Capitec Demonstrates How Innovation is Reshaping South African Banking

Capitec Bank  recently hosted its Innovation Exchange, providing an in-depth look at how the bank is building the future of client-first banking in South Africa. The event highlighted Capitec’s focus on embedding innovation across every aspect of its operations, from data and design to branches and digital platforms. The bank emphasized that innovation is central to its mission of delivering better, faster, and more secure banking experiences to its 25 million clients.

At the heart of Capitec’s approach is data-driven product design. By leveraging trillions of data points, the bank tailors products to meet real client needs, ensuring solutions are practical and relevant. Clients benefit from faster and easier banking access, with accounts opened in minutes via the mobile app, cards delivered within three days, and 17,000 new business banking clients onboarded last month—90% of them digitally.

Capitec also highlighted its commitment to transparent and simple pricing. International transfers are available at a flat rate of R175 to over 50 countries, while the bank’s travel card carries zero transaction fees and no currency conversion charges. In addition, the bank has implemented strong, proactive fraud protection measures, preventing R300 million in losses, stopping 200,000 payments to 50,000 scammers, blocking 80,000 mule accounts, and providing advanced app security features to 13 million clients.

Beyond individual clients, Capitec is actively supporting business growth. The bank reported more than 200% growth in trading merchants, over R1 billion in SME funding, and 24 million Capitec Pay transactions processed monthly. According to the bank, the Innovation Exchange was not just a showcase of capabilities but a demonstration that its innovative solutions are live, scalable, and actively transforming the way South Africans bank.