#ItsGoTyme as the Gokongwei Group partners with the Singapore-based Tyme Group to launch financial solutions that are designed to offer Filipinos a high-quality banking experience.
GoTyme Bank takes a high-tech combined with a high-touch approach to bring financial solutions closer to more Filipinos. With its “phygital” model, which combines physical touchpoints such as kiosks and bank ambassadors with secure digital transactions, GoTyme Bank is here to help more Filipinos reach their full financial potential.
Unlocking Potential
The last 10 years have seen a major acceleration in fintech with digital banks and e-wallets, with the adoption of digital payments further sped up by the pandemic. While many Filipinos have become comfortable with access to fintech through basic accounts and cashless payments, there are still many financial solutions in the digital space that remain untapped in the local market.
At the launch held on October 20, 2022, Nate Clarke, GoTyme Bank President and CEO, shared how GoTyme Bank’s next-level 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.”
He notes that Filipinos have unmet financial needs. “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.”
High-Quality Perks
Albert Tinio, GoTyme Bank’s Co-CEO and Chief Commercial Officer, shared how customers will enjoy the convenience of having accessible touchpoints. “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."
The GoTyme Bank debit card allows customers 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 at select Robinsons supermarkets that are ready to serve clients, with more locations set to open in the coming weeks. The GoTyme website will be constantly updated to show available locations at Robinsons supermarkets and department stores.
Send, Shop, and Save
Raymund Villanueva, GoTyme Bank’s Head of Brand Marketing and Growth, and Daniel Stacey, Chief Product Officer, then shared the value propositions of having a GoTyme Bank account. Sending money, shopping, and saving become more convenient with the GoTyme Bank debit card, as this can be used for both online and in-store transactions here and abroad.
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 at partner Robinsons stores, a customer earns three times the regular amount of Go Rewards points, making it one of the better modes of payment across the Gokongwei Group. These points can also be redeemed in cash, straight from their mobile apps.
With Go Save, one will earn interest with no worries on 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 10 or 100 pesos and putting that amount automatically into their Go Save accounts.
The Better Choice
Lance Y. Gokongwei, who heads the Gokongwei Group, shared how GoTyme Bank aligns with their vision for the Philippines. “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.”
By leveraging the Gokongwei Group’s extensive ecosystem, GoTyme Bank will be able to provide Filipinos with greater access to high quality banking products. The bank’s digital kiosks are deployed across the group’s retail and real estate footprint, which is highly integrated into the daily lives of Filipinos. This democratizes the delivery of financial services to address the needs of all Filipinos regardless of age, income, or geography.
For more information on GoTyme Bank, visit gotyme.com.ph
