More newcomers likely Yet this doesn't mean that the big four can rest easy, as newcomers will likely follow in Capitec's footsteps and may attract price-sensitive clients on the transactional side. "The entry level banks are not an immediate risk for established banks, but at the margin, they will have an impact on the growth of client numbers in the long run." At the same time, the benefit of a significant capital base at established banks shouldn't be underestimated, Meintjes says. New entrants must lure clients and establish themselves, while traditional banks won't be sitting still. "By offering product and service bundles, traditional banks can entice clients to stay." Nedbank is in a "very good position" to compete with digital entrants, its chief executive Mike Brown said after the release of its annual results on Tuesday. With eight million customers and three million primary client customers, incumbents like Nedbank have a huge advantage, he added.