{"id":501447,"date":"2021-06-28T07:01:22","date_gmt":"2021-06-28T05:01:22","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=501447"},"modified":"2021-06-28T07:01:22","modified_gmt":"2021-06-28T05:01:22","slug":"discovery-bank-launches-interactive-rewards-stack","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/501447\/discovery-bank-launches-interactive-rewards-stack\/","title":{"rendered":"Discovery Bank launches interactive rewards stack"},"content":{"rendered":"

Discovery Bank offers a unique client experience as a shared-value bank.<\/p>\n

And, with the Bank\u2019s new online interactive shared-value stack<\/strong><\/a>, everyone can see how financial products and individual financial behaviour interconnect to create much greater banking value through improved interest rates, lifestyle savings, financial rewards and sophisticated banking features.<\/p>\n

While bank rewards are often opaque and complex, the shared-value stack is designed to show people exactly what value they can get from Discovery Bank.<\/p>\n

The shared-value rewards for managing money well, manifest visually through a stack of banking benefits based on a variety of factors, including financial products, choices and Vitality programmes.<\/p>\n

\u201cWe operate in an entirely new category of banking \u2013 simply put, clients are not just offered banking benefits based on their income or segment. We\u2019ve seen that personal financial management and behaviours have a far bigger impact on the actual risk that people pose to a bank than just their income alone,\u201d says Hylton Kallner, CEO of Discovery Bank.<\/p>\n

\u201cWith our shared-value banking approach, each client is seen as an individual and their distinct financial behaviours play a role in how Discovery Bank determines their financial health; based on this, they are rewarded from the start to change or maintain the behaviours correlated to managing money well. We not only guide people to adopt the behaviours that lead to greater financial security, through Vitality Money, but also acknowledge managing money well, regardless of income level.\u201d<\/p>\n

The new interactive shared-value stack<\/strong><\/a> is a visual representation of how clients can tailor their Discovery Bank account and the rewards they can derive from it.<\/p>\n

It allows people to select products, a specific Vitality Money status and certain other factors, to see how every aspect of the fully digital banking products will manifest into market-leading interest rates, travel and shopping discounts, and Discovery Miles; a currency providing more value than cash which can be used in many different ways to add to clients\u2019 spending power and general financial wellbeing.<\/p>\n

To illustrate the impact on interest rates, Discovery Bank clients can save at up to 4% more or borrow at 6% less than the base rates.<\/p>\n

How the interactive shared-value stack works:<\/h3>\n

The interactive shared-value stack tool is available to everyone. Once on the website page:<\/p>\n

    \n
  1. Select a Discovery Bank card.<\/li>\n
  2. Select a Bank product (transaction account, credit card account or suite).<\/li>\n
  3. Tick the relevant Vitality programmes you have or want.<\/li>\n
  4. Choose your Vitality Money status from the status bar (Blue, Bronze, Silver, Gold or Diamond).<\/li>\n
  5. Scroll down to see your rewards and benefits.<\/li>\n<\/ol>\n

    Each decision creates set values of rewards associated with the products and Vitality Money status. It also allows the user to compare different packages on a side-by-side basis.<\/p>\n

    \u201cIllustrating the shared-value stack provides a new way for everyone to engage with Discovery Bank. They\u2019ll see how they can derive more value from managing their money well. Tools such as these can also help them identify financial behaviours to create more value, and they can see the exact value they get from Discovery Bank,\u201d concludes Kallner.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Discovery Bank offers a unique client experience as a shared-value bank.<\/p>\n","protected":false},"author":57,"featured_media":501449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[12923],"class_list":["post-501447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-discovery-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/501447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=501447"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/501447\/revisions"}],"predecessor-version":[{"id":501451,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/501447\/revisions\/501451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/501449"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=501447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=501447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=501447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}