Capitec has joined forces with am accounting software start-up called, stub, to streamline financial management for small and micro businesses.

Under this partnership, Capitec has enabled direct integration between stub’s digital accounting software and the Capitec transactional data application programming interface (API).

Stub was launched in 2023 as an alternative to spreadsheets and manual accounting solutions. The software is used to track sales, manage expenses, make payments and access financial records in real-time.

In a statement, stub says the integration allows transaction data to flow directly from Capitec’s clients’ accounts into the stub accounting platform, eliminating the need for manual data capturing or other labor related workflow.

Stub explains that for small business owners, this collaboration means always having up-to-the-second insight into their income and expenses, enabling them to stay on top of their cash flow and business performance. The solution also automatically reconciles payments with associated invoice numbers and categorises expenses to the appropriate accounts. I might not entirely be sold to this but learning that the direct integration also supports Capitec personal accounts, recognising the reality that many South African entrepreneurs, from spaza shop owners and tradespeople, to freelancers and leisure dealers often run their businesses through personal bank accounts. This might just be a selling point I’m curious to explore.

“We launched two-and-a-half years ago to provide entrepreneurs with simple, accessible and powerful tools to enable them to build successful businesses,” says Tayla Dandridge, co-founder and CEO of stub.

“Our integration with Capitec bridges a critical gap for small business owners, many of whom haven’t had access to tools that integrate with the way they actually bank and work. Capitec shares our belief that entrepreneurs and hustlers are at the heart of South Africa’s economy.“

“As a start-up with big ambitions for the future, we are proud to work with a bank that’s enabling the kind of innovation and accessibility to fintech tools that our entrepreneurs and small businesses need.”

You can read more about this, HERE