Capitec Bank has 9mn Bio-key enrolled customers
13 March 2020 11:45 GMT

BIO-key, a provider of biometric authentication and security solutions has announced that flagship customer Capitec Bank Holding Company of Stellenbosch, South Africa has exceeded nine million customers enrolled in their BIO-key-based in-branch biometric client identification system.  Capitec customer enrollments in BIO-key have grown substantially since the bank deployed its system using BIO-key in 2015.  The innovative system for streamlining client identification while enhancing security for its customers was one of the first of its kind in South Africa.    

For over four years, Capitec has utilized BIO-key biometric technology to automate the positive identification of its clients at contact points in its branches. BIO-key was originally selected by Capitec in 2015 after comprehensive testing confirmed BIO-key’s accuracy and scaling capabilities, providing a solid foundation for current and future innovations in client security.  Capitec is growing rapidly, with more than 10 million clients, and has stated it strives to improve clients’ financial lives by saving them time and money through the use of advanced technology. 

“One of the most powerful indicators of the value we provide our partners and customers is when they expand their use of BIO-key software in the years after initially deploying it,” said Jim Sullivan, BIO-key SVP of Strategy and Compliance.  “Capitec was one of the first in the world to leverage fingerprint biometrics to secure their clients’ identities against theft and fraud. They demonstrated to their clients the advantages of using fingerprint data to increase their client’s security, offer paperless transactions and make banking faster.”