MANILA - Digital bank GoTyme said it is confident it can hit 2 million customers by the end of the year.

GoTyme, which is a joint venture between the Gokongwei Group and the Singapore-based Tyme Group, registered over 1.35 million users, less than a year after it was launched in the latter part of October 2022.

In a press briefing, GoTyme President & Co-CEO Nate Clarke said they are expecting over 200,000 new users every month or at least 600,000 more before the end of 2023.

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Clarke said GoTyme is now the 7th largest bank in the country in terms of active debit cards, the 11th in terms of InstaPay volume, and the 5th in terms of app user base.

It also plans to launch new products such as loans and possibly even stocks and cryptocurrency, pending regulatory approvals. International transfers may also be launched next year, he said.

“Merchant lending will start next month. We have an earned-wage access payroll lending product that we’re launching only with the Gokongwei Group as a pilot, but next year we will scale that,” said Clarke.

GoTyme Co-CEO Albert Tinio added that they would add more kiosks nationwide from 370 now to 400 by the end of the year, and over 500 by the middle of next year. Users can open accounts and get their physical ATM cards using the kiosks.

Tinio also said that the bank would expand even outside the Gokongwei Group. Right now most kiosks are in Robinsons Malls and other Gokongwei-owned establishments.

Tinio said they are also focused on becoming a “human digital bank” as he highlights the bank’s customer-centric experience.

All customers will be talking to real human operators when they call the hotline or chat via the in-app chat feature, Tinio said. This sets the bank apart from other banks where it is difficult to talk to a customer service representative or there are many call menu options to click before being directed to a human agent, he added.

GoTyme said it aims to become the country’s largest digital bank.

There are only 6 digital banks licensed by the Bangko Sentral ng Pilipinas. Aside from GoTyme, the other digital banks are Maya Bank, Overseas Filipino Bank, Tonik, UnionDigital Bank and UNOBank.

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