1.

Title of the Journal/Case Study:

"GoTyme Philippines Enhances User Engagement and Retention"

2. Author(s) and Publication Details:

Kapfer, C. (2024, October 15). GoTyme Philippines enhances user engagement and
retention. The Asian Banker.
https://www.theasianbanker.com/updates-and-articles/gotyme-philippines-enhances-
user-engagement-and-retention

3. Type of Source:
- Business Magazine Article

4. Brief Summary (Abstract):

GoTyme Bank, one of the fastest-growing digital banks in the Philippines,

leverages a hybrid distribution strategy combining physical kiosks and digital channels
to drive user engagement and retention. With around 60% of customers onboarded
through over 500 kiosks in the Gokongwei Group’s retail network, the bank adds
approximately 250,000 new users monthly. Strategic moves, including the acquisition of
SAVii and integration of payroll services, have deepened its market reach and
enhanced customer value. GoTyme targets BPO payroll clients by simplifying account
setup through on-site kiosks, improving access and reducing onboarding friction. While
the bank’s core has been payments and everyday banking, it plans to scale into credit
by mid-2025. GoTyme’s physical model stands out globally for its market fit, operational
integration, and success in driving active usage, unlike similar efforts by banks in other
countries.

5. Background of the Startup/Business:

GoTyme Bank is a digital banking startup in the Philippines that has rapidly
gained traction as one of the country’s most innovative and accessible financial
institutions. Officially launched in October 2022, GoTyme is a joint venture between the
Gokongwei Group, one of the largest and most diversified conglomerates in the
Philippines, and Tyme Group, a Singapore-based digital banking group with
international experience in financial technology and digital banking solutions. GoTyme
was established to serve the needs of underbanked and digitally savvy Filipinos by
providing them with a secure, seamless, and accessible banking experience.

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 Some of the key industry leaders and creators are behind driving force of
GoTyme Bank. At the top is Nate Clarke, the President and Chief Executive Officer
(CEO), with decades of experience on his side, in financial services and digital banking
especially, from where he previously worked in South Africa where a similar hybrid
banking model was especially successful through the TymeBank. Clarke has been at
the forefront in adapting this model to the Philippine setting where she has been
emphasizing on user engagement, localized service delivery and financial inclusion.
Among them are members of the Gokongwei group’s leadership especially the ones
from Robinsons bank and JG Summit Holdings who give strategic direction and
essential infrastructure to enhance GoTyme’s operations. The partnership brings the
technology and digital banking experience of the Tyme Group and the large retail and
business network of the Gokongwei Group so as to perfectly lay the groundwork for the
bank’s growth and expansion.

GoTyme is based in the Philippines, exactly in Metro Manila with a network of

physical kiosks across the nation for onboarding in a strategic manner in the Gokongwei
Group’s retail outlets. Such include the popular supermarket chains such as Robinsons
Supermarket, Shopwise, The Marketplace and other Gokongwei affiliated Mall and
commercial complexes. The ease of access to these locations facilitates the account
opening process, availability of physical debit cards on an instant basis, and transacting
within minutes for the customers throughout the country. This model has been
especially successful in places where traditional banks do not have much coverage or
where digital literacy continues to be a challenge to individuals in accessing financial
services.

Established in 2021, with operations commencing in late 2022, GoTyme entered

the financial landscape as one of six digital banks granted licenses by the Bangko
Sentral ng Pilipinas (BSP). The bank was created in response to the growing demand
for accessible and user-friendly banking options that meet the needs of a younger,
mobile-first population, as well as underserved communities that traditional banks often
overlook. GoTyme's entry into the Philippine market was timely, as the COVID-19
pandemic had significantly accelerated the adoption of digital platforms, particularly in
financial services. The shift toward contactless payments, mobile banking, and digital
wallets presented a unique opportunity for GoTyme to offer a hybrid solution that
combines the convenience of technology with the personal touch of physical service
points.

