From free burgers and ride-hailing services to hip-hop concerts and discounted petrol: South African banks are going all out to win customers as competition hots up.
The decision by Standard Bank to close 91 branches and cut 1 200 jobs is not at all surprising – the only surprises were that the bank announced it publicly and that it did so before elections in May.
South African banks are reporting phenomenal growth in the use of banking apps despite the country’s finite banked population, stagnant levels of smartphone penetration and relatively low levels of financial literacy.
First National Bank has squeaked past Capitec to be named South Africa’s best digital bank, according to a new, independent study by Columinate. The insights agency on Monday released its seventh annual
First National Bank is taking the fight for entry-level banking consumers to Capitec, with the launch of its new zero-monthly-fee transactional bank account aimed at the unbanked and underbanked. eWallet eXtra, due
Bank Zero appears set to accelerate the evolution of the South African banking industry by offering a fresh take on banking and highly competitive fees. The bank – the brainchild of tech entrepreneurs and banking innovators Michael
BrandsEye, a company that mines social media to determine people’s view on topics from elections to companies, has found that Capitec is South Africa’s most loved bank among social media users. The annual
Investments made by banks to beef up their digital capabilities and offer clients cost-effective services appear to be paying off. Detailed figures disclosed in the financial results of four of the five largest banks in
Capitec Bank hopes that its acquisition of Creamfinance, a European online lending firm, will eventually lead the establishment of a digital-only bank overseas. “We’re building a digital bank on this side and they’re
Capitec is to acquire a stake in a European online lending group, marking its first entry into international markets. The group is to purchase a 40% stake in digital finance company