Nedbank data shows South Africans still value assisted banking amidst digital adoption surge

More than half a million transactions and 60 banking services emanating from Nedbank self-service kiosks each month indicate an appetite for hybrid banking and present an opportunity to extend banking access to communities where digital connectivity or digital literacy remains uneven.

While digital banking continues to grow rapidly in South Africa, new transaction data suggests that many consumers still value physical and assisted banking services, particularly for complex transactions and when opening accounts.

According to Nedbank, its network of self-service banking kiosks processes more than half a million transactions each month, highlighting the continued role of assisted and hybrid banking channels in a rapidly digitising financial sector.

Launched in 2021, the bank's self-service kiosk network has expanded to 581 devices across Nedbank branches and selected Boxer retail stores, offering clients access to more than 60 banking services, including account opening, card issuing, payments, loan applications, and document printing.

The usage data reveals a particularly strong uptake among entry-level banking clients, who account for 56% of cards that are issued, followed by emerging middle-market clients. The data reflects a broader trend in South Africa's banking sector, where even though digital adoption is accelerating, many clients still prefer a blend of digital convenience and physical support, especially for key financial decisions.

'South Africans are increasingly comfortable with using digital channels but many still want the reassurance of a physical banking environment, especially when performing important transactions or opening accounts,' says Preni Naidoo, Executive for Cash and Self-Service Banking at Nedbank. 'We are seeing strong year-on-year growth in kiosk transactions, as clients appreciate the ability to complete banking tasks independently while still having employees available nearby if they need assistance.'

One of the most widely used features is instant card issuing, which allows clients to open an account and receive a personalised card in under 10 minutes. Today, close to 70% of instant-issued cards in Nedbank branches are dispensed through self-service kiosks, significantly reducing waiting times for clients.

The kiosks support a wide range of services with usage split across several transaction types such as card dispensing (26%), printing services (16%), product sales (7%), and other banking services (50%)

'Self-service technology provides a bridge between fully digital banking and traditional branch banking,' says David Schwegmann, Divisional Executive for Consumer Banking Channels at Nedbank. 'Many clients still value human support when navigating financial services, particularly those who may have lower digital confidence. Assisted self-service helps build that confidence while giving clients greater control over how they bank.'

Industry trends point to hybrid service models becoming increasingly important as banks look to balance cost efficiency, digital adoption and financial inclusion.

Internationally, several banks are adopting similar hybrid models by combining digital technology with physical support to improve accessibility. Banks in markets such as Singapore and India have introduced self-service banking lobbies and digital experience centres designed to blend digital efficiency with human assistance. Locally, the approach may also help extend banking access to communities where digital connectivity or literacy remains uneven.

Nedbank says self-service banking delivers operational efficiencies. For example, card dispensing through kiosks can be up to 37.5% cheaper than through traditional branch processes, while allowing clients to complete transactions faster.

As digital banking continues to evolve, the bank expects hybrid banking models to remain an important part of the South African financial landscape and has ensured its self-service banking kiosks can be accessed easily at its branches.

'Digital banking will continue to grow, but physical access points will remain important in the foreseeable future, particularly where clients want reassurance, guidance or immediate service. Our focus is on giving clients choice in how they bank, whether that is fully digital, assisted self-service, or in-person support,' Naidoo concludes.