President and CEO, GoTyme Bank and Co-Founder at Tyme Group
A new bank arrived in the Philippines this year. But don’t expect to see brick-and-mortar branches appear on the streets of Manila, because the new brand, GoTyme Bank, has a unique approach for a new kind of consumer.
Instead of opening the doors of physical branches, GoTyme Bank’s launch was marked by the appearance of special digital kiosks that will be deployed throughout the retail ecosystem of the Gokongwei Group. From supermarkets, department stores and even convenience stores, this approach will help Filipinos make the move to mobile banking and financial services offered by the new venture.
A partnership between the Gokongwei Group and Singapore-based digital banking group Tyme – which operates across Asia and South Africa – GoTyme Bank is to be led by Nate Clarke, President and CEO, and one of the founding members of the Tyme group.
Prior to joining the business in 2012 to start its first operations in South Africa, Clarke worked in senior management consulting roles with high-profile names including Deloitte.
Clarke says he was compelled to join the fintech industry when he found himself ready for new career and life challenges. “I was at a conference in Washington, DC, where I was based more than 10 years ago and saw a presentation about a very successful digital wallet in Kenya,” says Clarke. “I heard about this phenomenon in East Africa where digital wallets and digital banking were transforming a country. And I said, ‘This is what I want to do with my life’.”
Human ambassadors help make the move to digital banking
The kiosks are to be deployed in Robinsons Retails network across the country. New customers will have the opportunity to meet with human ambassadors who will handle the entire onboarding process there and then.
“Our kiosks are capable of capturing personal data and identification documents, including biometrics, fingerprints, and other data,” explains Clarke. “It can then print and release a debit card there in the store – and this entire process happens in five minutes or less.”
Another example of the GoTyme Bank human touch includes the opportunity for customers to call, chat or email the company 24 hours a day, seven days a week. Customers can also benefit from the new digital bank’s unique rewards programme that turns ‘points into pesos’, which can instantly be credited to an account.
GoTyme Bank also offers customers access to the world of trading and investing – services linked directly to bank accounts in order to provide progressive investment options.
GoTyme Bank will provide secure and easy onboarding through both an app and digital kiosks that are conveniently located throughout the mall and retail footprint of the Gokongwei Group.
“In South Africa, 3 million of our 3.5 million customers joined TymeBank through our digital kiosks deployed in retail environments,” explains Clarke. “We believe the combination of this technology and the Gokongwei Group’s nationwide retail footprint provides GoTyme a clear path to rapid growth.”
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Consumers now see banking as a thing you do, not a place you go, and they are increasingly saying that the strength of the mobile experience is what should be the driver of choice