Banker S.A. July 2014 | Page 54

SURVEY A market ripe for growth Putting customers first will win the race to lead the banking market, writes Marius van den Berg, Banking & Capital Markets leader for EY Africa Advisory Services I n recent months there have been a number of surveys or pieces of research published on the South African retail banking market. This is indicative of just how competitive the market is, and of the challenges and opportunities facing banks in the country. On one hand, the South African financial services sector is very mature. For example, South Africa ranks second in the world for the availability of financial services, and third for the soundness of its banks, in the Wo