South Africa's Capitec Bank has chosen Mosaic Software's Postilion product to drive its ATM terminals and bank branch tellers across the country.
Additionally, Mosaic's administration product Postilion Office will be used for reconciliation with MasterCard and the bank's back-end system.
Capitec Bank recently a acquired a banking license and obtained both membership of the payments Association of South Africa and MasterCard certification. Its new 'paperless' banking model ensures that throughout the banking process, paper is only involved in the initial application. After the applicant's details have been captured on the bank's administration network, there is no further need for paper control systems. New account holders are issued with a bank card and PIN number instantly at a Capitec branch, giving them immediate access to their new bank account via the ATM.
Michiel Le Roux, chief executive of Capitec Bank says: "This is a wonderful combination of modern technology and the key elements of client convenience which provide a banking service with a real difference."