Rooting every decision in a noble intention is not always easy.<\/p>\n
For Discovery, however, there is a golden thread \u2013 a core purpose to make people healthier, and enhance and protect their lives.<\/p>\n
This purpose is cemented in every decision through a globally recognised Shared-value Insurance model. In a move away from conventional banking, it\u2019s this model that sits at the heart of Discovery Bank<\/strong><\/a>.<\/p>\n The Bank\u2019s philosophy is that the better its clients do, the more value the Bank creates – value that can be shared back with these clients.<\/p>\n \u201cWe operate in a landscape that now, more than ever, demands innovation and digitisation, but also purpose and being an active partner in the lives of modern consumers,\u201d says Hylton Kallner, CEO of Discovery Bank.<\/p>\n Kallner says that no other bank in South Africa has taken on the challenge of improving its clients\u2019 financial wellbeing in a tangible way.<\/p>\n \u201cLearning from the valuable changes we have seen among clients using Discovery\u2019s behaviour-change platform in conjunction with its health administration products, short- and long-term insurance, and investment products, we saw the opportunity to keep elevating our purpose and Shared-value business model.\u201d<\/p>\n The Bank’s value proposition is enhanced through an intuitive client experience that is underpinned by state-of the-art technology.<\/p>\n It is also enhanced by Vitality Money, the Bank\u2019s behaviour-change programme that rewards clients for managing money well, staying fit, driving well and eating healthily \u2014 and offering Discovery Miles<\/strong><\/a>, a rewards currency that can be monetised, earned or spent at Discovery\u2019s suite of partners.<\/p>\n In just under two years since launching, Discovery Bank has attracted over R6.3 billion retail deposits, becoming the country\u2019s fastest growing* bank in terms of deposits, with strong growth in client spend of more than R17 billion.<\/p>\n The Bank is also seeing a solid trajectory in credit utilisation with over 565,000 accounts held by more than 300,000 clients.<\/p>\n