Capitec will officially launch its new contactless card and a new banking app in the coming weeks.<\/p>\n
Speaking to BusinessTech, Capitec CEO Gerrie Fourie said that the new contactless card has already launched in the Western Cape and is currently being rolled across the bank’s Gauteng branches.<\/p>\n
He added that the card will be rolled out to the rest of the country’s provinces at the start of October.<\/p>\n
Over the same time period, Fourie said Capitec will be launching an updated banking app.<\/p>\n
“The app will feature a number of new features including a greater level of personalisation,” he said.<\/p>\n
“The app has also been built with the plug-in, plug-out functionality so that we can easily add any new fintech developments directly.”<\/p>\n
South Africa’s biggest bank<\/strong><\/p>\n The new developments come on the back of impressive results for Capitec which reported an 18% increase in operating profit before tax to R3.83 billion for the half-year ended August 2019.<\/p>\n Headline earnings per share increased by 20% to R25.45 per share, from R21.28 per share in the prior corresponding period.<\/p>\n Earnings per share increased by 20% to R25.49 cents per share, from R21.22 per share in the prior corresponding period.<\/p>\n \u201cWe have 834 branches across the country in convenient locations and approximately 6 million clients visit our branches every month. We have converted 122 branches where we have removed the cashier and implemented a full self-help functionality.<\/p>\n \u201cThis enabled us to add an additional consultant workstation for further capacity in the branch, ” Capitec said.<\/p>\n \u201cThe delivery on clients\u2019 needs through personalised service has resulted in an average client growth of almost 200,000 per month over the last 6 months. We now have 12.6 million active clients,\u201d it said.<\/p>\n The bank said that it has about 6.8 million customers actively using its digital channels which “likely makes us the biggest digital bank in the country,” Fourie said.<\/p>\n
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