Good news for Capitec banking clients

Capitec’s share of formal complaints in the banking sector has declined over the past year as the bank has improved its client resolution strategy and clamped down on fraud.

This was revealed in the 2025 Banking Ombudsman data, which showed that Capitec reduced its share of all formal complaints from 21% to 16% year-on-year.

This is a notable achievement for the bank, as it comes despite rising complaint volumes across the industry and a 7% growth in Capitec’s total active clients to 26 million.

Capitec’s Group Executive of Marketing and Client Experience, Francois Viviers, said the bank has grown its investment in data, technology, and artificial intelligence to protect clients from fraud. 

“We’re proud of the improvements we’ve made and our team’s efforts to make things better for our clients. Protecting our clients will remain our top priority,” he said.

Capitec also improved complaint outcomes over the past year, with 82% of cases resolved in its favour, up from 78% the previous year. 

As fraud continues to be a growing concern across the banking sector, Capitec reported a decline in mobile banking fraud and phishing complaints.

This, the bank said, suggests that its prevention and awareness efforts are gaining traction. 

Capitec previously reported that it has blocked more than 131,000 fraudulent beneficiaries, including 64,000 mule accounts, and prevented over 394,000 scam payments over the past year.

This has helped Capitec clients avoid more than R673 million in potential losses.

The bank’s strong momentum is expected to continue into 2026, with the Banking Ombudsman’s first-quarter data showing that 84% of cases have been resolved in the bank’s favour year to date. 

“Capitec continues to invest in smarter, more responsive systems that not only detect fraud earlier but also strengthen trust by protecting clients in real time,” the bank said.

“We’ve improved our turnaround times, strengthened outcomes, and importantly, we’re seeing a decline in key fraud-related complaints,” Viviers said.

Cracking down on fraud 

Capitec’s results for the 2026 financial year revealed that the bank has attempted to crack down on fraud as its client numbers continue to rise and, with them, the pool of potential fraud victims.

One of the most difficult parts of combating fraud in South Africa is that a scam often needs to be caught before it occurs, as recourse afterwards can be limited if the victim was an active, if unknowing, participant.

For example, if a potential victim pays money to someone they do not suspect is a fraudster, there is little a bank can do after the fact to recover that money.

Therefore, one of Capitec’s main focuses in this regard has been investment in artificial intelligence (AI)-driven fraud models, which allow for real-time prevention and detection.

These models use behavioural and transactional data to flag and block suspicious activity. For clients, this could appear as a warning in their banking app when suspicious activity is flagged.

Capitec has also introduced a “Feature Lock” component on its banking app, which aims to offer proactive protection against unauthorised transactions.

Alongside this, the bank’s app now has real-time contextual warnings and active call identification to help clients spot potential scams.

To further educate clients on how to identify and protect themselves against fraud, Capitec has launched its “Sis Thandi” fraud awareness campaign.

Originally an audio-based character, Sis Thandi is a fictional talk show host who outlines fraudster tactics and how consumers can protect themselves.

The company recently updated the Sis Thandi character, now enhanced with AI-powered visuals to create a visual character.

While the bank has focused heavily on combating fraud against its clients, it has also had to direct resources toward protecting itself from scammers amid a rise in insurance fraud.

For example, Capitec has established a dedicated Fraud Investigation department, which uses AI fraud models, specialised internal resources, and external experts to target insurance syndicates and validate claims.