Capitec is currently bolstering its digital and IT staff as it plans for the future, says CEO Gerrie Fourie.
Speaking at the bank’s results presentation on Thursday (28 March), Fourie said: “We are focusing on the future – we’ve created a digital value stream that is close to 180 people – just focussed on the development of new products and new digital streams.”
“That is not people focussed on maintaining the current infrastructure.” These people, he said, are creating new digital capabilities.
Fourie said that in the next 9-12 months, the bank will introduce a host of new products and services into the market.
Capitec currently employs 13,774 people, adding 441 to the mix over the past year, while 2,124 staff were promoted to new or vacant positions over the same time period.
Speaking to BusinessTech in a telephonic interview, Fourie said that the bank is still hiring primarily in the following three areas.
- The IT space – He said that these hires are focussed on building a long-term strategy and building IT capabilities. “If you are running our volumes then you need to make certain you have the right infrastructure and you have the right capabilities,” he said. “In December we did 1.1 billion transactions on our IT systems so you need to support that. You also need this IT expertise for building in our branches.”
- Digital – Fourie said that the bank is looking to enhance its digital offerings and create new platforms where you can ‘plug in and plug out’.
- Machine learning and AI – Fourie said that Capitec is also hiring in the machine learning and AI space. “There are so many opportunities to use our data much better to enhance the client experience,” he said. “If we can hire 100 of these people we would hire them tomorrow.”
Fourie said that Capitec also has a standing relationship and shareholding with Praelexis, a machine-learning company based in Stellenbosch, highlighting its importance to the future of banking.