In partnership with SA Home Loans, Capitec Bank has announced a full home loan offering, which allows applications to be trackable in real-time online, with communication describing the details of each step and if anything is required from the client.
This is the latest digital solution that Capitec has brought to the market in recent weeks. Recently, the bank launched an online financial education platform offering financial literacy on savings, spending and debt management.
The Live Better Academy offers practical tips and strategies to help people make smart financial decisions and achieve their goals.
The course series can be completed on a smartphone, tablet or PC, and requires less than 200MB to complete.
Last month, Capitec added investment platform EasyEquities to its banking app, allowing its clients to invest in equities on stock markets in SA and the US.
The bank’s clients receive a 20% discount on brokerage fees when using the new widget and pay zero data costs when accessing it.
Commenting on the bank’s latest digital solution, Francois Viviers, executive of marketing and communications at Capitec, says the offering was developed in response to strong demand for a simple and efficient, digitally-led home loan option.
“We’ve continually received requests from both clients and the public asking us to challenge the norms of home loans as we have done with banking.
“Previously, application processes have required a lot of paperwork as well as time. We’ve simplified this by offering potential clients an easy four-step online application that takes less than five minutes to complete. You don’t need to have any documents on hand and the questions are easily answered through multiple choice or simple entries such as name, surname and income.
“We’ve also made it easy for clients to track the progress of their application in real-time through our online portal. We found most application tracking to be vague or use terms that are not easily understood by someone who is unfamiliar with the process. Our tracking is comprised of six easy-to-follow steps, with clear communication describing the details of each step and if anything is required from the client.”
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