CAPITEC INTERNET BANKING SITE SERIES
CAPITEC INTERNET BANKING SITE DOWNLOAD

вЂњWe bolstered our digital offering while staying true to our fundamentals of simplicity, affordability and personalised service. вЂњThere are some really exciting things in the works,вЂќ says Capitec.вЂњActive digital users of the banking app, USSD channel, the internet or a combination of digital channels increased from 7.3 million at the end of August 2020 to 8.9 million at the end of August 2021, an increase of 22% (February 2021: 8.6 million),вЂќ Capitec said in a statement.ДЄs at the end of August 2021, there were 6 million active banking app users versus 4.1 million in the same period last year.

CAPITEC INTERNET BANKING SITE SERIES

Having built a secure communication channel between itself and each of its remote banking clients, all of whom it can uniquely identify, the bank has big plans for an expanded series of innovative new mobile offerings. CapitecвЂ™s clients can view account balances and transaction history, create and pay beneficiaries, transfer funds between their accounts and, as before, authenticate and digitally sign remote banking login events and sensitive transactions.

CAPITEC INTERNET BANKING SITE DOWNLOAD

Now, a couple of years later, this out-of-band authentication functionality has been deployed to the bankвЂ™s PIN-protected remote banking app, built from the ground up using the Transakt SDK, meaning that clients using the Internet and mobile channels are protected with the same application, available for download from all approved app stores.ДЇor this release, Capitec Bank chose to limit its remote banking offering to core on-the-go banking functionality, to ensure the app worked on the broadest range of mobile phones, including feature phones. This singular use of digital certificate technology is unmatched on the market anywhere in the world, and thwarts phishing and man-in-the-middle/browser attacks. (The app is linked to the mobile device and not the SIM card, insulating CapitecвЂ™s clients from SIM-swap fraud, which has climbed dramatically in South Africa in recent years.)ДЇor further protection, Transakt encrypts all transmissions end-to-end and includes the ability to digitally sign transactions, ensuring that only the registered account holder is able to authorise transactions on his account. Transakt deploys X.509 digital certificates to uniquely identify every enrolled mobile phone and the service provider itself вЂ“ so that both parties are verified to each other as legitimate. As an alternative to the OTP-based authentication method, it allowed CapitecвЂ™s clients to authenticate online banking transactions using their mobile phones. Powered by EntersektвЂ™s Transakt product, CapitecвЂ™s new interactive authentication method was released in August 2012. The authentication system Capitec had been using required hardware tokens that generate one-time passwords (OTPs) to its Internet banking clients. Looking backД®ntersektвЂ™s association with Capitec Bank goes back to early 2012, when we were enlisted to enhance the bankвЂ™s online banking authentication. To do so, its strategy is to invest in state of the art technology that maximizes ease of use while keeping costs down. The bank strives to design banking products that meet four goals: simplicity, affordability, accessibility and personal service. It serves in advance of 5.4 million clients from more than 630 branches and through its online and mobile banking channels. The app is built on EntersektвЂ™s Transakt SDK, and our staff needed no further reason to celebrate the launch with balloons and some of South AfricaвЂ™s best sparkling wine.Д¬apitecВ BankВ is a listed South African retail bank with over R46 billion (US$4.3 billion) in assets.

In June, news sites in South Africa heralded the release of Capitec BankвЂ™s all-new remote banking app.

Capitec internet banking site