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Should financial service providers take into consideration the positive behavioural change in consumers as part of their offering? Should the change be limited to only better financial management or have a broader connotation encompassing healthy living? Shared prosperity warrants an affirmative answer to both questions. The idea is not utopian any longer. It is being put into practice by a South African financial group, Discovery. It emerged as the game-changer in the insurance arena when it helped a significant portion of its client base embrace a clean-eating, gym-going, safe-driving culture. In 2019, the group launched Discovery Bank, the world’s first digital behavioural bank, in South Africa. Over a short span of two years, the bank has emerged as a key challenger bank witnessing a three-time faster growth in deposits relative to the market. Ranked as the seventh largest credit provider in South Africa, the bank boasts an arrear rate that is 65 per cent lower than ....
Cash-Strapped South Africans Desperate for Debt Relief iafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iafrica.com Daily Mail and Mail on Sunday newspapers.
Monday, 18 January 2021, 07:32 Set clear financial goals. BUSINESS NEWS - The New Year is the perfect time to review your finances and set attainable goals for 2021. Many people find themselves strapped for cash in the beginning of the year after the busy (and costly) festive season and as a result, people start the year on the back foot financially, says Cyber Finance founder and CEO, Hans Overbeek. It doesn’t have to be this way. If you make small changes, remain disciplined and plan ahead you can improve your financial position and learn to better manage your money in the long-term,” he says. ....