Discovery Bank launches AI-driven security features to disrupt South Africa’s banking sector

DISCOVERY Bank on Thursday rolled out a suite of artificial intelligence -powered tools and advanced security features to its clients that is set to rattle the banking landscape with its compelling innovative features.

- PHILIPPA LARKIN

With over 2.5 million accounts, this relative banking newcomer, which debuted as the world’s first behavioural bank in March 2019, is intensifying its bid to nab market share from South Africa’s entrenched banking titans: Standard Bank Group, First National Bank, Absa Bank, Nedbank, Investec and market disruptor Capitec.

Discovery Bank CEO Hylton Kallner framed the latest innovation by the bank as ensuring, “we can future-proof where bank connect seamlessly with every aspect of a client’s life – their health, finance, lifestyle, and aspirations.”

Kallner said Discovery “takes the best of Discoveryour data, technology, and shared-value model – and brought it all together into one seamless, secure and deeply personalised banking experience.”