Capitec has launched a new feature on its mobile banking app which makes it possible for South Africans to open an account using facial biometrics.
The bank said the solution takes only a few minutes and employs advanced technology to recognise an actual person in front of the camera.
These images are then verified against the Department of Home Affairs’ database in real-time.
Once verification is completed, applicants get an active bank account with a virtual card they can use immediately without the need to visit a branch.
Executive of marketing and communications at Capitec Francois Viviers said the bank had seen high demand for its digital offering, with an increase of 28% over the past year to 8.6 million digital banking clients.
“We’ve received many social media comments from people saying they want to move to Capitec, but can’t find the time to visit a branch,” Viviers said.
“This new feature allows us to offer a convenient, digital way to join Capitec that takes only a few minutes and doesn’t require any paperwork.”
The facial biometric support on Capitec’s app also allows for the officiating of contracts, which normally has to be performed in a branch.
How a virtual card works
Capitec’s virtual card is a new feature available to all clients which offers an additional layer of security for online shopping and online subscription services.
The card’s details are stored securely on the Capitec app and not linked to the customer’s physical card.
Customers are able to set unique daily spend limits for the virtual card and if they suspect the card’s details have been compromised, they can immediately stop it and generate a new one on the app at no additional cost.
This virtual card can then be used for online transactions, QR payments and can be loaded in apps such as Uber, Netflix, and MrD.
Later this year, Capitec will also start allowing banking app users to apply for a physical card, which can then be couriered to them without having to visit a branch.
To apply for a Capitec account with a virtual card, follow these steps:
- Download the new Capitec Bank app from the Google Play Store or Apple App Store.
- Scan your valid SA ID or passport.
- Take a few selfies.
- Enter your personal details.