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 GoTyme operates within the financial services and digital banking industry, a
sector experiencing rapid transformation across Southeast Asia. The Philippines, with
its large population of over 110 million people and a high percentage of unbanked or
underbanked citizens, represents a significant market for fintech innovation. According
to the BSP, as of 2022, only around 56% of Filipino adults had formal bank accounts,
highlighting the massive opportunity for digital banks to step in and offer inclusive
financial solutions. GoTyme is strategically positioned within this space, targeting
everyday Filipinos—particularly employees in the business process outsourcing (BPO)
industry, retail workers, and gig economy participants—who need reliable, fast, and
secure financial services.

What sets GoTyme apart from other players in the market is its hybrid distribution
model, which blends the strengths of digital innovation with physical presence. With
placing more than 500 digital kiosks in high-traffic areas such as supermarkets and
shopping malls, GoTyme has been able to onboard users at scale while also addressing
common challenges in account opening and verification processes. This approach
resonates well with Filipino consumers, many of whom prefer face-to-face interaction
and tangible confirmation of their banking activities, such as the immediate issuance of
debit cards at kiosks. The model was previously successful in South Africa through
TymeBank, and its adaptation to the Philippine market is a testament to the startup’s
commitment to cultural relevance and operational efficiency.

One of GoTyme’s most strategic moves has been its entry into payroll banking
through its collaboration with large BPO firms and its acquisition of SAVii, the leading
salary lending fintech in the Philippines. SAVii has a strong foothold in the payroll
segment, with over PHP 3 billion in loans disbursed and a client base that includes
more than 500,000 employees across 150 corporations. Through integrating SAVii’s
services with its platform, GoTyme has strengthened its ability to offer salary-linked
financial products such as loans, credit, and early wage access—products highly valued
by both employers and employees. Payroll banking is particularly important in the
Philippines, where direct deposit systems are often inefficient and where employees
experience delays in receiving salaries due to slow manual onboarding by traditional
banks. With the deployment of kiosks directly inside BPO offices, GoTyme has resolved
this pain point by enabling 24/7 account creation and instant access to salaries.

As of July 2024, GoTyme has amassed over 3.9 million fully verified customers
and manages total deposit balances of PHP 17 billion (approximately $320 million
USD). The bank adds approximately 250,000 new users every month and has

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consistently ranked among the top digital banks in consumer satisfaction, according to
the BankQuality Survey conducted by TABInsights. With a strategic focus on user
activation rather than mere account creation, GoTyme ensures that customers can
begin transaction immediately, which boosts engagement, reduces churn, and deepens
customer relationships.

Looking ahead, GoTyme plans to expand its offerings into unsecured credit
products by mid-2025 and eventually into investment services. This progression marks
an important shift in the bank’s strategy—from being primarily focused on payments and
everyday banking to becoming a full-service financial institution that meets the broader
financial needs of its users. However, GoTyme is also aware of the risks involved in
rapid credit expansion, especially given the increasing default rates among digital
banks. As such, the company emphasizes the need for responsible lending practices
and robust risk management systems to ensure sustainable growth.

GoTyme Bank represents a well-executed convergence of physical

infrastructure, digital innovation, and strategic partnerships. Founded through the
collaboration of the Gokongwei and Tyme Groups, it serves as a model for how digital
banks can succeed in emerging markets by understanding local needs and behaviors.
With strong leadership, a customer-first mindset, and a clear growth strategy, GoTyme
is poised to play a significant role in shaping the future of digital banking in the

Philippines.

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 List of figues 1.1 Picture of Founder

6. Problem or Opportunity Identified:

Limited access to resources and funding in the early stages of the business.

7. Business Model and Value Proposition:

1. Transaction and Interchange Fees

GoTyme Bank earns a significant portion of its revenue from transaction and
interchange fees—commissions generated whenever customers use their GoTyme
debit cards or digital wallets for purchases or services. Each time a customer swipes
their card or makes an online payment, GoTyme receives a small percentage from the
merchant’s acquiring bank. This model is common among banks and fintech
companies, but what makes it profitable for GoTyme is its large and growing base of
active users who are encouraged to transact frequently through a user-friendly
interface, real-time customer support, and instant card issuance. With a seamless app
experience and a fast onboarding process, GoTyme not only attracts users but ensures
they immediately engage with the banking services. What sets GoTyme apart is its
focus on user activation rather than just customer acquisition. Many digital banks can
boast about new signups, but a significant number of those accounts become inactive.
GoTyme combats this trend by designing an onboarding process that allows users to
transact within minutes of account creation. The bank provides a physical debit card
instantly through in-mall kiosks, a feature that helps bridge the psychological gap
between digital and traditional banking. This immediate ability to use the card for
purchases, withdrawals, or online shopping drives transaction volume, which in turn
increases the bank’s income from interchange fees. This method of customer
onboarding also reinforces trust and ease of use, encouraging repeat transactions.

