Discovery Bank hits 1 million accounts, expands banking and lifestyle benefits

Source: REUTERS.

To date it has over 450 000 clients and recorded over R11bn in deposits and R4.5bn in credit advances.

Hylton Kallner, chief executive officer of Discovery Bank, says: “The Bank has scaled quickly and built a uniquely powerful digital banking and technology capability. This is now being deployed as the de facto operating system for the Discovery Group in South Africa.

"Discovery Bank’s digital payments technology, advanced security features and shared-value rewards capabilities represent a unique opportunity to deliver new products and digital services to all of our clients.”

Today, as the Bank announced the milestone of reaching one million accounts, it revealed new products:

Discovery Bank launches integrated travel-booking platform

29 Mar 2022

“Our first million accounts is an endorsement of our shared-value banking model and provides us with a strong foundation to continue to disrupt the market. With all of the new services and capabilities announced today, our goal is to do just this and further enhance our clients’ banking, travel and payments journeys, and enable Discovery Bank as the operating system for all Discovery clients and products.” Kallner concludes.