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Global media company, Forbes Media, has released its first-ever ranking of the World’s Best Banks in 2019. Capitec rated as the best bank in South Africa, following on other accolades such as the top South African bank in the Lafferty global ranking three years in a row, (2016-2018), and the Sunday Times Top 100 Companies Award in 2018.

Forbes Media partnered with market research firm Statista to measure the best banks in nearly two dozen countries. Statista surveyed more than 40 000 customers around the globe for their opinions on their current and former banking relationships. The banks were rated on overall recommendation and satisfaction while trust, terms and conditions, customer service, digital services, and financial advice were surveyed.

The top banks per country were ranked based on the total evaluations collected. Forbes Media senior editor, Kurt Badenhausen, “the global banking industry has experienced a sea of change in the past decade. Consolidation, rock-bottom interest rates and the shift toward digital banking have catapulted the industry.”

Capitec Bank’s Marketing and Communications Executive, Francois Viviers says, “We help our clients to bank better by providing convenient and affordable digital banking, as well as, personalized service through our over 820 branches.” “We’ve simplified banking and challenge many of the industry norms, for instance, most recently bringing immediate payments down to R8. This approach has created some very satisfied customers, attracting international attention as one of Forbes World’s Best Banks in 2019.”

Viviers added, “We’ve set ourselves apart as a leader of relevant innovation in the local banking world. By embracing AI Technology (Artificial Intelligence) we’ve improved processes and efficiencies, which allows us to offer our clients lower bank fees and more personalised service. We believe that by understanding our clients’ banking behaviour, we are able to design products that make banking less of a grudge purchase and rather something that helps you better manage your financial life.”

PERSONAL FINANCE