Barely into its second year, GoTyme Bank is the fastest-growing bank in the country both by customer and transactional growth –with over 250,000 new customers a month and 600 percent year-on-year growth in monthly transactions.
A collaboration between the Gokongwei Group and Tyme Group, GoTyme Bank has demonstrated remarkable growth since its operational launch in November 2022.
Only nine months after its launch, GoTyme Bank reached its first one million customers, and four months later doubled that number to finish 2023 with over 2 million customers.
This growth has further accelerated in 2024 with GoTyme Bank adding 1.7m customers in the first half of the year.
“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,” GoTyme Bank’s Chief Marketing Officer, Raymund Villaneuva, said.
“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,” GoTyme Bank CEO, Nate Clarke, said.
The Gokongwei Group is a major conglomerate in the Philippines with interests in airlines, retail, food manufacturing, petrochemicals, and real estate. Tyme Group is a multi-country digital bank based in Singapore, known for pioneering the world’s first mobile kiosk that enables account opening and printing of a Visa debit card in under five minutes.
Possibly more impressive than customer growth has been the growth in customer adoption.
Less than two years after launch, GoTyme Bank now ranks 5th amongst all banks in monthly active app users, 5th in Instapay transactions, second in visa debit transactions, and the leader in monthly app downloads.
In addition, GoTyme Bank’s deposits have surged to over 17 billion pesos, signaling the trust and confidence that Filipinos have in its ability to deliver quality products and services. By every industry measure, it is now the fastest-growing bank in the Philippines in terms of app downloads, active app customer growth, and Instapay and Visa transactions.
With its mix of digital and physical touchpoints remaining as a core pillar of its growth, GoTyme Bank foresees adding another 100 kiosk locations by the end of the year as well as more GoTyme ATMs, giving consumers more options for signing up and transacting with GoTyme.
GoTyme Bank attributes its rapid growth to an obsession with delivering the best customer experience to its customers.
GoTyme’s efforts were recently recognized as Filipino consumers ranked GoTyme Bank the leader in customer experience in two separate independent studies.
In a May 2024 study by Forrester, GoTyme Bank achieved a Net Promoter Score (NPS) of 76–a 15-point lead over the nearest competitor. The global standard of customer experience metrics, NPS isn’t just a reflection of customer satisfaction, but also loyalty and the likelihood of recommendation. It is measured using a single-question survey and scores can range from -100 to 100.
Another study by the Singapore Economic Development Board (EDB), conducted at the end of 2023, also had GoTyme Bank receiving the top NPS position amongst all banks and eWallets and also came out #1 in the EDB study on Customer Experience (CX) rating with an overall score of 78. These ratings reflect how consumers are delighted and satisfied when they transact with GoTyme Bank.
The GoTyme Bank team plans to further strengthen its position as the country’s leader in customer experience with an even heavier focus on making banking products and processes simpler and more convenient.
