In this in-depth interview, Discovery Bank CEO Hylton Kallner tells TechCentral's Nkosinathi Ndlovu and Duncan McLeod about the progress it has made in its strategy, where its newly acquired customers are coming from, his views on upcoming changes to the National Payment System, the role of stablecoins and cryptocurrencies, and more.
Qualitatively, the bank is far ahead of what we expected when we set out to build it. The bank's progression qualitatively has thus far exceeded expectation in terms of the relevance to the group and the appeal to all South Africans, outside of the immediate Discovery ecosystem and client base.
What's interesting as well is we bias towards the urban centres where you have higher economically active proportions of our population. But we have clients across the whole of South Africa because we are not bound by physical branches, so the product tends to play well whether you are living in an urban centre or outside as well.