News

Aconite powers debit, credit card launch for South Africa's digital-only Discovery Bank

May 17, 2019

Aconite Technology Ltd. has announced that Discovery Bank, a new digital-only challenger bank launched by Discovery Central Services Ltd., a South African insurance and financial services provider, has started issuing and processing EMV debit and credit cards using the Aconite EMV solution suite. 

According to a press release, the initiative is part of Discovery's expansion from a predominantly insurance-based business to a fully-fledged banking provider regulated by South Africa's Reserve Bank.

London-based Aconite has provided Aconite Payment Application Manager for EMV card issuing, card lifecycle and key management, Aconite PIN Manager for electronic PIN capture and distribution and Aconite EMV Transaction Manager for EMV transaction authentication and post-issuance control of EMV cards, including PIN changes and risk management.

"We are delighted to have reached public launch of Discovery Bank after an intense period of development, integration and implementation," Program Director Jérôme Frey said in the release. "Aconite's EMV product suite provided a stable platform on which to base our card issuing operation and the team's experience and expertise was an important contributor to our success in achieving this goal."