Discovery Bank said on Monday that it has topped a million customers on its books, and claimed it has reached this milestone two years ahead of plan.
The digitally led bank, which began operations in 2019, said it now has more than R16.6-billion in deposits.
Discovery Bank CEO Hylton Kallner said in a statement that the company’s “shared-value model” – the same one it pioneered in insurance and healthcare – has contributed to the growth in customer numbers. The bank is adding, on average, a thousand new clients a day.
New products
“Our goal is to drive financial inclusion by democratising private banking services to provide all our clients, irrespective of their product type or income, with personalised, excellent digital service and access to dedicated bankers,” he said.
Over the past year, Discovery Bank has introduced, among other things, a new revolving credit facility and a home loan offering that it said cuts up to 1% off interest rate repayments. – © 2024 NewsCentral Media