Sunday , May 9 2021

6 things you need to know about Discoveri Bank

"Bearing in mind our current poor-quality culture and the need for personalized banking that is transparent, fair, efficient and controlled, the case of termination is clear. The goal is to solve this need using our Share-Value model to build the world's first-class bank "said the CEO of Discoveri Group, Adrian Gore.

Here are six things you need to know about Discoveri Bank.

1. Vitaliti Monkey application

The banking system will contain the application Vitaliti Monet, which will provide incentives for "good" financial behavior. One of the objectives requires an analysis of financial needs, which could lead to a discount on life insurance premiums.

2. The bank will have more than 200 functions

These features will allow users to set up budgets and monitor spending. It will also contribute to improving discounts and interest rates.

3. Incentives for financial behavior

Good financial behavior can earn rewards such as discounts on flights, gym memberships, fuel, Uber travel and discounts on retail.

4. Fully digital

You can access the bank from anywhere, anytime you have a smartphone. Everything is done digitally, so account holders can avoid long banking rows.

5. 10% of black ownership
According to Gore, 10% of shares of the bank will be owned by black clients.

6. Dynamic interest rates

In the first of its kind in the South African banking industry, this function will link interest directly with the financial behavior of account owners.

This will allow customers to earn more interest on savings and pay less interest on credit. Everything will be based on the financial behavior of the account holder.

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