Capitec Bank balances security with convenience

South African retail bank Capitec has experienced extraordinary growth since it was founded in 2001. Competing with long established heavyweights, it has focused on digital efficiency to keep fees low and services convenient. With mobile at the center of its strategy, Capitec prioritized app security and a simple, intuitive mobile experience. Our journey with Capitec began in 2012 and continues apace.

Business challenges

Implement a security platform on which to extend innovative new mobile offerings with confidence
Manage costs associated with remote banking services, including SMS and hardware tokens
Ensure a consistent, user-friendly experience of all digital channels

Results

Over 5,5 million mobile clients and close to 2,5 million app users, with phenomenal monthly growth
Overtook two competitors since launching its app in 2014 to become the country’s third‐largest bank by customers
Tens of millions of rands saved on staff time
Savings replacing hardware tokens, SMS; app zero-rated on most devices and networks, enabling clients to use it without paying data fees
No fraud on app‐protected digital channels