Newly launched Filipino bank GoTyme Bank has partnered with global cloud banking platform Mambu to deliver an innovative digital banking solution that is aiming to improve access to high-quality financial services for Filipinos.
Singapore-based Tyme Group, which has partnered with Gokongwei Group to launch GoTyme Bank in the Philippines, has had a long-standing relationship with Mambu, with the organizations working together for many years in South Africa, where Mambu powered South Africa’s TymeBank to transition into a fully-fledged digital bank.
In a similar approach to TymeBank in South Africa, GoTyme Bank in the Philippines offers next-level digital banking services via kiosks set up in retail outlets belonging to Robinsons Retail Holdings under the Gokongwei Group. GoTyme Bank will have 500+ kiosks in operation by the end of 2023. These GoTyme Bank kiosks, which will be opened right across the country, will enable access to secure, convenient and high-quality financial services to the millions of Filipinos who are currently excluded from the formal banking system.
Products and services on offer to customers via GoTyme Bank at launch include a free Visa debit card for in-person and online purchases, bank transfers via the mobile app and a valuable rewards program, Go Rewards, via partner Robinsons. Enabling digital transactions is of particular importance to Filipino customers, with the Philippines identified as one of the world’s leaders in the digitization of financial services. This increase in digital transactions has been driven both by the pandemic and by Bangko Sentral ng Pilipinas (BSP)’s commitment to reaching 50% of total transactions being digital by 2023. GoTyme Bank will roll out a number of innovative new products and services through the banking app in the coming months.