Discovery Bank keeps innovating as clients flock to join
The digital bank has reached the 1-million accounts milestone and unveiled a slew of new products including a ‘pay-as-you-gym’ offering
Discovery Bank is taking on 750 new clients a day, putting it well ahead of its targeted run rate to reach its goal of between 600,000 and 700,000 total customers by 2024.
Hylton Kallner, CEO of Discovery Bank, told Business Day the bank had boosted its average client acquisition rate from about 600 per business day in December 2021. Kallner was speaking shortly after Discovery Bank unveiled a new “pay as you gym” offering and announced that it had reached 1-million accounts since it began accepting clients in July 2019...