Capitec has disclosed that it will launch a new banking card and redesigned banking app within the next two months.
The chief executive, Gerrie Fourie who made this known said that the next 12 to 18 months would see a number of exciting new developments, particularly in the digital payments and credit space, while in the next two months clients can expect some visual changes.
Fourie added that the first change comes in the form of a new ‘black’ Capitec Global One debit card that sports the same vertical design commercialized by Discovery Bank.
He explained that the vertical design was chosen because “we don’t swipe anymore”, the bank said, noting that the new card would have full tap-and-go functionality.
The chief further stressed that it features platinum gold typeface and either red or blue bordering, in line with the group’s corporate color scheme.
The second big change is the group’s redesigned banking app, which will give existing clients full control of their accounts and the new card, while also allowing onboarding of new clients through facial recognition technology – the so-called “selfie banking” that has already debuted at other local banks.
Fourie said that digital is a key focus area for the bank. To this end, he said that the group has a dedicated team of around 200 individuals working in the digital and artificial intelligence sector.
He also mentioned that machine learning is another area of focus, adding that if he could find 100 machine learning experts to hire he would “do it tomorrow”.