SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Advanced Certificate in Banking Practice in the Digital Age 
SAQA QUAL ID QUALIFICATION TITLE
124894  Advanced Certificate in Banking Practice in the Digital Age 
ORIGINATOR
Chartall Business College 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
-   HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Advanced Certificate  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 06  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered  EXCO 0535/25  2025-10-02  2028-10-02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2029-10-02   2032-10-02  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The Advanced Certificate in Banking Practice in the Digital Age is designed to provide both existing bank employees, as well as new banking entrants, with an understanding of advanced banking concepts, digital platforms, and challenges within a typical bank. This qualification has been designed to meet the regulatory requirements of the Financial Services Conduct Authority (FSCA) for advisors and intermediaries in the banking industry, thereby maximising its relevance for learners. In addition to the FSCA requirements, the qualification also meets the Institute of Bankers' requirements for professional registration as a Certified Associate of the Institute of Bankers in South Africa.

The main purpose of the qualification is to develop the competencies, knowledge, and skills required for people to operate effectively at mid-levels in a bank in the digital age, either as a manager or as a technical specialist. The qualification will enable the learner to plan, perform, and coordinate banking functions and operations, while at the same time carrying out mid-level management roles such as supervision of an operational team or the management of a specialist area. The qualification is broad-based and covers banking from different perspectives, such as operations, digitalisation, investments and ESG and Socially Responsible (SR) investment. It exposes the learner to a range of related business knowledge areas such as economics, behavioural economics, cyber security and digital transformation, all of which are key competencies in a banking environment as well as in other sectors. A common thread is the synergy of banking strategy and digital technology for operational efficiency and sustainability considering the latest trends in investment, digital money and private or commercial banking.

The range of topics included in this qualification gives the learner a holistic understanding of both business and banking practice in the digital age, as well as the vital links between them. The qualification will enable learners to proceed to higher levels of learning in banking and/or financial services in both the higher education and the occupational learning fields.

Rationale:
The banking sector is a large employer in the South African economy and has a well-established and wide learning pathway with a variety of specialisations to equip people for the large range of banking roles and jobs in the sector. The banking learning pathway is continually evolving as society and clients' needs change. The digital and electronic revolution over the last decade has had a tremendous impact on banking, with new skill sets and approaches needed by bankers to meet the ongoing and new service needs of their clients, with whom they have very few face-to-face interactions.

The digital revolution requires a new specialisation in the banking learning pathway to enable bankers to be competent, efficient, and effective in the digital age. This qualification is the second qualification in the digital banking learning pathway. It builds on the Higher Certificate in Banking Practice in the Digital Age, Level 5, and can provide access to a Diploma, Level 6 or a bachelor's degree, Level 7, in banking and financial management.

As before, the banking sector still needs sound corporate governance, ethical staff members who are both competent bank managers and bank administrators, strong security measures, workable transformation procedures and processes and approaches that ensure the sustainability of the organisation. In addition, banks need staff at all levels who function competently in the digital era. This qualification will teach learners to manage a banking unit while understanding the impact of digitalisation, Environmental, Social, and Governance (ESG) investing, cyber security and banking-crime prevention. These are critical areas to ensure operational success in a modern-day bank. This qualification provides learners with an integrated knowledge of banking business processes, technology, strategic thinking, ethics, and digital stakeholder engagement and sales. It explores the future of both digital banking and behavioural economics as they are applied to the financial sector, customer service, investment decision making, and sales.

The Sector Skills Plan for the banking sector reflects a need for skilled banking staff who understand information technology (including digitalisation), credit and business risk analysis, financial sector regulatory compliance, commercial, retail and private banking, as well as bank management and leadership. The qualification develops all these requisite competencies for the scarce and critical banking sector jobs. It also develops the knowledge and skills required for new and emerging trends in banking, such as environmental, social, and governance (ESG) investing, blockchain and digital money, and behavioural economics.

The qualification is of most value to a learner who is already working in a bank and wants to build on his/her cognate NQF Level 5 qualification. Alternatively, it would also suit a full-time learner who has completed a cognate NQF Level 5 qualification and who wants to gain more learning and knowledge in various banking disciplines before entering a bank. The qualification gives access to multiple job roles and careers in the banking and financial services sector. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Recognition of Prior Learning (RPL):
RPL for access:
  • Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
  • To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal, and/or informal learning to cope with the qualification expectations.