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Additionally, GoTyme operates without traditional bank branches, reducing overhead
costs and making its transaction-driven model more efficient and scalable. With nearly 4
million depositors as of July 2024, and the number expected to surpass 5 million by the
end of the year, even small transaction fees accumulate into substantial revenue when
multiplied across millions of active users. This efficient revenue model is further
supported by the bank’s ability to keep customers engaged through payment rewards,
bill payment options, and mobile features—all driving consistent transactional behavior.
As more Filipinos embrace digital payments, GoTyme is well-positioned to capitalize on
everyday spending, all while offering convenience and ease to its customers.

2. Salary-Linked Loans and Credit Services

Another key source of revenue for GoTyme is its growing portfolio of salary-
linked loans and credit services, especially following its acquisition of SAVii, a fintech
salary lender. This strategic move enabled GoTyme to tap into the BPO workforce—one
of the largest and most financially active sectors in the Philippines. These salary-based
products allow GoTyme to offer credit with lower risk, since repayments can be directly
deducted from payroll. By integrating with HR and payroll systems, GoTyme creates a
frictionless lending environment for both employers and employees, eliminating the
need for collateral or long approval processes. The result is a scalable, low-risk loan
offering that brings in steady interest income for the bank.

The salary-linked model also addresses a critical gap in the market: access to
affordable and timely credit for employees. Traditional banks often have long approval
processes and rigid requirements, while informal lenders charge exorbitant interest
rates. GoTyme offers a competitive alternative that is digital, transparent, and backed by
the credibility of large corporate partnerships. With SAVii’s existing reach—over
500,000 employees across 150 corporations—GoTyme gains a significant foothold in
the salary disbursement and lending space. These services not only generate revenue
through interest, but they also help the bank deepen its relationships with users,
increasing retention and lifetime customer value.

Furthermore, this credit model supports GoTyme’s broader goal of financial

inclusion by providing lending options to people who are often underbanked or have no
prior credit history. GoTyme is preparing to expand these services in 2025, with
unsecured consumer loans and eventually investment products. While entering the
credit space cautiously but strategically, GoTyme positions itself to diversify its revenue
beyond transactions, while still adhering to sound risk management. As the digital bank

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collects more data on user behavior and repayment trends, it can refine its credit
offerings, manage default risk more effectively, and continue building a profitable credit
arm that complements its payment-led foundation.

3. Strategic Partnerships and Cross-Selling through Hybrid Distribution

A third and distinct driver of GoTyme’s revenue and competitive advantage is its
hybrid distribution strategy built through strategic partnerships, especially with the
Gokongwei Group. Through leveraging the retail giant’s existing infrastructure, 54 malls
and 300+ locations across the Philippines, GoTyme is able to place physical onboarding
kiosks in high-traffic retail spaces. These kiosks allow for immediate customer
onboarding, instant card issuance, and real-time account activation, all in under five
minutes. This partnership creates immense cost savings on customer acquisition, while
simultaneously providing a unique cross-selling opportunity within a trusted and familiar
retail ecosystem.

Unlike many digital banks that operate purely online and struggle to earn
consumer trust, GoTyme’s physical presence within major retail environments offers a
powerful brand association and face-to-face interaction. Customers feel more secure
opening accounts when they can speak with a kiosk ambassador and receive a physical
card instantly. The integration of banking with everyday retail experiences also
facilitates opportunities to promote exclusive deals, shopping rewards, and cashback
incentives—thereby encouraging frequent use of the GoTyme card in partner stores.
This results in more transactions, higher customer engagement, and increased
interchange revenue. It also sets the stage for upselling value-added services like
insurance, credit, or investment products. Additionally, this hybrid model enables
GoTyme to establish itself in both urban centers and emerging markets where
traditional banks have little to no physical presence. By extending financial services to
areas that were previously underserved, the bank not only meets a social need but also
unlocks new market segments. Its success in implementing a scalable hybrid model—
something that competitors like Tesco Bank or Westpac struggled to do—proves that
local market insight and strategic partnerships are key. The unique value GoTyme
offers lies in combining digital speed and accessibility with physical trust and customer
support, creating a well-rounded banking experience that drives both growth and
customer loyalty. This approach sets it apart in a crowded fintech market and ensures
diversified, sustainable revenue channels.

