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Key Points:
- Capitec Bank’s nationwide system issues are part of a global technical outage affecting multiple sectors.
- The bank’s card-payment systems remain unaffected by the disruption.
- The global technical issues have been linked to an outage in Microsoft’s online services.
Capitec Bank Holdings, South Africa’s largest bank by customers, is dealing with nationwide system issues caused by a series of global technical glitches.
These disruptions have affected services at banks, airlines, and other institutions worldwide. Despite the challenges, Capitec Bank’s card-payment systems remain operational.
The Stellenbosch-based bank confirmed the issues in a post on X (formerly known as Twitter), stating that it is an “international issue which is affecting multiple banks and retailers.” The bank is actively working to resolve the problem and has apologized for any inconvenience caused to its customers.
Capitec Bank’s response and ongoing efforts
Capitec Bank, co-founded by South African billionaire Michiel Le Roux, is known for its resilience and innovative approach to retail banking. The bank’s swift response to the current technical issues underscores its commitment to maintaining reliable services for its customers.
While the recent system issues present a challenge, Capitec Bank’s robust infrastructure and proactive measures are aimed at minimizing disruption and ensuring the continued functionality of essential services like card payments.
Global impact and Microsoft outage
The technical problems experienced by Capitec Bank are part of a broader issue affecting numerous lenders, airlines, and the London Stock Exchange.
The source of these disruptions has been traced back to an outage in Microsoft’s online services, highlighting the interconnected nature of global digital infrastructure.
Despite the recent technical setbacks, Capitec Bank has demonstrated strong year-to-date performance with a 7.71-percent rise in its share price.
