2018 is set to be an interesting year of change for the SA banking sector, as new competitors are set to enter the market. Results from my research collaboration with Brandseye paint an uncertain future for 3 of SA’s major banks.
Capitec has been a breath of fresh air for consumers. With their current trajectory, Capitec should continue to thrive, but the future is less certain for South Africa’s legacy banking brands. These businesses must act quickly to improve customer experiences and foster loyalty, or risk losing market share to the newcomers.
Following the release of our research collaboration, BrandsEye CMO, Nic Ray, and I spoke with SA Classic FM Business presenter Michael Avery about our findings and the future of banking in South Africa.
Click here to download the podcast of our conversation.