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8. Strategies Used:

Marketing Strategy

GoTyme Bank’s marketing strategy is built on accessibility, simplicity, and

customer empowerment. Unlike traditional banks that rely on intimidating branches and
complex paperwork, GoTyme positions itself as a friendly, fast, and tech-driven financial
partner. Its standout tactic is the use of in-store kiosks inside Robinsons malls and
supermarkets, a strategy made possible through its partnership with the Gokongwei
Group. These kiosks serve as both a branding tool and an onboarding solution, allowing
customers to open an account and receive a physical debit card in under five minutes.
Through being visible in high-foot-traffic retail environments, GoTyme creates direct
engagement opportunities that drive brand trust and user adoption.

The bank also capitalizes on digital channels, using social media, influencer
collaborations, and mobile advertising to promote its features—especially zero-fee
transactions, real-time customer service, and its rewards system. It appeals strongly to
younger, tech-savvy users and the unbanked population, highlighting ease of use and
financial inclusivity. Educational campaigns are integrated into marketing to demystify
banking concepts and show how GoTyme enables smart money management. More
recently, GoTyme has expanded into financial wellness content, providing tips and tools
to help users manage spending, save effectively, and build credit, thereby positioning
the bank not just as a service provider but as a financial partner.

Financing and Funding

Aspect Details

Funding Type Corporate-backed funding

Primary Investors - Gokongwei Group (JG Summit

Holdings)
- Tyme (Digital banking group from South
Africa)
Initial Capitalization
Funded jointly by Gokongwei Group and
Tyme as part of the BSP’s digital banking
license program
Key Investment Purpose
- Build core banking infrastructure
- Deploy onboarding kiosks
- Hire key personnel
- Launch marketing campaigns

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Recent Financial Move Acquired SAVii, the Philippines’ largest
salary lender fintech, in May 2024

Venture Capital Involvement

None reported; the company is primarily
financed through strategic corporate
investment
Investor Strategy
Long-term strategic investment focusing
on digital financial inclusion and customer
growth
Use of Funds

- Expand customer base through kiosks

- Improve tech stack
- Develop financial products

Operations and Supply Chain

GoTyme’s operations are lean, digitized, and strategically integrated into the
existing logistics and retail network of the Gokongwei Group. The bank operates without
physical branches, using self-service kiosks in retail stores and a cloud-based back-end
infrastructure to keep costs low and scalability high. Its customer service is fully digital,
with live agents available through the app, reducing the need for costly call centers or
branch tellers. This makes operations agile and highly responsive to growth and
customer demands. On the physical side, the kiosks—which are the cornerstone of its
physical distribution—are managed using existing Robinsons retail personnel and
infrastructure, streamlining supply chain costs. Cards are printed and activated on-site,
minimizing logistics delays and removing the need for centralized card delivery services.
Even promotional materials, merchandise, and onboarding tools are distributed through
in-mall operations. GoTyme also partners with local logistics providers for customer
services like card replacement and compliance documents, ensuring smooth, last-mile
operations across urban and provincial locations. This blend of digital agility and
physical convenience is a core part of GoTyme’s operating success.

Technology and Innovation

Technology is the backbone of GoTyme Bank’s value proposition. The bank

operates on Tyme’s proven digital core banking infrastructure, which was originally
developed and scaled in South Africa. This platform supports real-time account
creation, secure identity verification (KYC), biometric data capture, instant card
issuance, and automated compliance—features that enable GoTyme to operate
efficiently in a highly regulated financial market like the Philippines. The mobile app

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integrates all these tools seamlessly, providing a frictionless user experience that rivals
global neobanks.

