Banks in South Africa are currently looking for people for these tech jobs

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Taking IT positions in the South African banking sector showed strong growth in August, new data shows.

According to Retail Banker International, citing GlobalData’s Job Analytics database, the local banking and payments industry registered an 11.8% increase in IT hires.

Capitec told BusinessTech last month at its headquarters in Stellenbosch that it is recruiting in the data and technology space. Wim de Bruyn, Capitec’s chief information officer, said the bank — the largest in the country by customers — has targeted about 500 data people and technologists.

He said more products would require a larger pool of tech and data experts.

Similarly, Standard Bank also increased its recruiting budget in the tech space earlier in 2022, while FNB started a recruiting campaign midway through last year – recruiting 300 experts with engineering, technology, data and quantitative skills.

According to GlobalData, Sanlam posted 132 IT jobs in August, followed by FirstRand with 101 jobs, Discovery with 80 IT jobs and Standard Bank Group with 51 jobs.

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The most sought after features included:

  • Software and web developers, programmers and testers – accounting for a staggering 41% of all industry titles in August.
  • Database and network administrators and architects claimed a share of almost 20%; while
  • Computer and information analysts had a share of about 19%.

While the country’s largest banks have largely accelerated their digital strategies after Covid-19, they still see cash remain essential to their business as nearly a third of their customers aren’t ready to go cashless, according to a survey.

While 86% of people already use digital banking, nearly all customers said they still withdraw cash at least once a month to meet various needs, Bloomberg reported, citing a survey conducted by Discovery Bank and Boston. Consulting Group. As long as a significant percentage of the population uses cash, the country cannot move to a completely cashless system, according to the report.

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“South Africa is still heavily reliant on cash compared to some other countries,” Hylton Kallner, chief executive officer of Discovery’s banking division. “But the direction, and consumer adoption and adoption of digital payments, and the fact that they see the future in that direction, is accelerating.”

Nearly a quarter of South African adults surveyed expect to bank with a digital bank by 2023.

Mike Brown, the CEO of Nedbank, in conversation with: Business day, said it is trying to move toward a balance that combines digital banking capabilities with in-person human interaction at the branch level.

“There’s a segment of people who like to do everything digitally, but there’s definitely a segment of people who need some digital combined with some human interaction,” he said.

“As banking becomes more digital, we like to think of it as ‘warm digital’: we’re digital when you want it, and we’re human when you need it. We feel that most customers need a little bit of both.”

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Graham Lee, director of the Capitec retail banking group, said the bank has no plans to reduce the number of branch networks, despite the migration to digital. Lee said a bank is selling trust to a consumer and that is often best conveyed in person.

Raj Makanjee, the chief executive officer of FNB Retail and Private Banking, said FNB branches would be up to 76% smaller than their current size in the future. Despite the digital migration, FNB noted that it also acknowledges that there is no technological substitute for personal advice.

“As a result, we believe that customers using our offices should be able to bank daily through our digital zones, with the ability to consult our experts for human assistance if needed,” said Makanjee.


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