GoTyme Bank receives BSP approval to offer digital banking services in PH

(Press Release)

The Bangko Sentral ng Pilipinas (BSP) has awarded a Certificate of Authority to new lender GoTyme Bank. The authorization, which was handed on July 29, 2022, allows GoTyme Bank to operate as a digital bank in the country.

BSP has already reviewed GoTyme Bank’s processes and infrastructure and deemed them compliant with all of BSP’s regulations including the Bank Secrecy Act, Anti-Money Laundering Act, Customers Protection Act, Data Protection Act, and a robust IT Risk Management Framework.

The issuance of a COA is the third and final stage involved in establishing a digital bank in the country. The other two stages are filing an application for the Authority to Establish a Digital Bank with the Monetary Board (MB) and the Issuance of the Authority to Register with the Securities and Exchange Commission.

GoTyme Bank is set to revolutionize digital banking services in the Philippines with safe and secure transactions as certified by the BSP. With a high-tech-high touch approach, GoTyme Bank clients can open an account in less than five minutes through digital kiosks and avail of banking products and services such as better bank transfers, shopping rewards, interest savings, trading, investing, and customer service.

GoTyme Bank is a joint venture of Tyme, a multi-country digital banking group, with members of the Gokongwei Group of companies, namely Robinsons Bank, Robinsons Land Corporation, and Robinsons Retail Holdings, Inc. GoTyme Bank aims to unlock its customers’ financial potential with the convenience and security of digital banking. With a high-tech-high touch approach, GoTyme Bank combines the ease of immediate account opening with a personalized debit card released through kiosks located in shopping malls throughout the Philippines, plus the power of self-serve financial solutions accessible through an intuitive ‘all-in-one’ banking app. These, along with other industry-leading offerings, set GoTyme Bank on track to revolutionize banking in the Philippines.

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