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Manila Bulletin devider Technews devider GoTyme Bank tops charts as Philippines' fastest-growing bank

GoTyme Bank tops charts as Philippines' fastest-growing bank

Published Jul 25, 2024 06:04 am
GoTyme New Products JUL 2024.jpg

GoTyme Bank has solidified its position as the fastest-growing bank in the Philippines, boasting an impressive 250,000 new customers monthly and a staggering 600% year-on-year increase in transactions. The bank’s remarkable success can be attributed to its unwavering focus on delivering exceptional customer experiences.

A joint venture between the Gokongwei Group and Tyme Group, GoTyme Bank has witnessed exponential growth since its launch in November 2022. Within just nine (09) months, the bank surpassed one million customers and doubled that figure four months later. The momentum has continued into 2024, with an additional 1.7 million customers joining the platform in the first half of the year.

GoTyme Bank’s customer adoption rate is equally impressive. It currently ranks among the top five banks in terms of monthly active app users and Instapay transactions, holds the second spot in Visa debit transactions, and claims the top position in monthly app downloads. Moreover, the bank’s deposits have surged to over 17 billion pesos, a testament to Filipinos’ trust and confidence in its offerings.

The bank’s growth strategy revolves around a seamless blend of digital and physical touchpoints. To enhance customer accessibility, GoTyme Bank plans to add 100 more kiosk locations and expand its ATM network by the end of the year.

GoTyme Bank’s commitment to delivering exceptional customer experiences has been recognized with top honors. The bank secured the #1 spot in customer experience in two independent studies. A Forrester study conducted in May 2024 revealed a Net Promoter Score (NPS) of 76 for GoTyme Bank, surpassing the nearest competitor by a significant 15 points. In addition, the Singapore Economic Development Board (EDB) ranked GoTyme Bank as the top performer in both NPS and Customer Experience (CX) ratings among all banks and e-wallets.

To further solidify its leadership position, GoTyme Bank is introducing a range of innovative products and services that prioritize simplicity and convenience.

“At GoTyme Bank, we don’t settle for things that merely work; we strive to create products and offer services that work beautifully. From the moment you sign up, to managing your finances, to interacting with our customer service team, GoTyme Bank ensures that your experience is not just efficient but also beautiful,” according to Raymund Villaneuva, Chief Marketing Officer of GoTyme Bank, emphasizing their aim to create products and services that not only work efficiently but also provide a delightful user experience.

New offerings include International Accounts, allowing Filipinos abroad to open and manage accounts seamlessly; Mobile Check Deposit for convenient and secure check deposits; Pay With Points, enabling customers to use GoRewards points for purchases; and Coin Deposit Machines, providing a hassle-free way to deposit coins directly into GoTyme Bank accounts.

“In the coming months, we hope you all enjoy our new, beautiful, products and features but even more so we hope you invite your friends and family to join you in the switch to beautiful banking,” said Nate Clarke, GoTyme Bank CEO as he extended an invitation to join the fastest-growing bank in the country, highlighting the bank’s commitment to delivering beautiful banking experiences.

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