Capricorn embarks on digital drive
STAFF REPORTER
With non-bank competitors aggressively encroaching on their space, retail banks are under pressure to adapt to an increasingly connected consumer base, or risk losing significant market share to disruptive banking alternatives.
As a result, the Capricorn Group has established a digital division to shape and drive the group’s innovation and develop multichannel capabilities.
The team, headed by chief digital officer Abri Nel, is tasked with transforming the Capricorn Group into a digitally enabled enterprise, by enhancing its existing capabilities and using technology to build new business models to improve performance.
“The value proposition and customer experience is greatly impacted by the digital channels and capabilities that customers can use. We believe that to be competitive and efficient, and to provide true value to customers, we need to enhance our digital capability and delivery to customers. Customers need access to self-service, and the most efficient and practical mechanism is by digital,” said Capricorn Investment Group chief customer officer Ryan Geyser.
With the focused investment in digital capability, the Capricorn Group says it is now gaining momentum and is rapidly catching up with competing banks, simultaneously complementing its products with unique and differentiating features that will position the Group to become the leader in the markets where it operates.
“We need to increase awareness of what we’re doing, which is introducing competitive, leading-edge technologies that truly add value to customers” said Nel.
“That means we cannot become followers of what other banks are doing. Rather, we continue to scan the worldwide market, focusing on specific opportunities that will allow us to leapfrog the status quo. We have a pipeline of ideas which we are developing through which we aim to change perceptions and transform the Capricorn Group as a digitally enabled organisation,” Nel said.
With non-bank competitors aggressively encroaching on their space, retail banks are under pressure to adapt to an increasingly connected consumer base, or risk losing significant market share to disruptive banking alternatives.
As a result, the Capricorn Group has established a digital division to shape and drive the group’s innovation and develop multichannel capabilities.
The team, headed by chief digital officer Abri Nel, is tasked with transforming the Capricorn Group into a digitally enabled enterprise, by enhancing its existing capabilities and using technology to build new business models to improve performance.
“The value proposition and customer experience is greatly impacted by the digital channels and capabilities that customers can use. We believe that to be competitive and efficient, and to provide true value to customers, we need to enhance our digital capability and delivery to customers. Customers need access to self-service, and the most efficient and practical mechanism is by digital,” said Capricorn Investment Group chief customer officer Ryan Geyser.
With the focused investment in digital capability, the Capricorn Group says it is now gaining momentum and is rapidly catching up with competing banks, simultaneously complementing its products with unique and differentiating features that will position the Group to become the leader in the markets where it operates.
“We need to increase awareness of what we’re doing, which is introducing competitive, leading-edge technologies that truly add value to customers” said Nel.
“That means we cannot become followers of what other banks are doing. Rather, we continue to scan the worldwide market, focusing on specific opportunities that will allow us to leapfrog the status quo. We have a pipeline of ideas which we are developing through which we aim to change perceptions and transform the Capricorn Group as a digitally enabled organisation,” Nel said.
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