#FinancePH - GoTyme Bank is Here To Bring Better Financial Solutions for Filipinos

#itsGoTyme as the Gokongwei Group collaborates with the Tyme Group, a Singapore-based company, to introduce financial solutions created to give Filipinos a top-notch banking experience. GoTyme Bank uses both high-tech and high-touch methods to make financial solutions more accessible to more Filipinos. More Filipinos will be able to achieve their financial goals thanks to the GoTyme Bank "phygital" concept, which blends safe digital transactions with physical touchpoints like kiosks and bank ambassadors.

L to R - Daniel Stacey, Lion Gacad, Raymund Villanueva, Nate Clarke, Lance Gokongwei, Robina Gokongwei-Pe, Jojo Malolos, Albert Tinio, Howard Go, Chris Bennett 2

With the rise of digital banks and e-wallets during the past ten years, as well as the pandemic, the acceptance of digital payments has quickened. Although many Filipinos are already accustomed to using basic accounts and cashless transactions to access financial technology, many financial solutions in the digital sphere are still underutilized.

Unlocking Potential

During the launch held last October 20 in Makati City, 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.”

Nate Clarke, President & CEO of GoTyme Bank

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

The co-CEO and chief commercial officer of GoTyme Bank, Albert Tinio, discusses how clients would appreciate the convenience of having reachable touchpoints. "At GoTyme, we believed that embracing technology did not require sacrificing our human touch. In fact, being both digital and physical at once, or "phygital," became our call to action. GoTyme Bank will have kiosks that are placed in key locations all over the Robinsons ecosystem to maintain the human connection at all times. These kiosks will always have a bank ambassador to walk you through the procedure thanks to our superior customer service. We hope to improve access and increase reach by using kiosks. You can now set up an account where you shop, eat, and unwind thanks to the kiosk deployment at Robinsons malls and retail outlets."

Albert Tinio, co-CEO of GoTyme Bank

You can use the GoTyme Bank debit card to make purchases from domestic and international ATMs around-the-clock. At retail establishments connected to Robinsons, one may also deposit and withdraw money without paying a fee. With more sites scheduled to open in the upcoming weeks, there are now 15 kiosks at a few Robinsons supermarkets that are prepared to serve customers. The locations of all Robinsons supermarkets and department stores will be regularly updated on the GoTyme website.

3S : Send, Shop, and Save

GoTyme Bank’s Head of Brand Marketing and Growth, Raymund Villanueva and Chief Product Officer, Daniel Stacey shared the value propositions one can expect with a GoTyme Bank account. With the GoTyme Bank debit cards, sending money, shopping and saving become more convenient 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.

Daniel Stacey, Chief Product Officer of GoTyme Bank

The Go Shop feature gives customers a better shopping experience. With each swipe of their GoTyme debit card, a customer earns 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, one will earn interest with no worries on promo durations, minimum balances or maximum caps. GoTyme Bank also introduced “Save Your Change”, which allows you to save by rounding up to the nearest 10 or 100 pesos and putting that amount automatically in to your Go Save accounts.

The better choice

Lance Gokongwei, who heads the Gokongwei Group, shares 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.” 

Lance Gokongwei, Prsident & CEO of JG Summit Holdings Inc.

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.

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