Discovery will start rolling out its banking app to customers in March – here’s what to expect
Discovery Bank will begin gradually inviting additional clients to join its banking app from March this year.
A spokesperson told BusinessTech that the bank has been testing and refining its banking capabilities, with early access given to some Discovery employees exclusively over the past two-and-a-half months.
“We have been growing these numbers over the past few weeks, and are looking forward to inviting all Discovery employees to join shortly,” the bank said.
“These early access clients have signed up digitally on the Discovery Bank app, testing our paperless FICA process, and unique facial recognition to create their individual profiles. Those of them who were Discovery Card holders were smoothly moved onto our banking platform.”
Because of the digital nature of the bank, Discovery said that it has been able to test and release new functionality daily, with ‘highly-engaged employees’ making use of all the banking and reward features.
“This enables us to rigorously test and fine-tune the functionality, as we work towards building our world-class banking experience,” Discovery said.
“We’ve been delighted with the robust and lightning-quick performance of the app and the payment systems across the globe as our international testing of the card continues.”
“As the testing progresses, we will be gradually inviting additional clients to join from March this year.
“This is an exciting time and we are growing every day in a safe and responsible manner. New and exciting benefits will be added to the core functionality through our agile development cycles, with the ability to innovate rapidly on the platform,” it said.
Features
Discovery said that its app is aimed at being a ‘branch in the palm of people’s hands’ and will offer a number of unique features.
Tying into its goal of being South Africa’s first behavioural bank, many of these features will tie into other products offered by Discovery as well its rewards programme.
According to Discovery, some of the features that customers will be able to enjoy will include:
- Sign up in minutes with a paperless FICA process, with a unique selfie;
- See all one’s accounts at a glance and add new accounts and cards in minutes;
- Allocate overall credit balance between credit cards and overdrafts, and share credit with family members;
- Sort, filter and customise transaction views with unlimited transaction history, and attach till-slips to online statements for future reference;
- Pause cards, adjust limits in real time, and manage their PIN;
- Pay anyone in your contact list with just their cellphone number, and make all payments in real-time;
- Avoid queues when settling medicine co-payments at Dis-Chem or Clicks pharmacies;
- Discovery Health Medical Scheme members can link their health plan and Discovery Bank account and pay for any pharmacy co-payments seamlessly and immediately;
- Build money together as a family – adding accounts, sharing credit, sharing financial goals, and of course, sharing rewards;
- Set up budgets and track spend, and set up automated savings and get tips on how to save more;
- View other Discovery account balances – like their Medical Savings Account or investments.
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