SOUTH AFRICA – Capitec Bank, a financial service provider, has launched a new banking app that has been available since October 21, 2019.

According to the bank, this new app is not an update of Capitect’s existing app but an entirely new app. The app has been designed with the convenience of Capitec Bank clients in mind and it is even easier to use than the current Capitec Bank app.

The free download app comes at zero monthly subscription rates. In addition, MTN, Vodacom, Telkom Mobile and Cell C subscribers will be able to access the application at zero data charges.

The app has also integrated security features through a user specific remote pin. Worth noting, clients that register for Remote Banking from the launch date with automatically get the new app.

Clients that are using the existing app can continue to use the current app until they download and activate the new app. Once successfully activated, clients will not be able to use the existing app.

Capitec Bank clients who have verified their e-mail address on the current app can upgrade to the new app without visiting a branch.

The app has features such as a personalised home screen where users can see their
accounts and balances at a glance, one can customise their favourites where users can setup shortcuts on their home and sign-in screens for one-tap access to the features that they use the most.

It also has a tracker on how one spends. Users can get a quick overview of how they are spending their money with categories like food transport or communication.

It has biometric features where users can sign-in and authenticate with fingerprints or facial recognition their phone supports this and a feature where one can manage contactless card transactions in that users can turn their card’s tap to pay function on and off.

Capitec Bank is a South African retail bank. As of August 2017, the bank was the second largest retail bank in South Africa, based on number of customers, with 120,000 customers opening new accounts per month.