GoTyme Bank Launched in the Philippines! - Adobotech | Tech, Gadgets Served in Adobo Flavors

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GoTyme Bank Launched in the Philippines!

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GoTyme Bank

The Gokongwei Group, in partnership with the Singapore-based Tyme Group, launches GoTyme Bank, which aims to improve the banking experience. Its “Phygital” model ensures better access to basic and next-level banking services.

GoTyme Bank

GoTyme Bank blends high-tech and personalized services to bring more Filipinos closer to financial solutions. The "phygital" concept of GoTyme Bank, which blends physical touchpoints such as kiosks and bank ambassadors with safe digital transactions, would enable more Filipinos to reach their full financial potential.

Nate Clarke, president, and chief executive officer of GoTyme Bank, described how the bank's next-generation banking experience will address gaps in Filipino financial services. Less than 3% of Filipinos have access to credit at reasonable rates, such as a credit card. Therefore, they frequently pay between 10 and 20% per month for their short-term financing needs. Less than 3% of Filipinos have access to insurance, and less than 3% have access to high-yield assets such as stocks and equities.

GoTyme Bank

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

He notes that Filipinos have unmet financial needs. "Each year, millions of smart, employed Filipinos fail to reach their full potential because they lack access to high-quality banking products. Through GoTyme Bank, we want to liberate the financial potential of every Filipino.

Albert Tinio, Co-CEO and Chief Commercial Officer of GoTyme Bank, describes how customers would enjoy the simplicity of accessible touchpoints. "At GoTyme, we believed that moving digital did not necessitate sacrificing our personal touch. In fact, it became we became our call out to be both digital and physical, or "phygital" for short. To maintain the human connection at all times, GoTyme Bank will strategically place kiosks across the Robinsons ecosystem."

"With our superior level of customer care, these kiosks will always have a bank ambassador to assist you. Using kiosks, we intend to improve accessibility and expand reach. By installing kiosks at Robinsons retail stores and malls, you may now establish an account while shopping, dining, and lounging. "

The debit card issued by GoTyme Bank enables 24/7 access to local and international ATMs. For added convenience, deposits and withdrawals are also free at Robinsons-affiliated store outlets. There are currently 15 customer-service-ready kiosks in certain Robinsons supermarkets, and more are scheduled to come in the coming weeks. The GoTyme website will be continuously updated to include all Robinson's grocery and department store locations.

Send, Shop, and Save
With the GoTyme Bank debit cards, sending money, shopping and saving becomes 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.

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 into your Go Save accounts.

By using the extensive network of the Gokongwei Group, GoTyme Bank will be able to offer Filipinos greater access to high-quality financial products. The bank's digital kiosks are distributed throughout the retail and real estate footprint of the group, which is highly integrated into the daily lives of Filipinos. This democratizes the delivery of financial services to all Filipinos, regardless of age, income, or location.

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