In the latest episode of the Bank on it video and vodcast series, host Koshiek Karan, a former investment banker turned financial education influencer, sits down for an exclusive interview with Capitec executives to uncover the core philosophy — and the practical business strategies — that have propelled Capitec from a challenger brand to SA’s leading retail bank.
Capitec’s success isn’t built on complex algorithms or complicated banking jargon, but on a genuine commitment to human connection and a deep understanding of its clients’ realities.
Karan’s exclusive interview with Capitec’s Azhar Patel, executive head of Operations, and Dumisani Ncukana, executive head of Business Support Centre, Retail, offers invaluable insider knowledge for every business leader and marketer who recognises that the human element is the ultimate competitive advantage in a digital world.
Both Patel and Ncukana started their careers at Capitec in operational roles. Their hands-on experience, from working directly in branches to mastering back-end technical processes, has shaped both their leadership styles to be highly client-centric.
Internal mobility and succession planning is a key aspect of Capitec’s culture. The bank actively “pushes the ladder down”, viewing leadership development not as a process of replacement, but as one of continuous investment. Employees are encouraged to continuously develop and challenge themselves. Ncukana reveals that working in different departments, having more senior mentors as well as the opportunity to complete postgraduate studies, have all helped him progress within the bank.
Capitec’s in-branch strategy goes far beyond transactional banking and is built on the principle that hyper-localisation is key to meeting client needs. Unlike traditional models, the bank measures the success of its branches not just by new account openings, but by authentic engagements with clients. This is achieved by employing service consultants from the very communities in which the branch operates. This enables a level of trust and personal connection that generic service models or bots simply cannot replicate.
A critical metric for branch success is the client service score (CSS), driven by direct client feedback and the level of local empowerment achieved through the branch team’s involvement in community initiatives.
Capitec’s dedication to community is formalised through a strategic volunteerism programme. More than just corporate social responsibility, the bank’s volunteerism is a direct expression of the bank’s values, with teams in each region empowered to dedicate time to local causes like education, financial literacy workshops and support for local SMEs. These initiatives further entrench the branch within their communities.
Product development is inherently linked to making a tangible, meaningful difference in people’s lives. The core of Capitec’s competitive advantage lies in simplicity and affordability. The bank’s low fees and inclusive product offerings translate into savings for clients each month. The money clients save on banking fees can then be redirected into their families, education or communities. The bank measures the collective impact of these savings, understanding that every rand not spent on fees is a rand that empowers a client to be more financially secure, indicating the direct link between the bank’s business model and its social purpose.
Watch the latest episode of Bank on it now:
About ‘Bank on it’
As a leading financial institution, Capitec is committed to empowering individuals and businesses. Through its Bank on it leadership series of videos and vodcast, the bank provides authentic conversations and actionable insights that help entrepreneurs and business leaders navigate the complexities of today’s market, reaffirming its commitment to financial inclusion and innovation.
New episodes of Bank on it premiere every alternate week on Business Day TV (DStv Channel 412). You can also find them on the Business Day website and Business Day TV YouTube channel and Capitec’s YouTube channel and the bank’s website.
Follow the conversation and share your thoughts on social media using the hashtag #BankOnIt, and by following Capitec on Facebook, Instagram, X and LinkedIn.
This article was sponsored by Capitec.
