Why Adrian Gore is smiling even though Discovery Bank missed its client acquisition target

jambai

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Oct 18, 2007
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Spin...I cant see how they will grow more clients with the way it is now in the economy
 
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ozziej

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Jul 22, 2009
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601
Discovery SERIOUSLY need to do some work on their backend before I switch to them from my current bank.
For one, stop sending me utterly retarded emails like this threatening me with legal action for owing them Rnull. Apparently they couldn't debit my discovery card (which was cancelled BY THEM with FNB and switched to their new bank) for a Rnull payment. (this is now the second time in less than a year)

Screenshot 2020-02-24 at 12.10.00.png
 

HasThisNameBeenTaken?

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Aug 25, 2015
Messages
97
Discovery SERIOUSLY need to do some work on their backend before I switch to them from my current bank.
For one, stop sending me utterly retarded emails like this threatening me with legal action for owing them Rnull. Apparently they couldn't debit my discovery card (which was cancelled BY THEM with FNB and switched to their new bank) for a Rnull payment. (this is now the second time in less than a year)

View attachment 790155
Eish bud, pay your CC.
 

Ninja'd

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Jan 7, 2010
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47,678
Go woke, but not broke just get slightly less money because people still love Vitality rewards.
 

Ninja'd

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This sign-up rate was part of the bank’s strategy to reach the bank’s break-even point of 500,000 to 600,000 clients.

Based on Discovery’s August 2019 target, it should have reached over 200,000 clients by now. This did not happen.

Discovery revealed in its interim results for the six months ended 31 December 2019 that Discovery Bank had 78,000 clients as of 18 February 2020.
Disregard previous post, they broke. Even Tymebank had more signups prior to their launch.
 

wernervn

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Joined
Dec 12, 2007
Messages
281
Discovery SERIOUSLY need to do some work on their backend before I switch to them from my current bank.
For one, stop sending me utterly retarded emails like this threatening me with legal action for owing them Rnull. Apparently they couldn't debit my discovery card (which was cancelled BY THEM with FNB and switched to their new bank) for a Rnull payment. (this is now the second time in less than a year)

View attachment 790155
Maybe it's all those Rnull payments that is making Adrian Gore smile
 

Swa

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May 4, 2012
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Can't seem to see the egg on their face after the PR disaster.
 

MightyQuin

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Oct 6, 2010
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rietrot

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Aug 26, 2016
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The rewards stuff is too complicated. They'll get a few nerds and people who've already bought into the virality nonsense, but that's it.
 

Forum Reader

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Aug 25, 2019
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340
The rewards stuff is too complicated. They'll get a few nerds and people who've already bought into the virality nonsense, but that's it.

That's probably their plan. Dumbasses are on average bad with their money and many end up defaulting on credit/loans.

The average smarter person who understands how to make use of the rewards ends up joining Discovery. These people default less on average.

They are also taking away the smarter pool and mostly wealthy/profitable clients from other banks and thus increasing the other banks dumbass proportion so eventually other banks are going to feel the pinch.
 

Nemoneiros

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