    RPL for exemption of modules:
  • Learners may apply for RPL to be exempted from modules that form part of the qualification.
  • For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

    Entry Requirements:
    The minimum entry requirements for this qualification is:
  • Higher Certificate in Banking in the Digital Age, NQF Level 5.
    Or
  • Higher Certificate in Banking, NQF Level 5. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    The qualification consists of compulsory and elective modules at NQF Level 6 totalling 124 credits.

    Compulsory modules, NQF Level 6, 100 credits:
  • Digital Transformation in Banking,20 Credits.
  • Bank Strategy, Operations, and Technology,20 Credits.
  • Environmental, Social, and Governance (ESG) Investing,12 Credits.
  • Ethics and Compliance in the Digital Age,12 Credits.
  • Economics,12 Credits.
  • Behavioural Economics and Finance,12 Credits.
  • Cyber Security and Financial Crime Prevention in Banking, 12 Credits.

    Elective Modules, NQF Level 6, 24 Credits (Choose two modules).
  • Professional financial advising for private bankers,12 Credits.
  • Introduction to Investments and Securities,12 Credits.
  • Blockchain, digital money & digital finance, 12 credits.
  • Business Risk Analysis for commercial bankers,12 credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Analyse the evolving landscape of banking technologies and their impact on banking operations in the digital age and formulate future-driven strategies for the organisation.
    2. Examine and develop cybersecurity strategies to protect businesses (including banks), by analysing threats and their potential impact and developing preventative strategies in the digital business environment.
    3. Analyse and apply ethical principles to guide the professional conduct of banking professionals, particularly in the context of digital banking, Environmental, Social and Governance (ESG) Investing, and Social Responsibility Investing (SRI).
    4. Evaluate the factors that influence the client's general and financial decision making, including cultural differences, behavioural biases, economic conditions, and other relevant factors, and apply this knowledge to provide tailored financial advice and services.
    5. Evaluate the principles and practices of Environmental, Social, and Governance (ESG) Investing, and Social Responsibility Investing (SRI), and propose strategies to integrate them into banking and financial services.
    6. Analyse and apply specialised knowledge in any two selected areas of banking (such as private banking, investments and securities, blockchain and digital money, or business risk analysis for commercial banking) and synthesise this knowledge to offer informed recommendations or solutions. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Explain the importance of implementing digital governance processes within the banking and financial services sectors, particularly in the digital age.
  • Review the position of banking in relation to digital transformation with an explanation of who the players are and what the systems are and should be able to do.
  • Analyse the essence of digital transformation and explain the five key domains of digital transformation (customers, competition, data, innovation, and value).
  • Evaluate the software development methodologies, engineering concepts, developmental languages, databases, AI, machine learning and data analytics that are required for digital transformation.
  • Assess the implications of a bank's strategy in terms of key changes that will be required to its structures, systems, and culture, and propose how these could be managed through effective leadership and management of operations.
  • Discuss why companies who do not keep up with digital transformation are failing or falling behind and detail the impact that customer behaviour trends have on digitization.
  • Analyse a bank's strategic position in the external environment such as the macro-economic environment, industry in general and the banking sector, with a focus on digital innovations that are affecting banks and banking.
  • Evaluate and reflect on own organisation's strategy and policy regarding cyber security and indicate any weaknesses that need to be addressed.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Demonstrate a detailed understanding of how vulnerable businesses are to cyber-attacks such as technological disruption, cybercrime, cyber threats, cyber espionage and sabotage, crypto jacking, etc., and identify who the key perpetrators of cybercrimes are.
  • Review the types of cybersecurity threats faced by modern organisations and their origin, both internal and external.
  • Determine the cyber risks in own environment and develop/recommend strategies to prevent and/or ameliorate them.
  • Examine the fundamentals of the international regulatory requirements for cybersecurity, and the role South African organisations play in national security.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Outline different views of ethics as determined by different cultures, value systems, religious groups, etc.
  • Evaluate and explain the need for a code of conduct in the banking sector.
  • Identify the moral considerations that apply to bankers that derive from the nature of bank products and services and explain how professionalising banking could help ensure those moral responsibilities are fulfilled.
  • Evaluate and reflect, from an ethical perspective, on the impact, and potential impact, of environmental factors and technological developments on current and future banking practice.
  • Demonstrate detailed knowledge of ethical and operational issues around cybersecurity and systems surveillance.
  • Review and comment on the ethical implications for individuals, organisations, and society of cybersecurity strategies and policy.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Explain how investment decisions are typically made by different types of banking clients and how culture and behavioural biases affect the decisions.
  • Demonstrate an understanding of the concepts used in behavioural economics.
  • Identify and explain what factors influence decision-making in general and investments in particular and interpret how these factors impact decision-making in different contexts.
  • Determine and explain what effect issues such as the prospect theory, other-regarding preferences, hyperbolic discounting, the fallacy of supply and demand, availability heuristic and the exposure effect, the cost of zero and the power of "free", and the decoy effect the economics of happiness, behavioural finance and neuro-economics have on investment decisions.
  • Apply economic principles to banking and the financial services sector.
  • Describe how markets compete under different economic conditions, and the role government plays in their operations.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Explain in detail the objectives and drivers of both ESG and SRI.
  • Provide information on existing ESG and SRI, showing what the benefits are to the public and the investor in each case.
  • Describe the benefits to organisations of adhering to good ESG and SRI practices.
  • Understand the key ESG and SRI risks faced by investors and explain the importance of shareholder engagement, community engagement and shareholder activism to mitigate the risks.
  • Determine and discuss the role of financial technology (fintech) in supporting the growth of green and sustainable finance and the steps that regulators, policymakers, institutions, organisations, and banking professionals can take to support the mainstreaming of green and sustainable finance.

