GoTyme Bank, a joint venture between the Gokongwei Group and Singapore-based multi-country digital banking group Tyme, targets to onboard five million clients in 2024 after its customer base hit one million after it opened in the Philippines 10 months ago.
“We’re incredibly happy with the reception that GoTyme has had in the Philippines. One million customers in under 10 months is a huge achievement but this is just the beginning. By the end of next year we intend to expand our customer base to 5 million+ customers by delivering a preferred banking experience to everyone,” said GoTyme Bank co-CEO Albert Tinio.
Hitting one million customers in less than a year is an impressive milestone , he added, which can be credited to its unique and groundbreaking approach to banking, combining the convenience of digital and person-to-person service.
GoTyme Bank addresses one of the most common banking frustrations of customers—talking to bots—by investing in human-focused service.
Noting the many institutions are veering away from person-to-person interactions in an effort to be more efficient and serve a wider network, GoTyme Bank, however, continue to maximize human connections integrated with digital expertise.
Customers have the option of opening a GoTyme Bank account via the GoTyme app or at any of its 350+ kiosks nationwide, through the help of designated bank ambassadors and have their debit cards, in under 5 minutes.
On top of earning 1 million customers, GoTyme Bank has been awarded Debit Card Initiative of the Year for having the best rewards program for a debit card in the Philippines, and Digital Wallet Initiative of the Year by the Asian Banking and Finance (ABF) Retail Banking Awards. The GoTyme Bank app and kiosk were also awarded best design from the Red Dot Award, an international design competition.
There are over over 1,300 GoTyme Bank locations nationwide, open 7 days a week. Since December 2022, the bank has increased its locations by 236 percent at Robinsons Supermarket, Robinsons Easymart, The Marketplace, Robinsons Department Stores, Shopwise, South Star Drug, and Uncle John’s.
GoTyme CEO Nate Clarke said the bank will be buffing up services with a suite of new incentives for users.
“In the future, users can conveniently borrow cash, receive and send money abroad, and deposit and withdraw cash via more channels and facilities. They can also look forward to time deposits and investment products in the near future,” he added.