RECOGNIZED as the fastest growing digital bank in the country, GoTyme Bank yesterday said it is accelerating its customer acquisition this year, hoping to onboard a total of 12.5 million customers by year-end.
“As the brand continues to mature and people know us more, we’re seeing the majority of our customers all organic, not what we call paid acquisition,” GoTyme Bank President and CEO Nathaniel Clarke told reporters at the sidelines of EJAP’s infrastructure forum on Monday.
Clarke said they target to onboard roughly around 1.2 million customers by year-end, bringing the total to 12.5 million.
As of Sept. 26, Clarke said they already reached 11.3 million customers, with around 450,000 new customers were recorded every month.
As a result, the bank’s total customer deposits reached P63 billion as of Sept. 26.
The launch of Apple Pay and Google Pay has also supported customer acquisition, particularly among younger Filipinos, including students and young professionals.
Clarke said customer sign-ups had already started accelerating in July, before Apple Pay was launched in August, although the rollout brought another increase in acquisition.
“We are rapidly, I think, closing the gap on how many accounts people have or account or payments penetration,” Clarke said.
“But the unfortunate reality is we still have a very, very long way to go on the higher value banking or financial services aspects in the Philippines,” he added.
He said that less than 16 percent have access to formal credit.
Clarke said they are also preparing to widen access to MoreTyme, its credit line.
He said GoTyme had invited around 1.2 million customers to access the product and planned to increase that number to 2 million by the end of the year.
By the end of the first quarter of 2027, all customers are expected to be able to apply for the credit line.
“We’re kind of gearing up to going from basically allowing only 10 percent of our customer base, but by the end of the year, 20 percent, and then by end of Q1, everyone will be able to apply,” Clarke said.
GoTyme is one of the regulated digital banks in the Philippines. It is a joint venture between the Gokongwei group and multicountry digital banking group Tyme.
Powered by the extensive ecosystem of the Gokongwei Group, customers can bank where they shop, eat and relax. Through its award-winning mobile app, kiosk, and debit card, GoTyme offers products and services built around security and simplicity that open up new ways of saving, spending and investing.
Six other digital banks currently operate in the country: UNO Digital Bank, Tonik Digital Bank, UnionDigital Bank, Overseas Filipino Bank (OFBank), Maya Bank and Maribank.