    Associated Assessment Criteria for Exit Level Outcome 6:
  • Demonstrate detailed knowledge and understanding of the key terms, concepts, and role players unique to a selected area of banking.
  • Show in detail how a selected area of specialisation in banking contributes to the bank's overall performance as well as how the area has unique offerings/departments within the bank.
  • Describe in detail the typical client/beneficiary of a selected bank specialisation and discuss how the products and services the bank supplies to them are specially designed to meet their needs.
  • Debate the use of technology and digitalisation in a selected area of specialization.
  • Describe the various disruptions that are taking place in a selected area of specialization.
  • Identify the impact of the legal and regulatory environment on a selected area of specialisation.
  • Apply the key concepts of a selected area of specialisation to a practical scenario.

    Integrated Assessment
    The educational philosophy motivating the qualification content, structure, and delivery is essentially a holistic one, seeking to equip the learner for employment opportunities upon graduation and progressively developing the learner's intellectual, creative, technological, and perceptual abilities, thereby allowing for increasing competence and independence.

    The following principles apply:
  • Assessments are valid. They are designed to measure what they intend to measure. Thus, an assignment that requires logical deductions is not assessed for creativity.
  • Assessments are reliable. They are not subjective opinions without any relation to standards of quality accepted by a broader educational framework.
  • Assessments are transparent. It is clear how they relate to the aims and learning outcomes of the course and are easily understood by learners, staff, external examiners, etc.
  • Assessments are diverse. Different abilities require different methods of assessment. An examination, which requires an ability to memories data, may not be the best vehicle for assessing the ability to synthesise varying ideas.

    Assessment Practices are of three kinds:
    Formative Assessment:
    Formative assessment to give learners feedback on the progress they are making. This feedback takes the form of marking schedules, critiques of learner work or written feedback on essays, assignments, and projects.

    Summative Assessment:
    Summative assessment to establish what a learner has achieved at the end of each project, subject, and programme of study. It is used to determine competence in the subject outcomes and in the exit level outcomes of the qualification as an integrated whole.

    Workplace Integrated Learning assessment:
    Workplace integrated learning assessment, which assesses the learner's ability to:
  • Recognise where and how the theory and principles understood and mastered in formal academic learning situations can be applied to real-world business contexts.
  • Apply theory and principles in a work situation to improve own and business performance. 
    		•

    INTERNATIONAL COMPARABILITY 
    This qualification was compared with the following international qualifications.

    Country: United Kingdom
    Institution: The Chartered Banker Institute
    Qualification title: Professional and Responsible Banking in a Digital Age Certificate
    NQF Level: SCQF Level 7

    Purpose/Rationale:
    This qualification aims to develop the learner's knowledge, understanding and skills relating to banking in a digital age. A study of core banking principles and practice is combined with learning about the forces that are transforming the way we bank, and how banks are responding to meet the changing expectations of customers in an increasingly competitive environment. Key themes include responsible and sustainable banking and what it means to be a professional in banking in the current environment. By applying these principles, learners will be able to help their bank deliver its strategy, perform well at work, and serve customers, communities, and the wider environment well.

    This is for all bank employees in the UK and internationally. Particularly those new to banking, regardless of their own specialism, who want to expand their knowledge and understanding of the business they are in - the business of banking - and have that knowledge and understanding recognised through the award of a professional banking qualification.

