Capitec wins Best Digital Bank - SITEisfaction® 2022

Infographic_Best digital bank

Since 2012 InSites Consulting South Africa runs its annual SITEisfaction® survey. The report is an annual measure of customer satisfaction with digital banking services in South Africa. It rates banks’ internet- and mobile-banking platforms with a score from -100 (worst possible experience) to +100 (best possible experience), combining two scores from internet (via computer web browser) and mobile banking (via mobile apps). The two combined scores create the Best Digital Bank category.

Customer data from this year’s SITEisfaction® results indicate that Capitec has claimed the top spot as South Africa’s Best Digital Bank for the second time in a row, with a score of 80. The bank placed first in 2021 as well, with a score of 81. And similar to 2021, FNB is only slightly behind Capitec with a score of 78. Nedbank claims third place this year with 73 points, followed by Standard Bank (70), TymeBank (65), and Absa (64).

Other headlines from the SITEisfaction® 2022 report are:

  • Capitec ranks first in the Mobile Banking category, but FNB claims the top spot in Internet Banking, where the bank edged out Capitec slightly (77 points vs 76.9 points).
  • 11% of digital banking users in 2022 have only been using digital banking for 6 months or less.
  • 68% of consumers claim to have been targeted by fraudsters – an 8% increase since 2021.


As in previous years, FNB and Capitec are still battling for 1st and 2nd places since SITEisfaction® was introduced in 2012. Both banks receive plaudits for providing trustworthy platforms, but Capitec’s are seen as easier to use whilst FNB is seen as more innovative – a narrative we’ve seen play out year after year. Additionally, FNB’s users appreciate that they never have to visit a branch and can do almost everything online, whilst Capitec’s users mentioned they welcome the extent to which they can personalise their accounts.

Despite this, both banks should remain vigilant of other banks hot on their heels: TymeBank is a mere 2 points behind FNB in the Internet Banking category (75 points vs 77 points). Linda Appie, Chief Marketing Officer at TymeBank, says, “We are encouraged by the positive feedback regarding our internet banking platform; this validates TymeBank’s commitment to empowering South Africans to manage their finances. And we’ll continue to enhance our digital interfaces to deliver exceptional banking solutions to the well over 5 million customers who trust us with their financial needs.” A promising performance is also seen from Standard Bank, that claimed second place in the Mobile Banking category (78.91 points), mere decimals ahead of FNB (78.37). Standard Bank received applause for their excellent online customer service and user-friendly interface. Belinda Rathogwa, Head of Digital Banking and E-Commerce for Consumer and High Net Worth Clients at Standard Bank, says, “We are encouraged by the SITEisfaction® 2022 results. Standard Bank remains committed to providing digital banking solutions that deliver value and meet client needs. We remain focused on delivering meaningful digital banking solutions that are secure and easy to use and deliver a consistent experience to our clients.”

Nedbank has also displayed a positive performance: in the Internet Banking category, the bank has increased its score from 63 points in 2021 to 69 points in 2022. Users attribute this to a reliable and trustworthy platform, as well as the bank’s improved communication regarding updates, features, and security measures. Nedbank has also increased their score in the Mobile Banking category with 1 point (from 76 points in 2021 to 77 points in 2022), where the bank is praised for their innovation and constant improvement to the platform.

While Absa has shown a consistent performance year on year with no shifts in any direction in 2022, the bank still shows the most impressive 5-year trend across both the Internet Banking and Mobile Banking categories. Over the past 5 years, the bank’s Internet Banking score has increased by 13.7 points (48 points vs 62 points), and its Mobile Banking score by 8.2 points (59 points vs 67 points). Subash Sharma, Head of Digital Channels at Absa, says, “Absa takes note of the annual SITEisfaction survey. The report reflects notable improvement on Absa’s part in key categories, particularly pricing (Reasonable Fees) where we’ve noted a 7% improvement from last year, and Trust which went up by 4%, with over 1.4 million now able to authenticate digitally using AbsaID (a facial biometric capability). Absa’s digital solutions continue to attract international recognition as evidenced by several major awards this year. We remain committed to providing our customers with a world-class digital banking experience on a consistent basis, delivered with best-in-class security systems.”

Infographic_Inclusive connectivity

This year, SITEisfaction® also placed greater emphasis on digital inclusivity – the notion that all individuals, regardless of their situation, should have access to technology and online content, and that banks should empower these individuals to use the platforms autonomously, which allows them to stay in better control of their finances. The results revealed that there are three A’s of financial digital inclusivity which banks should aim to fulfil: Access (or technical inclusion, which is about ensuring a consumer has access to the relevant digital platform and that the platform works seamlessly), Ability (or information inclusion, which relates to educating and informing consumers about how to use a platform), and Affordability (or economic inclusion, which means providing access to an affordable device and data to access a digital platform, but also includes affordable banking fees).

Anneri Venter, Business Director at InSites Consulting South Africa, comments: “In a consumer’s mind, there is a deep sense that digital inclusivity in banking is about giving everyone the same rights, making sure that no-one is excluded. It’s the idea that everyone has equal opportunities and an equal playing foot to thrive in their lives through their finances, and it’s a bank’s duty to ensure that everyone has the same tools to equip themselves for a brighter future. Ultimately, banks earn consumers’ respect when they help the marginalised, vulnerable and under-resourced communities, and treat them the same way they would a premium banking client.”

The SITEisfaction® 2022 report explores the digital-banking sector in more detail on topics including internet banking, mobile banking, the threat of fraud, and how digital inclusivity can be achieved.

Do not hesitate to get in touch for more information and/or to purchase the full report.

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