Click here to learn more about Capitec\u2019s banking services.<\/strong><\/a><\/li>\n<\/ul>\n\n\n\nIt added that product diversification and client-centric solutions are achieving impressive results and positioning Capitec as a leader in the South African financial services industry.<\/p>\n\n\n\n
“Our strong results demonstrate the strength of our diversified business model,\u201d said Capitec CEO Gerrie Fourie.<\/p>\n\n\n\n
\u201cWe have continued to invest significantly since 2020, despite the tough economy, and have developed solutions that meet the needs of our clients.\u201d<\/p>\n\n\n\n
The growth of digital banking<\/h2>\n\n\n\n
Among Capitec\u2019s biggest successes is its strong performance in the digital banking sector.<\/p>\n\n\n\n
Its latest financial results show that active banking app client volumes have increased by 21% year-on-year \u2013 from 10.3 million users to 12.4 million users.<\/p>\n\n\n\n
Adding over 2 million new digital banking clients to the Capitec App in one year is an impressive achievement. It highlights the success Capitec has experienced in digitally transforming its banking business.<\/p>\n\n\n\n
One of the key benefits driving the move towards digital banking is the increased convenience for clients when making payments, said Capitec.<\/p>\n\n\n\n
This is reflected in Capitec\u2019s results presentation, which reported that digital and card payment volumes increased by 24% year-on-year. These payment forms now represent 89% of the group’s total transaction volumes.<\/p>\n\n\n\n
Furthermore, the Capitec App saw its transaction volumes increase by 30% – and 88% of all digital transactions were delivered through the banking app.<\/p>\n\n\n\n
This highlights the importance of mobile banking in the modern market and establishes Capitec as a trailblazer in the sector.<\/p>\n\n\n\n
\u201cThese figures represent millions of South Africans who are embracing digital financial solutions that make their lives easier and access to finance more affordable,\u201d said Fourie.<\/p>\n\n\n\n
\u201cWe\u2019re successfully transforming how people bank.\u201d<\/p>\n\n\n\n
Future investments<\/h2>\n\n\n\n
Capitec is using its strong financial performance over the past year to drive ambitious technology projects that will deliver even more value to its clients.<\/p>\n\n\n\n
This includes an additional R174 million investment into technology and cloud services over the next six months.<\/p>\n\n\n\n
\u201c[This] isn\u2019t just about scaling our business; it\u2019s about unlocking value and creating opportunities for every client we serve,\u201d said Fourie.<\/p>\n\n\n\n
Fourie said the bank is also focused on leveraging technology to place the power of financial freedom in the hands of its clients.<\/p>\n\n\n\n
\u201cWe\u2019re not just banking lives, but enriching them.\u201d<\/p>\n\n\n\n
Click here to learn more about Capitec\u2019s banking services.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Capitec clients using the banking app have increased by 21% year-on-year to 12.4 million.<\/p>\n","protected":false},"author":57,"featured_media":793411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[1798,20592,895],"class_list":["post-793409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-capitec","tag-capitec-interim-financial-results","tag-financial-results"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/793409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=793409"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/793409\/revisions"}],"predecessor-version":[{"id":793415,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/793409\/revisions\/793415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/793411"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=793409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=793409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=793409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}