As competition for scarce technology talent intensifies in South Africa’s banking sector, Capitec Bank is accelerating efforts to build in-house cloud expertise, signalling a strategic shift towards greater self-sufficiency in critical digital skills.
This is according to the bank’s integrated annual report for the year ended 28 February, which shows it expanded its digital learning ecosystem during the period with the launch of AWS Skill Builder, Amazon Web Services’ cloud training platform.
AWS Skill Builder offers a structured environment for individuals and organisations to develop in-demand cloud skills. The platform provides a mix of on-demand courses, hands-on labs and certification preparation pathways, covering foundational cloud concepts as well as advanced technical specialisations.
It is widely used by enterprises to upskill employees in areas such as cloud architecture, software development and data engineering, enabling teams to build, deploy and manage applications more effectively in cloud environments.
Capitec notes the initiative enabled 568 employees to participate in cloud-focused learning and certification preparation, strengthening foundational and advanced capabilities across the organisation.
The move comes as local banks race to modernise platforms, reduce reliance on external vendors and future-proof operations amid rising demand for cloud-native services and artificial intelligence (AI)-driven solutions.
Capitec’s peers in the local banking sector are facing similar pressures. Absa Group recently said it is accelerating its shift to cloud computing, while stepping up investment in AI and digital platforms, positioning technology as a central competitive lever.
Nedbank Group, in its latest integrated report, highlighted the combined impact of macro-economic and technological shifts, noting that demand for scarce skills and a growing war for talent remain key risks.
The bank added that the adoption of cloud, data and AI capabilities is increasingly constrained by a global shortage of high-calibre talent.
Meanwhile, Standard Bank Group is investing more than R1 billion in employee development, skills and well-being, but cautions that the scarcity and rising cost of specialised digital, data and AI skills are placing pressure on workforce sustainability and skills relevance.
Sustained learning momentum
Against this backdrop, Capitec is seeing strong traction in its internal upskilling drive. According to the bank, its cloud-focused platform Pluralsight recorded 2 071 hours of learning consumption during the year, supporting deeper technical specialisation.
On Udemy Business, it points out that employees completed 42 967 hours of training, up from 29 887 hours previously, while courses completed rose to 3 417 from 2 362 − reflecting growing participation and sustained learning momentum.
The bank is also embedding skills development into day-to-day operations through its Centres of Mastery, which drive peer-led learning, standardisation and thought leadership across domains such as engineering, data, payments and client experience.
The initiative is complemented by foundational technical masterclasses in areas including SQL, Java and JavaScript, aimed at supporting cross-functional mobility and strengthening internal talent pipelines.
To boost collaboration and knowledge-sharing, Capitec hosted 20 “Stoep Coffees” during the year − weekly sessions for engineering and client experience teams that provide informal platforms to discuss active programmes, emerging technologies and innovation, while fostering stronger team cohesion.
In addition, the bank expanded its innovation-led learning programme through seasons two and three of its internal “Dragons’ Den” initiative.
Delivered in partnership with the Centres of Mastery, the programme brings together cross-functional teams to develop and pitch solutions to real business challenges.
According to Capitec, across the two seasons, 93 ideas were submitted, with 16 teams progressing to a finals week where 67 employees participated in intensive prototyping and solution development. It notes that a total of R120 000 in prize money was awarded, and selected concepts were escalated to executive level and, where viable, moved into delivery pipelines.
Capitec explains that participation extended beyond its technology teams to include broader business units and branch network staff, underscoring its push for organisation-wide innovation.
Beyond generating new ideas, it says the initiative is also aimed at building core skills, such as design thinking, collaboration and executive communication, reinforcing its Centres of Mastery as hubs for applied learning and thought leadership.
Reaping rewards
As Capitec Bank continues to upskill its workforce, the bank is translating those investments into stronger digital adoption and customer growth, its latest annual results show.
Personal Banking remains its primary growth engine, with active clients rising 7% to 25.2 million and fully banked clients increasing 12% to 9.9 million. Digital usage is accelerating rapidly, with half of all payments now conducted digitally, while e-commerce transactions, including Capitec Pay, jumped 32% to 643 million and Pay wallet transactions surged 103% to 335 million.
The bank says one in three South African adults – around 15 million people – now actively use its app, marking a 19% increase.
As digital adoption expands, Capitec is placing greater emphasis on security and resilience. During the year, its fraud prevention systems blocked more than 131 000 suspicious beneficiaries, including 64 000 mule accounts, while AI-driven warnings prevented over 394 000 scam payments, saving clients more than R673 million.
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