OM Bank
in South Africa 🇿🇦
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About OM Bank in South Africa
OM Bank is a digital-first retail bank operating in South Africa as a subsidiary of Old Mutual Limited, one of the country's largest financial services groups. Launched to the public in September 2025 after a soft launch earlier that year, the bank targets the mass and lower-affluent market segments.
The bank was established under Section 16 of the Banks Act and is built on a cloud-native platform developed in partnership with London-based fintech company 10x Banking. OM Bank represents Old Mutual's strategic entry into retail banking following the group's earlier divestment of its majority stake in Nedbank.
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