Capitec Bank’s latest app includes a ground-breaking feature that allows customers to open an account using facial biometrics from any place, at any time.
The process takes just a few minutes and uses advanced technology to ensure that the person in front of the camera is a real person, not a photograph, with photos being verified against the Department of Home Affairs database in real time.
Despite the fact that several commercial banks allow you to open an account with a selfie, some of them still need you to visit a branch to unlock your account.
Clients will open a Capitec account in minutes and obtain a virtual card to use right away without having to visit a branch.
According to the bank, the solution is simple to implement and uses sophisticated technology to identify a real person in front of the camera in just a few minutes.
These images are then cross-referenced with the Department of Home Affairs’ database in real time.
After authentication, applicants obtain an active bank account with a virtual card that they can use right away without needing to visit a branch.
Capitec’s executive director of marketing and communications, Francois Viviers, said demand for the bank’s digital banking service had increased by 28% year on year, taking the total number of digital banking customers to 8.6 million.
Contract officiating, which is usually performed in a branch, is also possible with Capitec’s app’s facial biometric help.
What’s Capitec’s virtual card and how does it work?
Capitec’s virtual card is a new service that provides an extra layer of protection to online shopping and subscription services. It is open to all clients.
The card details is securely stored on the Capitec app and is not linked to the customer’s physical card.
Customers can set their own daily spending limits on the virtual wallet, and if they suspect the card’s records have been stolen, they can have the card automatically stopped and a new one created for free on the app.
The virtual card can be used to make online transactions, pay with QR codes, and load into apps like Uber, Netflix, and MrD.
To open a Capitec account with a virtual card, follow these steps:
– The latest Capitec Bank app is available for download on Google Play and Apple App Stores.
– Scan your valid driver’s license or passport from South Africa.
– Take a few self-portraits.
– Complete the form with your personal details.