JOHANNESBURG – Discovery's financial services group has launched their very large bank today at its headquarters in Sandton, Johannesburg.
The Discovery Bank is expected to give South Africas's largest banks a strong competition including Standard Bank, Nedbank and FirstRand.
It is also one of six banks and banking services to publish in recent months.
Adrian Gore, chief executive of Discovery, said at the launch that the company was preparing to open its bank offer to the public in March.
Speaking with journalists at the headquarters of the group, Gore said that the group expects to continue the trial of the bank's feasibility over the festival season.
He also said that the behavior of the group was successful
A model would be extended to the bank.
This will include offering discounts to customers of up to 75 per cent for flights and fuels depending on their behavior.
"Traditional banks are based on silo and do not engage with people. Our bank will be based on behavior changes," said Gore.
Gore added that Vitality Money will be the base of the bank.
"We aim to make people healthy in financial sense," said Gore.
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