Breaking Borders: Africa’s Digital Leap and the Future of Global Payments

Jun 12, 2025

In this insightful conversation, Muzaffar 'MK' Khokhar, the Founder & CEO of Unitey, and Karl Westvig, CEO of TymeBank South Africa, discuss the revolution in digital banking across Africa and its expansion into Asian markets. Karl shares how TymeBank has reached 80 million customers by focusing on financial inclusion for young, tech-savvy populations. MK dives into the evolving payments ecosystem, emphasizing the need for modern infrastructure in today’s fast-paced world. Together, they explore the transformative power of technology in shaping the future of global finance.

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INSIGHT

Lending Growth at TymeBank

TymeBank evolved from 100% deposit liabilities to 40% lending, expanding credit offerings digitally.
They are acquiring loan portfolios to increase lending scale, fully digitally delivered.

INSIGHT

Expanding Financial Services

TymeBank is integrating fractional share ownership, multi-currency accounts, and remittances.
These add-ons are critical especially for markets like the Philippines with large remittance volumes.

ADVICE

Strategic Platform Upgrade

Focus on tech platform refactoring to unify user experience and add new product propositions like Apple Pay.
Invest in brand upgrades and marketing for greater market visibility.

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This week we bring you more insights from Cape Town South Africa as we continue to explore some great startups on the African continent and beyond from Crossfin’s Circle of Fintech event.

In our first segment, Brett speaks with Karl Westvig, CEO of TymeBank South Africa. Since receiving its banking license in South Africa in 2019, TymeBank has grown to 80 million customers globally, focusing on financial inclusion through accessible and frictionless banking. The expanding neobank has plans for further growth in several Asian markets.

Key motivations include the immense scale of the Asian markets: the Philippines with 120 million people and Indonesia with 280 million alongside South Africa’s 60 million. These regions boast young, digitally savvy populations that are largely underserved. Tune in as Brett and Karl discuss new opportunities, TymeBank’s innovative “phygital” distribution strategy, tech stacks, Agentic AI, new products, and more

Then, Brett sits down with Unitey Founder & CEO, Muzaffar “MK” Khokhar, for an engaging conversation about the payments ecosystem. Based in the UAE, Unitey’s mission is to democratize financial services and level the playing field.

MK is a veteran payments ecosystem player, creating and operating payment ecosystems for central banks and governments. With Unitey, he is focused on the serenity of the ecosystem. With our current system built back in the 60s / 70s, we now have better tech for more robust payment rails. Change is happening, efficiency is coming into the system, and interoperability with other rails coming up fast with RTP, mobile money, and more. Unitey specializes in demystifying the card payment rails but has clear roadmaps focused on creating interoperability with other rails, ensuring multiple rails can actually interoperate.

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Connect With Karl Westvig: https://www.linkedin.com/in/karl-westvig/

Connect with Unitey: https://www.linkedin.com/company/unitey-digital/

Connect with Brett King: https://www.linkedin.com/in/brettking/