In a banking landscape where the average Filipino consumer also gets average-quality service, GoTyme Bank endeavors to go the distance and offer a “preferred” banking experience to everyone.
At only nine months old, GoTyme Bank is the fastest-growing bank in the Philippines, with a trajectory that crosses the 1 millionth customer mark in a few weeks. In a recent interview, President and CEO Nate Clarke attributes their success in the country to their partnership with the Gokongwei Group and their unique, human-led digital model of banking.
“If you strip away all the apps and the branches and everything else from banking in general, it’s a trust game, and the Gokongwei name is accelerating customer adoption.
Most importantly, I think the reason we’ve had early success is our unique model. We are doing a very human-led digital model of digital banking. And that allows us to deliver a preferred banking experience to everyone,” Clarke explained.
He adds that today, this preferred banking experience is limited to the top 5% of consumers, in particular, those bringing in millions of pesos to the business. “If you’re an average Filipino customer served by a bank, you’re limited to transactional savings. You have no access to affordable credit, investment, or insurance. You’re excluded from these unless you have a certain balance with the bank,” said Clarke.
GoTyme Bank’s unique approach provides all clients with “preferred” service, first and foremost, by humanizing the mundane, transactional, and often tedious experience of banking. Despite its highly digital model, GoTyme appreciates how consumers value human connection. With many traditional transactions now facilitated through apps and chatbots, GoTyme’s unexpected but much-appreciated edge is its human-led, “phygital” onboarding and continued client servicing.
