Capitec Ranked Best Bank in SA by Forbes

Capitec Bank has been ranked as ‘Best SA Bank’ for the second consecutive year on global media giant Forbes’ annual survey of the World’s Best Banks.

Forbes partnered with market research firm Statista to measure the best banks in nearly two dozen countries. Statista surveyed more than 40,000 customers to rate banks on overall recommendation, satisfaction, trust, terms and conditions, customer service, digital services, and financial advice.

Gerrie Fourie, CEO of Capitec Bank, says: “We’re continually challenging the norms of traditional banking to bring our clients a simplified, affordable solution that puts them in control of their money. A client-centric focus, along with the pursuit of relevant innovation, has made it possible to transform what was originally a grudge purchase into a service that truly helps people better manage their financial lives. We are honoured to receive this recognition, and while it is a sign that we are headed in the right direction, we will not rest in our pursuit to simplify banking.”

Fourie added: “A bank’s ability to keep clients satisfied through client-centric digital solutions will set them apart in this fast-changing environment. We’ve noted a significant decrease in clients’ dependency on cash-based transactions during the past 3 months as the increased safety, convenience and affordability of digital banking become necessities for clients. I believe that in future years bank branches will continue to be an important point of personalised service for clients but will also serve as digital service centres, able to help clients across the country in real-time.”

“Our use of AI technology has allowed us to continuously improve our processes and efficiencies while giving us a better understanding of our clients’ needs on an individual level.  Not only has this allowed us to offer our clients more personalised service, but we’ve also passed the efficiencies onto our client through cost and time savings across both our digital channels and in-branch.

“This allows us to offer affordable digital fees that challenge the norm, such as immediate payments for only R8, compared to an industry norm of around R50.”

Originally written in IOL

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