Capitec Reaps Rewards Of Consumer-Driven Service Delivery

Humanness, social contracting, and trust – these are the three key aspects that influence customer satisfaction and retention, according to the latest trends reported by the 2013 Ask Afrika Awards. The Ask Afrika Orange Index uses audited, independent research to measure service in South Africa. Capitec Bank, the winner of the overall Banking Industry Award, cites its recent investment of over R200 million in customer service as the main reason for its success in customer satisfaction and retention.

A leading benchmark of retail service, Capitec was also named 4th overall out of 109 companies across 22 industries at the awards. Based entirely on the unbiased opinion of 15 000 South African consumers, Ask Afrika also revealed Capitec as the overall Banking Industry winner position, overtaking industry peers.

Capitec Bank CEO, Riaan Stassen, believes that its continuous investment in systems that contribute to better client service and more efficient processes in the branches are what lead to its win. “We have already introduced a number of improvements during the year, such as a new front end service flow which enables a side by side consulting with the client having full view of his/her information on our computer screens and the service flow.  Furthermore a queue management system was introduced to further enhance the service process. Other changes were to drive the paperless banking process further with our new system and introduce OCR (Optical Character Recognition) which assists the consultant to scan a document which pre-populates fields and therefore saves time and eliminates mistakes. These changes have already had an impact on the bank’s operations,” he said.

Besides service, Capitec Bank has also focused on growing its client base. It now has over 5-million clients as of August this year. This is a growth of over 750 000 active banking clients since August 2012. “This demonstrates the success of our customer-centric approach, as well as illustrates an increased understanding of our simplified and transparent offer,” says Stassen.

With the intention to increase its footprint to over 625 branches by year-end, a fundamental focus is to put service at the forefront for the existing, as well as incoming staff members.  “We want to ensure that every interaction with our staff is pleasant and sufficient.  When appointing new staff members we weigh aptitude, interpersonal skills and numeracy skills equally.”

As part of its continuous staff investment, Capitec recently conducted 130 national workshops over a period of 13 months among 6201 operational staff.  Their purpose was to instil a service-driven culture as well as up-skill individuals with the needed knowledge and understanding to ensure excellent service delivery.

Against the backdrop of the bank’s noteworthy AskAfrika win, as well as its consistent business growth even in tough conditions, Stassen concludes by saying, “We will not rest on our laurels and will continue to review and improve our core offering so as to best meet our client’s everyday banking needs.”

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