The Gokongwei Group partnered with the Singapore-based Tyme Group to launch GoTyme Bank in the Philippines. The new bank has a “phygital” model combining physical touchpoints like kiosks with secure digital transactions to bring financial solutions closer to Filipinos.
During the October 20 launch in Makati City, Nate Clarke, GoTyme Bank President and CEO shared how the bank’s banking experience will be able to address gaps in Filipino financial services.
“Less than 3% of Filipinos have access to affordable credit, such as a credit card. Which means they are often paying 10-20% per month for their short-term borrowing needs. Less than 3% of Filipinos have access to insurance and less than 3% of Filipinos have access to high yield investments, such as stock and equities.”
“Every year millions of smart, employed Filipinos fall short of their potential because they do not have access to high-quality banking products. Through GoTyme Bank, we are here to unlock the financial potential of all Filipinos,” he added.
GoTyme Banking Perks
The new bank’s debit card allows you to make transactions 24/7 from local and international ATMs. Additionally, you can deposit and withdraw for free at Robinsons-affiliated retail outlets.
There are already 15 kiosks in select Robinsons supermarkets that are ready to serve. More locations are set to open in the following weeks. You can check the GoTyme website which will be updated to show all the locations.
“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. To keep the human connection always, GoTyme Bank will have kiosks that are strategically located across the Robinsons ecosystem. With our next-level customer service, these kiosks will always have a bank ambassador to guide you through the process. Using kiosks, we aim to solve access and extend reach. By deploying kiosks to Robinsons retail stores and malls, you can now create an account where you shop, eat and relax.”
Albert Tinio, GoTyme Bank Co-CEO and Chief Commercial Officer
Send, Shop, and Save with GoTyme Bank
With Go Send, you can easily and securely transfer funds from the GoTyme app. Meanwhile, the Go Shop feature allows you to have a better shopping experience. You earn three times Go Rewards with each swipe of your GoTyme debit card at partner Robinsons stores and one point if you shop anywhere else. These can be redeemed as cash via the mobile app.
The Go Save feature, on the other hand, will earn interest with no worries about promo durations or minimum balances. The bank also introduced “Save Your Change”, allowing you to save by rounding up to the nearest 10 or 100 pesos.
“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 provide our customers with better choices, creating shared success with our stakeholders.’ Together with our partner Tyme Group, we are all set to disrupt the industry and make GoTyme Bank the ‘better choice’ that will provide greater financial empowerment for Filipinos. At the heart of this meaningful breakthrough is our deep commitment to improve the lives of our fellowmen, and to ultimately help bring forth a more prosperous society.”
Lance Gokongwei, Head of the Gokongwei Group
Learn more about the new bank by visiting the official website here.
Ram found his love and appreciation for writing in 2015 having started in the gaming and esports sphere for GG Network. He would then transition to focus more on the world of tech which has also began his journey into learning more about this world. That said though, he still has the mentality of "as long as it works" for his personal gadgets.
