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Bank on that! Capitec ranked SA's best bank again

Forbes' World’s Best Bank Survey rated banks in two dozen countries on overall recommendation and satisfaction while trust, terms and conditions, customer service, digital services, and financial advice were surveyed.

Picture: @CapitecBankSA.

JOHANNESBURG - South Africa's Capitec has been ranked the country's best bank for the second year in a row.

Forbes' World’s Best Bank Survey rated banks in two dozen countries on overall recommendation and satisfaction while trust, terms and conditions, customer service, digital services, and financial advice were surveyed.

This is more good news during a good year for the bank. Capitec’s digital banking services are the most widely used in the country, with over 7.4 million active users.

They’ve also noted a significant increase between January and May 2020, with the bank welcoming over 470,000 new digital banking clients, a 6.8% increase on their digital client base.

"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,” said Gerrie Fourie, CEO of Capitec Bank.

Fourie added that Capitec's use of AI technology has allowed it to continuously improve processes and efficiencies while giving it a better understanding of clients’ needs on an individual level.