What makes GoTyme truly innovative is its hybrid approach—merging the

physical presence of kiosks with fully digital banking operations. This hybrid model is
unique in Southeast Asia and provides a powerful competitive edge. Additionally,
GoTyme is investing in data-driven personalization, using AI and behavioral insights to
tailor product offerings, financial advice, and credit eligibility. It is also developing
modular services, which means customers will eventually be able to choose their own
mix of products—savings, credit, insurance, and investment—all within one app. As part
of its roadmap, GoTyme is exploring blockchain-based security protocols, scalable
cloud deployment, and potential AI-powered financial coaching, aiming to make
personal finance smarter and more human.

9. Challenges Faced:
GoTyme Bank, despite its strong backing and ambitious vision, encountered
several challenges during its journey to establish itself in the Philippine digital banking
market. One of the primary issues was the difficulty in customer acquisition during the
initial phases. While digital banking has grown significantly in the Philippines, many
consumers were still wary of fully adopting online banking due to concerns over
security, digital literacy, and the lack of traditional banking infrastructure. This resulted in
slower-than-expected customer uptake, which is critical for a startup relying on scale to
drive profitability. Additionally, the lack of physical branches proved to be both a
strength and a weakness. On one hand, GoTyme Bank’s approach of focusing on
digital-first services offered a lower operational cost compared to traditional banks.
However, on the other hand, it also limited their ability to reach a certain demographic,
particularly older or less tech-savvy individuals who prefer face-to-face interaction. This
gap in customer engagement contributed to the difficulty in convincing the mass market
of the convenience and security offered by GoTyme’s online banking solutions. Another
notable challenge was the intense competition in the digital banking sector. Established
players in the industry, including banks like BDO Unibank and Metrobank, quickly
adapted to the digital wave by improving their online offerings. This created a highly
competitive landscape, making it harder for a newcomer like GoTyme to differentiate
itself despite the strong corporate support it had. Lastly, GoTyme Bank had to grapple
with regulatory hurdles. The Philippine government’s regulatory framework for digital
banking, though progressive, required time and adaptation for new digital players to
comply with compliance standards set by the Bangko Sentral ng Pilipinas (BSP). This
added an additional layer of complexity, delaying certain planned services and limiting
growth potential in the early stages.

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10. Solutions and Adaptations:

1. Enhancing Customer Education and Trust

To address the initial challenge of slow customer adoption, GoTyme Bank

invested significantly in customer education and trust-building efforts. Recognizing that
many Filipinos were still hesitant to embrace digital banking, especially given concerns
over security and a lack of understanding of online financial products, GoTyme ramped
up its marketing and communication strategies. The bank used a mix of online and
offline platforms to educate customers about the security features, ease of use, and
advantages of digital banking. Additionally, partnerships with influencers and public
figures were formed to promote GoTyme’s services and offer reassurance about the
safety of transactions. This comprehensive approach helped to break down barriers and
increase customer engagement.

2. Expanding Accessibility through User-Friendly Platforms

● GoTyme introduced an intuitive mobile application that made digital banking

more accessible, particularly to users who were less familiar with complex digital
platforms.
● They implemented a 24/7 customer support system, including chatbots and live
agents, to ensure users could easily navigate the app and resolve any issues
they encountered.
● The app was designed to be lightweight and fast, making it accessible even for
individuals with low-end smartphones or limited internet connectivity. This
expansion of accessibility improved the bank's adoption rate across different
customer segments.

3. Strategic Partnerships and Product Diversification

● To overcome the intense competition from established players, GoTyme Bank

formed strategic partnerships with well-known retail brands, such as SM Group,
to enhance its service offerings and build a loyal customer base.
● GoTyme also diversified its product portfolio, offering a range of products beyond
basic digital banking, such as savings accounts, personal loans, and cash
management solutions. These products were designed with customer
convenience in mind and tailored to the needs of both individual and business
clients.
● They expanded into payment services and e-wallet integrations, making it easier
for customers to link their GoTyme accounts to online payment platforms and
merchant services, further broadening their reach.

