GoTyme

Benise Balaoing

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/173450792793220240719-go-tyme-bank-HO-1.jpg" style="width:960px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left">A GoTyme card. Handout</span></span></span></div><p>MANILA -- Digital bank GoTyme said it now has 5 million customers.</p><p>In a statement, the lender said it hit the 5 million customer mark in just a little over two years since its launch in October 2022, making it one of the fastest-growing banks in the Philippines.</p><p>GoTyme said it is celebrating this milestone by bringing back its 5 percent annual savings rate from January 1 to February 26, 2025. The lender cut its rate to 4 percent per annum in <a href="https://www.abs-cbn.com/business/2024/2/22/digital-bank-gotyme-to-launch-atms-1158" rel="noopener noreferrer" target="_blank">March</a> as it aligned itself with Bangko Sentral policies and current economic conditions.</p><p>&quot;Looking ahead to 2025, we plan to further accelerate growth with the aim of making banking beautiful for over 9 million customers by the end of the year,” said GoTyme chief executive officer (CEO)Nate Clarke.</p><p>GoTyme co-CEO Albert Tinio said the company is now looking forward to offering loan products to its users.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/rYWnc75ZxHY?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>&quot;With the launch of our Buy Now, Pay Later (BNPL) product, we’re giving customers the flexibility to manage purchases in easy, low-fee installments,&quot; he said.</p><p>GoTyme hopes to break even by 2025 and be profitable by 2026, Clarke earlier said.</p><div><a href="https://www.abs-cbn.com/business/2024/7/18/gotyme-eyes-profitability-in-2026-1741" rel="noopener noreferrer" target="_blank">GoTyme eyes profitability in 2026</a></div><p>The bank’s shareholders have also recently acquired fintech salary lender SAVii, which offers a payroll-enabled suite of financial products to companies. One of the new offerings this year is the earned wage access (EWA) feature to employees of select companies – enabling employees to access their pay every day.</p><p>The bank has also allowed Filipinos to open an account using a foreign SIM so they can easily remittances back home.</p><div><a href="https://www.abs-cbn.com/business/2024/9/11/gotyme-taps-coin-deposit-machines-1616" rel="noopener noreferrer" target="_blank">GoTyme taps coin deposit machines</a></div>

GoTyme eyes credit products as it hits 5 million customer mark | ABS-CBN

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GoTyme eyes credit products as it hits 5 million customer mark

GoTyme eyes credit products as it hits 5 million customer mark

Benise Balaoing,

ABS-CBN News

Published Dec 18, 2024 03:53 PM PHT

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