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

TymeBank's Global Growth Strategy

TymeBank has grown to 18 million customers globally since 2019, focusing on financial inclusion through accessible banking.
Expansion targets large Asian markets with young digitally savvy populations like the Philippines and Indonesia.

INSIGHT

Vietnam Tech Team Power

TymeBank's tech engineering team in Vietnam is a key operational advantage with 650 engineers.
They unified their tech stack to launch a new app this year, streamlining product offerings.

ADVICE

Integrate AI in Operations

Familiarize all staff with AI tools through targeted workshops.
Use AI for operational improvements in customer service and compliance first.

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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/