GoTyme Bank Receives BSP ApprovalNews

GoTyme Bank aims to unlock Filipinos’ financial potential

With a focus on providing high-quality banking experiences and unlocking the financial potential of Filipinos, GoTyme Bank aims to bridge the gap between traditional banking and a cashless society. Backed by the Gokongwei group’s brand and Tyme’s extensive experience in digital banking, GoTyme Bank is aiming to become a leading player in the country’s banking community.

According to GoTyme Bank, trust is a crucial factor in the success of digital banks worldwide, and it recognizes this challenge. With the rise of online and mobile banking options, security concerns have become prominent. GoTyme Bank acknowledges the need for reliability and transparency in banking services and is committed to building trust with its customers. By leveraging its partnership with the Gokongwei group and Tyme, GoTyme Bank aims to establish itself as a trusted and secure financial institution.

GoTyme Bank’s unique business model combines digital and physical systems, providing customers with a “phygital” banking experience. This approach ensures convenience, safety, and personal service. 

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“There has to be somewhere in between a cash-based society and a cashless society, and we call it ‘phygital’,” said Albert Tinio, co-CEO, GoTyme. “Our view is that digital banks are very well-placed, and GoTyme positions itself here, where we are more convenient than an e-wallet, and we are as safe or even safer than a traditional bank. We offer customers instant account opening and a free debit card at kiosks staffed by bank ambassadors across Robinsons retail locations nationwide.” 

Unlocking Filipinos’ financial potential

Through a network of kiosks located in Robinsons retail locations nationwide, GoTyme Bank offers instant account opening, free debit cards, and personalized assistance from bank ambassadors. This hybrid model sets GoTyme Bank apart from e-wallets and traditional banks, positioning it as a convenient and secure banking option.

One of GoTyme Bank’s strengths lies in its partnership with Tyme Group, which brings extensive experience in building, running, and scaling banks. Tyme Group’s success in South Africa, where it has acquired 7 million customers, demonstrates its ability to deliver digital banking at scale. GoTyme Bank leverages Tyme’s existing products and expertise to accelerate its product development and surpass other digital banks in the country. This experience and scalability contribute to GoTyme Bank’s competitive advantage and customer satisfaction.

GoTyme Bank’s mission is to unlock the financial potential of Filipinos by providing access to credit, investments, and insurance. With less than 3% of the population having access to these higher-value banking products, GoTyme Bank aims to address the unmet needs of the Filipino market. By offering seamless digital products and services supported by the human touch, GoTyme Bank creates a banking experience that was previously reserved for the premium market. The bank’s focus on financial inclusion and empowering individuals contributes to the sustainable growth of the economy.

“At GoTyme we’re at war with unmet financial potential,” said Nate Clarke, co-founder, president, CEO GoTyme.

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