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11. Outcomes and Results:

GoTyme Bank has been successful in its journey to establish itself as a key
player in the digital banking landscape of the Philippines. The startup’s success can be
attributed to its rapid growth, strategic milestones, and recognition in the banking and
fintech sectors. Since its official launch in 2022, GoTyme Bank has made notable
strides in acquiring customers and securing investor backing. A significant milestone in
the bank's journey was its partnership with the Tyme Group and the SM Group, two of
the Philippines' largest conglomerates. This partnership not only gave GoTyme a strong
financial backing but also facilitated the bank’s expansion through an established
network of retail branches and a solid customer base, both of which were crucial to the
success of its digital banking services.

One of the most telling indicators of GoTyme Bank’s success has been its rapid
customer acquisition. In the first year of operation, GoTyme managed to attract over 1
million customers, which was a significant achievement given the competitive landscape
of the Philippine banking industry. This growth was fueled by the bank’s user-friendly
app, which provided customers with easy access to digital financial services such as
savings accounts, personal loans, and bill payments, all of which were integrated
seamlessly into the digital platform. The number of customers continued to climb
throughout the year, reflecting the growing trust in the bank’s digital solutions.

In terms of revenue generation, GoTyme Bank’s performance is noteworthy.

Although specific revenue figures for the first year of operation have not been disclosed,
industry experts and financial analysts have pointed out that GoTyme’s revenue model,
which is largely driven by transaction fees, lending interest, and partner collaborations,
is well-positioned for scalability. The ability to offer services like cash management
solutions and savings accounts with competitive interest rates has helped the bank tap
into both the mass market and SMEs (small and medium enterprises), leading to
increased engagement and revenue streams.

The bank's focus on innovation and financial inclusion has also garnered
recognition in the industry. GoTyme Bank was acknowledged for its customer-centric
approach and its ability to simplify digital banking for a wide demographic, including the
underserved and unbanked populations. The integration of advanced security features,
such as biometric authentication and end-to-end encryption, helped the bank earn the
trust of its users and mitigate security concerns that often hinder digital banking
adoption in emerging markets.

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 GoTyme has also received awards and accolades from fintech organizations,
recognizing its innovative approach to transforming the digital banking landscape in the
Philippines. The success of its mobile app platform was celebrated in various tech and
financial services forums, further establishing GoTyme as a leader in the space.
Furthermore, GoTyme’s ability to navigate the challenges posed by the COVID-19
pandemic, which led to increased demand for digital services, gave the startup an edge
over traditional banks in terms of customer acquisition and operational growth.

12. Lessons Learned:

For entrepreneurs, the story of GoTyme Bank offers several key takeaways that
are essential for success in the rapidly evolving digital landscape. First and foremost,
the importance of strong partnerships cannot be overstated; GoTyme’s collaboration
with the Tyme Group and SM Group played a crucial role in its initial growth and market
penetration. Entrepreneurs should seek strategic alliances that complement their
strengths and provide access to established customer networks and financial backing.
Another significant insight is the value of understanding customer needs—GoTyme’s
focus on providing accessible and user-friendly digital banking services catered to a
wide range of customers, including underserved communities, helped it gain trust and
loyalty in a competitive market. With focusing on innovation and developing products
that genuinely address consumer pain points, entrepreneurs can carve out a unique
niche. Additionally, the emphasis on security and trust was paramount for GoTyme’s
success; ensuring that digital services are safe and secure builds credibility and fosters
long-term customer retention. Moreover, adaptability and resilience in the face of
challenges such as the COVID-19 pandemic are vital for any startup. GoTyme’s ability
to thrive amidst economic disruptions highlights the need for businesses to remain agile
and responsive to changing market conditions. Lastly, entrepreneurs should be mindful
of the importance of scaling—GoTyme’s rapid customer acquisition and the ability to
expand its offerings demonstrate the potential for startups to scale quickly when they
focus on efficient digital solutions and strategic growth. Through applying these insights,
entrepreneurs can navigate challenges and leverage opportunities to build a successful,
sustainable business in today’s fast-paced market.

13. Personal Reflection:

What really surprised me about GoTyme Bank was how quickly it adapted to the
changing needs of the market. It was amazing to see how a digital bank, in such a

13
competitive field, managed to make banking accessible for everyone, especially people
who were not being served well by traditional banks. I was inspired by how they
understood the importance of offering a simple, user-friendly platform that anyone could
use. It wasn’t just about offering a service—it was about making sure that service was
easy and safe, and they did a great job of that. For example, they introduced a feature
where customers could open a bank account using just their mobile phone, without
needing to visit a physical branch. This made banking more inclusive, especially for
those in remote areas.

