Capitec launched its inaugural Innovation Exchange with a powerful demonstration of how its technology ecosystem is redefining secure and accessible banking in South Africa. The group revealed that its powerful AI-driven security systems and human intelligence teams have already prevented more than R300 million in client fraud this year – a milestone that underscores Capitec’s position as the country’s leading innovator in modern banking.
Bringing together industry leaders, journalists, and partners, the event showcased how Capitec’s integrated approach to identity, payments, security and client experience is setting new standards for inclusive innovation in the financial industry.
Innovation that shapes the future of banking
Capitec executives unpacked the full breadth of Capitec’s innovation ecosystem – from its landmark partnerships to advancements on its app, cross-border payments and innovation across its branches.
In the opening session, Lee reaffirmed Capitec’s founding purpose: “We have always been a bank built for 95% of the population. Every transaction is a signal of what people value – and with trillions of data points, we can build solutions that reflect the real needs of South Africans.”
This approach has shaped a trusted, secure ecosystem of services across accounts, identity, payments, communications and lifestyle value. By removing friction, reducing risk, and delivering meaningful value, this ecosystem improves clients’ lives.
Building South Africa’s most secure identity ecosystem
One of Capitec’s most anticipated innovations – its partnership with the Department of Home Affairs to issue IDs and passports – is currently in pilot. Lee emphasised that the process requires excellence across an end-to-end value chain, from biometric capture in branches to fulfilment.
Capitec plans to activate the service in 100 branches by mid-2026, expanding to around 300 branches by year-end, and scaling beyond that across its network of over 860 branches.
Key innovation highlights from the event
- Fraud Prevention: State-of-the-art, AI-driven security systems prevented over R300 million in client fraud this year, blocking 80 000 mule accounts and 200 000 scammer payments. Client-control features put the client in charge:
- Feature lock prevents fraud if a phone is compromised by locking features that clients rarely use.
- Digital fingerprint creates a unique phone identity using the contact list, immediately flagging app access from an unauthorised device.
- Location permissions have proven helpful in kidnapping cases and are actively used by 13 million of Capitec’s 14 million app clients.
- Payment innovation: Driven by over 200% growth in trading merchants, more than R1 billion was funded to small businesses this year. Capitec Pay has pioneered the most secure online payments (24 million monthly transactions) and became the first in South Africa to secure international e-commerce payments to global platforms like Shein and Netflix.
- Capitec Connect: Since March 2025, 1.1 million active SIMs have been rewarded with 449 terabytes of free data.
- Global Reach: Cross-border payments are available in 8 African countries and have recently expanded to Pakistan and Bangladesh. The bank has eliminated international transaction fees on card payments since 1 October, saving clients R55 million while simplifying international transfers to a flat R175 fee for over 50 countries.
Secure client experiences at scale
Live demonstrations showcased Capitec’s AI-enhanced fraud detection that can block mule accounts, biometric security features, in-branch technologies, and the zero-fraud performance of Capitec Pay.
CIO Wim de Bruyn highlighted the increasing complexity of digital crime, noting that South Africa lost R2.7 billion to financial crime in 2024. “It’s a daily battle – and we are fighting it with industrial-scale technology.”
Head of Financial Crime, Nick Harris, credited Capitec’s 2,000-strong team of engineers for driving this transformation. Their advanced fraud-detection models, cloud-based client-verification tools, and behavioural analytics have collectively prevented hundreds of millions in losses.
Harris also highlighted the importance of client-facing innovations: “One of our first cloud-based implementations in 2023 was a feature that tells clients whether they are really speaking to Capitec. Clients have shared remarkable stories about how those alerts stopped a scam in its tracks.”
Tech that removes barriers and empowers people
In-app calling via Amazon Connect has delivered a 30% reduction in call handling times, but more importantly, has removed cost barriers to support. Clients have already saved R5 million in airtime – ensuring that secure help is available even with zero airtime or data.
These innovations reflect Capitec’s commitment to solving real-world problems through technology that is human, accessible, and secure.
Empowering South Africans through education
Capitec also highlighted its extensive fraud-education initiatives, including Slam the Scam with Sis Thandi, Bank on It with BankerX and Business Day, regular communication via its app and WhatsApp platforms. These programmes educate millions in their home languages, and help combat social-engineering scams where persuasion and panic, not technology, is the primary threat.
Banking that helps people live better
Group Executive of Marketing and Communications, Francois Viviers, brought the conversation back to impact: “Every innovation we’ve shown today – whether it’s getting a Smart ID in a branch, verifying an in-app call, or sending money across Africa – is designed to help our clients live better.”
Cross-border payments have expanded from eight African countries to include Bangladesh and Pakistan, with more regions to follow. Capitec also removed international transaction fees on 1 October, making its card one of the most affordable ways to pay globally.
“We are building an ecosystem where banking is not just a utility,” Viviers said, “but a catalyst for personal and financial growth.”
A future built on trust
Capitec CEO Graham Lee reinforced Capitec’s long-term commitment: “We are investing heavily in technology and innovation across all areas of our business, to transform client service – and above all, to invest in trust. The most important application of technology is keeping our clients safe.”
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