Press release -
Discovery Bank partners with Rubicon to bring solar and energy solutions to its clients
Johannesburg, 7 June 2023 – Discovery Bank is excited to announce a partnership with Rubicon, a trusted industry leader in solar solutions. This partnership will offer savings to Discovery Bank clients on high-quality solar and back-up power services for their homes. This reflects the Bank’s commitment to providing its clients with trusted, convenient, and flexible solutions.
Hylton Kallner, CEO of Discovery Bank, says,” While South Africans are resilient, the increased and ongoing interruption of electricity impacts all aspects of our lives and drives a need to find alternative ways to power our homes. We’re pleased to launch a financing solution that enables our clients to embrace solar, with the help of an excellent partner in Rubicon.”
The partnership has been designed with three main features in mind:
- Quality: Rubicon has extensive knowledge and experience in power solutions. Together, a comprehensive end-to-end service has been developed that ensures clients receive the highest quality products and installation, all backed by Rubicon's strong track record.
- Service and Support: From initial consultation to guaranteed installation within three weeks and post-installation service, the entire journey is designed to be hassle-free and straightforward for Discovery Bank clients. An intuitive online calculator will allow clients to get an instant quote tailored to their specific energy needs. Dedicated Rubicon Energy Advisors will be available to guide clients through the selection process, providing expert recommendations for each home.
- Funding Flexibility: Discovery Bank understands that each client's financial situation is unique. Therefore, it has developed flexible funding options that allow clients the freedom to choose an option to use a dedicated solar budget facility at interest rates from prime -2% over 72 months, ensuring affordability and financial peace of mind.
Caption: Discovery Bank CEO, Hylton Kallner (left) with Rubicon CEO, Rick Basson (right).
The offering has been launched initially to select clients and will be available more broadly over the coming weeks, as the offering scales up to ensure a focus on excellent customer service. The model leveraged by Discovery Bank will see clients own their solar asset (versus renting it) – allowing for a wider variety of products to choose from, no additional or hidden costs and tax deduction.
Says Rick Basson, CEO of Rubicon, "We are thrilled to partner with a fellow proudly South African company that shares our commitment to a sustainable future. By joining forces, we are poised to offer Discovery Bank clients access to cutting-edge solar solutions with highly competitive finance options. With Rubicon’s long and trusted track record in the solar energy industry, we are confident that together we can accelerate the race to net zero and energy security.”
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About Discovery Bank
Discovery Bank is part of Discovery Limited, a financial services organization that operates in the healthcare, life assurance, short-term insurance, savings and investment and wellness in over 40 markets. Discovery Bank is fundamentally designed differently through its shared-value model. Clients create value as they manage their money well that Discovery Bank shares back with them through better interest rates, deep discounts and significant rewards. The overall outcome is that clients experience greater financial wellbeing, it reduces the risk of defaults for Discovery Bank making the business more sustainable, and it addresses large-scale challenges, such as increased savings, that benefit society at large. Behaviour change and rewards are enabled through Vitality Money, an AI-Powered programme on the Discovery Bank app that which gives clients an understanding of behaviours that influence their financial wellbeing and how to manage their money. The better clients do, the higher their Vitality Money status and the greater the value they receive.
About Rubicon
Decentralised and sustainable solutions require a provider that understands the full technology journey. Our Energy, E-Mobility, and Sustainable Buildings divisions provide a range of sustainable technology solutions to clients. These include solar energy generation and storage technologies, electric vehicle charging infrastructure, specialised lighting solutions, building infrastructure monitoring and reporting services, as well as UPS and power factor systems.
