GoTyme Bank Adds a Human Touch to the Philippine Digital Banking Ecosystem 

The rapid digitalization of banking services addressed the pain points of the pandemic, but post-pandemic banking has produced its own pain points for consumers. Enter GoTyme, the Gokongwei Group’s answer to the challenges of completely digital platforms. Combining “high tech” with a “high touch” approach, GoTyme presents a “phygital” banking model for Filipinos, giving them all the advantages of digital banking while also providing the comforts of a physical experience. 

GoTyme, a partnership between the Gokongwei Group and the Tyme Group, adapts the innovations of South Africa’s popular TymeBank to the Filipino setting. Before the pandemic had even arrived, TymeBank was already exploring the phygital banking model. The digital retail bank set up kiosks around the nation where consumers could create an account and receive a debit card using one of the bank’s kiosks, all within minutes. And now, GoTyme is bringing that technology to the Philippines.

The GoTyme Kiosk

In under five minutes, GoTyme’s newly launched kiosks let Filipinos open a bank account, scan their valid IDs, enter their information, take an ID photo, and receive their personal debit card. It’s technology never before seen at such a scale in the Philippines. For Filipinos who balk at the idea of a banking service you can never see, meet, or feel, GoTyme’s physical kiosks find a perfect market in the Philippines. 

“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,” shared Albert Tinio, GoTyme Bank’s Co-CEO and Chief Commercial Officer. “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."

There are currently 15 GoTyme kiosks around the metro in Robinsons supermarkets, with 226 kiosks in total to be launched by the end of 2022. Approximately 700 GoTyme kiosks will be located in the country by the end of 2023. Meanwhile, the GoTyme Bank debit card can be used anywhere and at any ATM. 

Gokongwei Group Head Lance Gokongwei applying and receiving a GoTyme debut card live on stage

Next Level Perks

With its integration into the Gokongwei Group ecosystem, GoTyme is giving consumers exclusive access to high-quality perks, such as free deposits and withdrawals at Robinsons-affiliated outlets, three free fund transfers per week using GoTyme’s Go Send feature, and three times the Go Rewards points any time you swipe your GoTyme card at a partner Robinsons store using the Go Shop feature.

According to Head of Brand Marketing and Growth, Raymund Villanueva and Chief Product Officer, Daniel Stacey, the bank’s new Go Save feature also encourages consumers to be financially responsible as its “Save Your Change” feature lets users round up to the nearest 10 or 100 pesos and save that amount into a Go Save account. 

Unlocking Filipino Potential 

The goal of all of this is financial inclusion. That term has become a bit of a buzzword in the banking sector, with different banks presenting different spins but GoTyme is backing its words with physical kiosks, valuable perks, and industry-shaking tech. While digital banking is gaining momentum, the reality is that there are still millions of Filipinos who are unbanked or underbanked. 

“Less than 3 percent of Filipinos have access to affordable credit, such as a credit card. Which means they are often paying 10 to 20 percent per month for their short-term borrowing needs. Less than 3 percent of Filipinos have access to insurance and less than 3 percent of Filipinos have access to high yield investments, such as stock and equities,” said Nate Clarke, GoTyme Bank President and CEO. 

“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.”

GoTyme Bank President and CEO Nate Clarke

GoTyme’s phygital thrust could be a game-changer in the industry by democratizing—and simplifying—access to digital banks. 

“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,’” said Lance Gokongwei, President and CEO of JG Summit and head of the Gokongwei Group. “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.”

Get GoTyme now by visiting their website, Apple Store, or Google Play Store. 

Esquire Philippines is published by Summit Media, a company owned and managed by the Gokongwei family and the Gokongwei Group.