Philippines’ Gokongwei Group and Singapore-based Tyme Group officially launched the digital bank GoTyme Bank. The new venture combines high-tech with high-touch approach to make financial solutions accessible to more Filipinos.
“The mission of GoTyme Bank to unlock every Filipino’s financial potential presents another great opportunity for us at the Gokongwei Group to deliver on our purpose, which is ‘an unrelenting commitment to providing our customers with better choices, creating shared success with our stakeholders,” said Lance Gokongwei, who heads the Gokongwei Group.
Using the term “phygital,” GoTyme established physical touchpoints (kiosks) and digital applications to give potential clients options on how they want to do their banking transactions.
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“At GoTyme we thought that going digital does not mean losing our human touch. In fact, it became our call out, to be digital and physical at the same time, ‘phygital’ so to speak,” said Albert Tinio, co-CEO and chief commercial officer, GoTyme Bank.
The GoTyme Bank debit card allows clients to make transactions 24/7 from local and international ATMs. For further convenience, one can also deposit and withdraw for free at Robinsons-affiliated retail outlets. There are already 15 kiosks in select Robinsons supermarkets that are ready to serve customers, with more locations set to open in the coming weeks. The GoTyme website will be constantly updated to show all the locations across Robinsons supermarkets and department stores.
With Go Send, GoTyme Bank customers can easily and securely transfer funds from the app, with three free transfers a week, on top of the free GoTyme to GoTyme transfers.
The Go Shop feature gives customers a better shopping experience. With each swipe of their GoTyme debit card, customers earn 3 times Go Rewards points at partner Robinsons stores and 1 point if they shop anywhere else making it one of the better modes of payment for the Gokongwei Group. These points can also be redeemed as cash, straight from their mobile apps.
With Go Save, customers earn interest without worrying about the promo durations, minimum balances, or maximum caps. GoTyme Bank also introduced “Save Your Change,” which allows customers to save by rounding up to the nearest P10 or P100 pesos and automatically putting that amount into their Go Save accounts.