A personal experience I had with GoTyme Bank really showed me how their
services could solve real problems. There was a time when I needed to transfer money
urgently to a relative overseas. I didn’t have time to visit a traditional bank, and the
usual online banking services I was used to were complicated and slow. When I found
GoTyme Bank, I was amazed at how fast and easy it was to transfer money using just
my phone. The app was intuitive, and within minutes, I was able to complete the
transaction safely and efficiently. This was such a relief because I was able to help my
relatives when they needed it the most, without any hassle.

Another thing that surprised me was their partnership with the SM Group. When
a startup can collaborate with a large, established company like that, it really shows how
powerful strategic partnerships can be. This collaboration gave GoTyme Bank credibility
and access to a broad customer base, which helped them grow much faster than they
would have on their own. They didn’t try to do everything by themselves; they built a
solid network, and that made a huge difference in their success. For instance, through
the partnership with SM, GoTyme Bank was able to integrate with a wide range of retail
platforms, allowing users to easily perform transactions, like buying goods or paying
bills, directly through the bank’s app.

Also, I was impressed by how GoTyme Bank managed to stay flexible and adapt,
especially during the COVID-19 pandemic. Most businesses faced major setbacks
during that time, but GoTyme found a way to use the situation to their advantage by
focusing even more on their online and mobile services. They didn’t let the challenges
stop them; they used them as an opportunity to grow and improve. This ability to stay
focused and flexible is something that stood out to me and showed how important it is to
keep adjusting to the world around you. For example, during the lockdowns, GoTyme
Bank saw a surge in app downloads as more people turned to online banking, and they
quickly rolled out new features to improve the customer experience, such as virtual
debit cards for online shopping.

Looking at all these things, I would definitely consider using GoTyme Bank’s
model in my own entrepreneurial journey. I think their focus on customer needs, building

14
strong partnerships, and staying adaptable is something every startup can learn from.
They proved that by offering something new and solving real problems, it’s possible to
succeed even in tough markets. If I ever start my own business, I would try to apply
some of these principles: offering something simple, working with the right partners, and
staying flexible no matter what happens.

14. References:

Agcaoili, L. (2023, October 8). As AI flourishes, GoTyme Bank vows human touch in
client transactions. Philstar.com.
https://www.philstar.com/business/2023/10/08/2301946/ai-flourishes-gotyme-bank-
vows-human-touch-client-transactions

BusinessMirror. (2024, October 15). GoTyme Bank and PNP ACG team up to pursue
cybercriminals. https://businessmirror.com.ph/2024/10/15/gotyme-bank-and-pnp-acg-
team-up-to-pursue-cybercriminals/

BusinessWorld Online. (2024, December 12). GoTyme Bank reaches 5.1 million
customers, P24 billion in deposits.
https://www.bworldonline.com/banking-finance/2024/12/12/640993/gotyme-bank-
reaches-5-1-million-customers-p24-billion-in-deposits/

BusinessWorld Online. (2024, February 27). GoTyme Bank targets to expand customer
base to 5 million this year.
https://www.bworldonline.com/banking-finance/2024/02/27/577930/gotyme-bank-
targets-to-expand-customer-base-to-5-million-this-year/

BusinessWorld Online. (2024, October 3). GoTyme Bank deposits hit P19 billion.
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Cabuag, V. G. (2024, March 22). BPI unloads GoTyme Bank shares. BusinessMirror.
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Campos, O. V. (2023, August 26). GoTyme Bank targets 5 million clients in 2024.
Manila Standard. https://manilastandard.net/news/314364662/gotyme-bank-targets-5-
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Gonzales, A. L. (2024, September 26). PSA, GoTyme Bank ink deal to promote
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JG Summit Holdings, Inc. (n.d.). GoTyme Bank. https://www.jgsummit.com.ph/our-
company/business-units/go-tyme-bank

Manila Standard Business. (2024, May 11). GoTyme Bank acquires top salary lender to
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