The fintech behind the world’s best retail bank

Entersekt Editor|31 October 2017
The fintech behind the world’s best retail bank

We are excited to attend the Gartner Symposium/ITxpo in Barcelona on November 5-9 with our valued client, Capitec Bank, and share the unique story of our combined goal to make banking simple, accessible, affordable and secure for all.

In his talk The digital journey of the world’s best retail bank: Lessons from Capitec’s playbook, Michael Swart of Capitec will present a case study on the bank’s business growth and its partnership with our team.

The Head of Electronic Delivery Channels at the 16-year-old South African bank will relate how Entersekt assisted with its forward-thinking, mobile-first strategy to make Capitec “not only the nation’s fastest growing bank brand, but the fastest growing brand overall,” according to Brand Finance’s South Africa 50 Report.

To fully realize its commitment to innovation and the digital journey, Capitec turned to Entersekt after larger authentication vendors proved too rigid, mobile-unfriendly and not scalable enough to carry out its vision. We delivered these advantages:

  • A secure two-way communication channel that ensures Capitec communicates with legitimate customer devices and customers can trust the bank’s push prompts;
  • Strategic alignment comprising a mobile-first approach, robust security and a smooth user experience; and
  • Protection against all major threats, including SIM swap fraud, phishing attacks, man-in-the-middle attacks and account takeover fraud.

Capitec believed that security would allow innovation to flourish, and the results were impressive. The bank’s 9.3 million clients now equate to a 25 percent share in a very competitive market, while self-service banking transactions increased by 46 percent year-on-year to 728 million in early 2017.

 Since 2012, Capitec has doubled its client base and has been named Best Retail Bank in the World by Lafferty Group for the last two years. In fact, it is the only bank in the world to have achieved five stars in Lafferty’s Global Bank Quality Benchmarking Study.

 Designed for CIOs and senior IT executives, the Gartner Symposium/ITxpo in Barcelona will welcome more than 6 000 industry decision-makers for five days of strategic educational and networking events. The combination of Gartner analysts, industry experts and solution providers will shed unique light on emerging trends shaping IT and business, as well as best practices for industry executives.

Attending this event? Be sure to join us at Michael Swart’s presentation, The Digital Journey of the World’s Best Retail Bank - Lessons from Capitec’s Playbook, on Tuesday 7 November at 13:00-13:30 in the Hilton Ballroom C, or stop by our booth (801) to meet our Business Development and Product teams. We look forward to seeing you there!

About the author

Entersekt Editor

Entersekt Editor

Subscribe to our newsletter for our latest news, press releases and events

logo entersekt

Entersekt is an international software development company based just outside of Cape Town, South Africa.

We are leaders in authentication, app security, and payments enablement technology, offering a highly scalable solution set with a track record of success across multiple continents.