CAPITEC AND DAON COLLABORATE TO LAUNCH NEW BANKING SOLUTIONS FOR CAPITEC CLIENTS USING DAON’S IDENTITYX® PLATFORM

RESTON, VA (OCTOBER 4, 2018) – Daon, a global leader in biometric identity technology, is pleased to announce that it has signed a multi-year agreement with Capitec Bank of Stellenbosch South Africa. Together the two organizations will collaborate on innovative solutions for the bank’s clients across a range of engagement channels, using Daon’s expertise and leveraging the human authentication capabilities of the IdentityX® platform.

Initially, the IdentityX platform will enable clients to digitally onboard so they may perform everyday banking transactions by using their own biometric characteristics.

“Daon is excited to partner with Capitec to deliver digital onboarding and authentication to its clients,” said Tom Grissen, CEO, Daon. “We share in Capitec’s mission for simplicity and client empowerment through convenient and secure choices for mobile banking.”

Daon’s IdentityX was selected by Capitec due to its rich functionality and expansion capabilities, providing a solid foundation for current and future innovations. With more than 10 million clients, Capitec strives for improving clients’ financial lives by saving time and money through advanced functionality, coupled with enhanced security and convenience to clients throughout the digital identity lifecycle.

“Capitec remains committed to providing an all-inclusive banking solution and harnessing the power of technology to make interactions easier and simpler,” said Wim de Bruyn, Executive Information Technology at Capitec. “We are eager to work with Daon to bring new and innovative solutions to our clients so we can continue to keep their banking experience affordable and secure.”

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ABOUT CAPITEC

Capitec Bank (JSE: CPI) is South Africa’s fastest growing full service retail bank. With over 10 million active clients and a 18% growth in headline earnings to R4.5 billion for the financial year ending 28 February 2018, Capitec Bank offers affordable, simplified and transparent banking with personalised service. Capitec Bank uses innovative technology to drive down costs and increase security, accessibility and simplified, transparent client interactions. Capitec Bank's Global One facility offers a range of transacting, saving, credit and now funeral plan options accessed in real-time using paperless processes and the country’s first in-branch biometric client identification system. Over 3 million Capitec clients now use the Capitec banking app to gain free access to their accounts and statements and to do payments, transfers and pre-paid purchases.

The bank currently employs over 13,300 staff members and has over 820 branches – and 4,600 ATM’s – across the country and almost 300 of these branches are open 7 days a week. In March 2017, Capitec Bank announced its investment in leading European online consumer loans company, Creamfinance (40% for €21 million).

Capitec has been ranked by consumers as SA’s Best Digital Bank 2017 according to the Columinate SITEisfaction survey and for the fifth consecutive year named South Africa’s best service and best value bank in the 2017 South African Consumer Satisfaction Index (SAcsi). It was rated best bank in the world in 2016 & 2017 by the UK-based global banking advisory group, the Lafferty Group.

For further information on Capitec Bank visit http://www.capitecbank.co.za or follow Capitec on Twitter and Facebook.

 

ABOUT DAON

Daon, www.daon.com, is an innovator in developing and deploying biometric authentication and identity assurance solutions worldwide. Daon has pioneered methods for securely and conveniently combining biometric and identity capabilities across multiple channels with large-scale deployments that span payments verification, digital banking, wealth, insurance, telcos, and securing borders and critical infrastructure. Daon's IdentityX® platform provides an inclusive, trusted digital security experience, enabling the creation, authentication and recovery of a user’s identity and allowing businesses to conduct transactions with any consumer through any medium with total confidence. Get to know us on Twitter, Facebook and LinkedIn.
 
Charl Nel, Head: Communications
Capitec 
mediaenquiries@capitecbank.co.za                                                                                                                          


Dyanne Smith, Senior Manager, Marketing & Communications
Daon
Dyanne.Smith@daon.com
703-984-4016