited services. often focusing on savings, rather than credit. Bank Zero follows this trend and will