Discovery Bank And Worth Partner To Empower South Africans
Discovery Bank And Worth Partner To Empower South Africans. Discovery Bank and its online financial education partner, Worth, announced an exciting, limited offer to give more people access to the benefits of good financial knowledge. The objective is to empower every South African to make the right choices for a brighter financial future.
Until 30 September 2023, it is possible to complete a financial course that usually has a price tag of R5 000 for only R5. This practical financial education has been a catalyst for thousands of South Africans to change their money matters around for the better through small behavioural changes.
Discovery Bank, a fully digital bank, is built on the science of managing money well through five behaviours. Vitality Money includes various ways to encourage positive financial behaviours, motivates people to not spend more than they earn, save for the short term, invest for the long term, have the right insurance, and to take care of property needs at all stages of life.
“Part of managing money well and adjusting these five behaviours that have the greatest influence on our financial wellbeing, is having adequate financial knowledge. We are excited about broadening access to two specific courses, Wealthy Me or Wealthy Couples at this extremely low rate of only R5 through our partnership. It removes any restrictions in affordability to broaden people’s ability to build investment and other money management skills. And we are making financial education part of the behaviours we reward by giving Discovery Bank clients with Vitality Money, 10,000 Vitality points in the year they complete the course and another 5,000 Vitality points in the year after,” says Akash Dowra, Chief Growth Officer and Head of Client Insights for Discovery Bank.
Gary Kayle, Cumulate co-founder and Worth CEO, says,” Together, Discovery Bank and Worth are investing in the financial future of South Africans. The validation of financial education in promoting behavioural change can expedite critical socio-economic indicators such as credit scores, savings, and investments.”
Worth offers an innovative approach to improving financial knowledge and skills. Feedback from Discovery Bank clients confirm practical improvements in their ability to not only take control of their finances, but to also implement savings and investment strategies for the future. “The incredible results in positive behavioural change demonstrate the meaningful impact of financial education, irrespective of a person’s initial levels of income, education, debt or Vitality Money score,” added Hayley Parry, Head of Education at Worth.
