Less than a year after its inception, GoTyme Bank, a joint venture between the Gokongwei business and Singapore’s multi-country digital banking business Tyme, reported it has hit its one millionth customer milestone earlier this month.
The digital bank, which was soft-launched in the Philippines in October 2022, attributes this remarkable achievement to its distinctive and ground-breaking approach to banking, which combines the comfort of the human touch with the ease of technology.
GoTyme Bank invests in human-focused service to address one of the most frequent banking annoyances for customers — speaking to bots.
GoTyme President and CEO Nate Clarke credited the Gokongwei brand’s excellent reputation and customer loyalty for the bank’s performance, particularly with regard to the quick onboarding of consumers.
“The confidence of the Gokongwei Group is the second factor influencing our performance today. The Gokongwei Group and the Gokongwei name are boosting consumer adoption on our side,” he claimed.
“I think if you strip away all of the apps and the branches and everything else from banking in general, it’s going to be a trust game,” he added.
Clarke also emphasized their human-centric “phygital” strategy for digital banking, which, according to him, strives to offer a preferred banking experience to a larger customer base outside of the top 5% of the country.
Providing effective services in the age of AI
In order to provide services to a larger network in the age of artificial intelligence (AI), and to be more effective, several organizations have since chosen to reduce person-to-person interactions.
For its part, GoTyme Bank has built a system that successfully harnesses the power of human connections and integrates them with digital know-how — thus, earning its first 1 million subscribers for the bank in an unmatched way.
At GoTyme Bank, customers can open an account via the GoTyme app or at any of the company’s more than 350 kiosks located throughout the country. There, friendly Bank Ambassadors help customers open an account and receive a free Visa debit card in less than five minutes.
Customers can likewise contact GoTyme Bank’s personal bankers at any time by dialing #GO8888, or by sending a message through the the GoTyme app’s in-app chat feature.
GoTyme Bank currently has over 1300 branches nationwide that are open seven days a week, making it simple to deposit and withdraw money for free. According to Clarke, this has contributed to the bank’s rapid growth in terms of customer base.
The bank’s presence at Robinsons Supermarket, Robinsons Easymart, The Marketplace, Robinsons Department Stores, Shopwise, South Star Drug, and Uncle John’s has grown by 236 percent since December 2022.