The emergence of entry-level bank branches in South Africa
The emergence of entry-level bank branches in South AfricaNovember 6, 2013 •
Between 2003 and 2011, the provision of bank accounts in South Africa grew from 30% to 46%. Technology and branchless solutions play key roles in improving access to financial services. Physical bank branches are, however, often critical to persistent high-value take-up and use of financial products as it plays an educational role and can build trust with the consumer beyond what is possible with technology alone.
This 2013 report investigates the increasing roll-out of low-cost, high-volume branches (referred to as entry-level branches) to the low-income market and explores what this shift means for the financial services landscape in South Africa.