    Upon completion of this qualification, a learner will be able to:
  • Understand and articulate what banks do, how they do it, and the significance of their role in the economy, society and the wider environment.
  • Match bank products and services to customers' needs, treat customers fairly, and contribute to a good customer experience.
  • Support vulnerable customers and customers in financial difficulty.
  • Apply a sound and responsible approach to lending.
  • Identify and be aware of different types of risk, regulation and legislation that apply to banking.

    The key models of the qualification are:
  • Banks and Banking in a Digital Age.
  • Serving Customers: Products, Services, and Distribution Channels.
  • Principles and Practice of Bank Lending.
  • Bank Risks.
  • The Legal and Regulatory Environment.
  • Professionalism and Ethics in Banking.

    Similarities:
  • The United Kingdom qualification compares well with the South African qualification as they both deal with digitisation, risks, regulations, ethics, and professionalisation and customer service in a banking environment.
  • Both qualifications are designed to accommodate learners who are in employment or full-time learners.

    Differences:
  • The United Kingdom qualification is pitched at SCQF Level 7, whereas the South African qualification is on NQF Level 6.
  • There are no entry requirements provided for the United Kingdom qualification.
  • The Chartered Banker Institute qualification is delivered online, whereas the South African qualification is delivered in a blended mode.

    Country: Germany
    Institution: Frankfurt School of Finance and Management
    Qualification title: Certified Expert in Digital Finance
    Duration: 6 months
    Purpose/Rationale:
    In this qualification, the learner will learn about the emerging digital landscape as well as the new market participants and products that have disrupted the market. By taking the qualification, the learner will be enabled to successfully deploy digital technologies in the institution and leverage digital financial services (DFS) in the target markets.

    Upon successful completion of this qualification, participants will have profound knowledge and practical skills around the following topics:
  • Understanding the history of financial services to reflect on today´s landscape, to better understand future scenarios for financial services.
  • Key technologies driving digital finance and financial inclusion.
  • Profound knowledge of the digital finance ecosystem and its key stakeholders.
  • Key product and innovation areas in digital finance.
  • Success factors and business models in digital finance.
  • Importance and latest models of regulation and supervision.
  • Principles and key trends in risk management around digital financial services.
  • Strategic Management of services and business models.
  • Rapid design and launch of new customer-centric products and services.

    The qualification modules:
  • The Digital Finance Ecosystem.
  • New Technologies.
  • Digital Payments and Remittances.
  • Digital Products beyond Payments/Credit/Savings and Insurance.
  • Regulation and Supervision in Digital Finance.
  • Risk Management in Digital Finance.
  • Strategic Management of Digital Financial Services (elective).
  • Customer Centric Product Design (elective).

    Similarities:
  • The development of key skills and knowledge for professionals to succeed in different professions around digital financial services, innovation, and technology implementation, as well as in regulation or risk management.
  • Evaluation of the actors who are driving future innovation and the technologies that have a lasting impact on the banking and financial services industry.

    Differences:
  • The German qualification is offered for 6 months, whereas the South African qualification is offered for one year.
  • The entry requirements for the German qualification are not specified, while the South African qualification requires an entry requirement of a Higher Certificate qualification.
  • The Level of the German qualification is not provided, whereas the South African qualification is on NQF Level 6.

    Conclusion:
    The Advanced Certificate in Banking in the Digital Age compares well with The Chartered Banker Institute's certificate and the Frankfurt School of Finance and Management qualifications detailed above, as they all offer similar modules, learning outcomes, and content focusing on digitisation risks, regulations, ethics, and professionalisation and customer service in a banking environment. They are both designed to accommodate learners who are in employment or full-time learners. 
    		•

    ARTICULATION OPTIONS 
    This qualification allows possibilities for horizontal vertical and diagonal articulation.

    Horizontal Articulation:
  • Diploma in Banking, NQF Level 6.
  • Occupational Certificate: Anti Money Laundering Analyst, NQF Level 6.

    Vertical Articulation:
  • Advanced Diploma in Financial Management, NQF Level 7.
  • Advanced Diploma in Management in Financial Planning, NQF Level 7.
  • Bachelor of Business Administration, NQF Level 7.
  • Bachelor of Commerce (Major in Banking), NQF Level 7.

    Diagonal Articulation:
  • Advanced Occupational Diploma: Financial Administration Manager, NQF Level 7. 
    		•

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.