GoTyme Bank, a joint venture between the Gokongwei Group and Singapore-based multi-country digital banking group Tyme, recently reached its one-millionth customer mark only 10 months after launching in the Philippines. The bank credits this milestone to its unique and groundbreaking approach to banking, which combines the convenience of digital with the warmth of the human touch.
GoTyme Bank addresses one of the most common banking frustrations of customers—talking to bots—by investing in human-focused service. In this age of artificial intelligence, many institutions have opted to minimize person-to-person interactions in an effort to be more efficient and serve a wider network. GoTyme Bank, however, has successfully harnessed the power of human connections and integrated that with digital expertise, building a system that has earned the bank its first 1 million users in an unparalleled fashion.
Customers have the option of opening a GoTyme Bank account via the GoTyme app or at any of its 350+ kiosks nationwide, where they will be assisted by smiling Bank Ambassadors in setting up their account and getting a free Visa debit card in under five minutes. Moreover, users can reach to GoTyme Bank’s personal bankers 24/7 with any question or concern by calling #GO8888 or by messaging them through GoTyme Bank’s in-app chat.
The speedy rise of GoTyme Bank’s customer base can also be attributed to how easy it is to deposit and withdraw funds for free at over 1300 GoTyme Bank locations nationwide, open 7 days a week. Since December 2022, the bank has increased its locations by 236% at Robinsons Supermarket, Robinsons Easymart, The Marketplace, Robinsons Department Stores, Shopwise, South Star Drug, and Uncle John’s.
Preferred Banking for 1 Million Users
At the heart of GoTyme Bank’s successful phygital model is preferred banking for everyone, a battle cry that makes every user a VIP. Customers don’t need to wait hours to fill out forms, wait weeks for a debit card, or talk to chatbots for any transaction. They get 5% interest rates on their savings accounts—the highest base savings rate in the country. No missions, no limits, no complicated conditions. Just simple and sustainable savings. Moreover, GoTyme Bank is regulated by the BSP and all deposits are insured, giving customers not just preferred banking, but also peace of mind.
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.
Albert Tinio, co-CEO of GoTyme Bank, says, “So many exciting things are in the pipeline for our 1 million customers and beyond. 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.”
Nate Clarke, CEO of GoTyme Bank, adds, “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.”