Press release -
Discovery Bank launches a new campaign to show why it’s a Bank like no other
Johannesburg, 25 January 2021 – A new multi-media campaign by Discovery Bank launched today brings home a unique concept in banking and the basis of Discovery Bank – that it is no ordinary bank, it is a shared-value bank.
Firoze Bhorat, Chief Marketing Officer at Discovery, says, “Yes, while some services, such as banking, have been around for centuries and inherently still work, the models are outdated and ripe for disruption. This is our philosophy with all Discovery businesses. Discovery Bank is revolutionising banking, essentially creating a new category of banking around shared-value to make a real difference in our clients’ lives as well as in society; consistent with our core purpose of making people healthier and enhancing and protecting their lives. This new campaign, with numerous connection points to audiences, aims to take shared-value banking to consumers in a visually enticing way while it highlights every aspect of how Discovery Bank shares continual value with clients in meaningful ways.”
The Bank’s unique way of incentivising, measuring and rewarding client’s financial behaviours is through Vitality Money. It measures how well clients manage their money – the better they do, the higher their Vitality Money status and the greater the value they receive – all through their shared-value stack of unprecedented rewards.
The new campaign by Discovery Bank consists of a brand advert that unpacks shared-value as a concept in banking. It visually displays how its technology, its behaviour-change platform and its personalised services and features converge to create a shared-value bank. The campaign also used a range of shorter adverts to focus on specific rewards and features.
As a whole, the campaign highlights how shared-value banking creates a completely new banking experience for a broad and diverse client base – offering a world-class banking platform with the latest technology. Together, these factors enable Discovery Bank to quantify and monetise the value of lower financial risk and return this to banking clients in the form of real financial gains. These take the form of better interest rates on credit borrowing and savings, and unprecedented discounts and rewards at partners; along with Discovery Miles that is a powerful rewards currency that’s more valuable than cash through a vast network of online and retail partners.
“Our clients have the tools to manage their money well through Vitality Money and they know that by managing their money well, they become more financially resilient. It’s good for the client and it’s good for us as a Bank, with better outcomes for all. With Discovery Bank, people can know they are at forefront of banking for the future – being part of a shared-value bank,” says Bhorat.
The manifestation of shared value-banking, a radical new approach to banking, is driven by Discovery Group’s long-standing model that has created a new category in financial services being used in South Africa and globally – shared-value Insurance.
This latest campaign was created with MetropolitanRepublic and launches on 25 January 2021 with a 75’ brand advert and will be supported through radio, digital and outdoor advertising mediums as well as on Discovery sponsorship platforms, for example, Formula 1 and Premier League, over the coming weeks.
Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, savings and investment and wellness markets. Since inception in 1992, Discovery has been guided by a clear core purpose – to make people healthier and to enhance and protect their lives. This has manifested in its globally recognised Vitality Shared-Value insurance model, active in 24 markets with over 20 million members. The model is exported and scaled through the Global Vitality Network, an alliance of some of the largest insurers across key markets including AIA (Asia), Ping An (China), Generali (Europe), Sumitomo (Japan), John Hancock (US), Manulife (Canada) and Vitality Life & Health (UK, wholly owned). Discovery trades on the Johannesburg Securities Exchange as DSY.
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