The stability and credibility of the Online Verification System is crucial to bank safety.
Capitec supports the Department of Home Affairs’ initiative to upgrade the National Population Register and enhance the stability and reliability of its Online Verification System. A secure and stable national identity system is crucial for safeguarding South Africans against fraud and fostering a trusted digital economy.
While we understand these crucial upgrades require a fee increase from the Department, we have decided to absorb the additional costs. This means our clients will see no change to their banking fees as a result of this initiative for the current financial year.
The digital identity verification service is a critical building block to prevent fraud, which ultimately comes at a significantly higher cost to all South Africans. By ensuring this system remains robust, we are helping to build a safer and more accessible financial future for everyone.
Capitec remains committed to working with the government to advance secure digital banking and protect our clients from evolving threats.
