Joint Venture GOtyme Granted Digital Banking License by BSP

The joint venture GOtyme by Gokongwei Group, one of the biggest conglomerates in the Philippines, and the Singapore-headquartered digital banking group Tyme has secured the digital banking license from the Bangko Sentral ng Pilipinas (BSP).

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Reportedly, the joint venture is planned to launch in the second quarter of 2022. It integrates the trusted Gokongwei brand, reputation, and multi-industry operations with Tyme’s globally proven digital banking technology and hands-on experience to add an exciting new player to the Philippines’ banking community.

The newest digital banking player will provide secure and easy onboarding through both an app and digital kiosks conveniently located throughout the mall and retail footprint of the Gokongwei group.

“In South Africa, 3m of our 3.5m customers joined TymeBank through our digital kiosks deployed in retail environments. We believe the combination of this technology and the Gokongwei Group’s nationwide retail footprint provides GOtyme a clear path to rapid growth,” stated Nate Clarke, GOtyme’s co-CEO.