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Snippet: 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.

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

 


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Entersekt is an innovator of customer-centric fintech solutions. Financial services providers and other enterprises rely on our patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. With us, they can concentrate on their innovation roadmap, while delivering intuitive, low-friction digital experiences to their customers.