GoTyme now has 6.5 million clients, P30 billion deposits

MANILA, Philippines —  Digital bank GoTyme Bank has surpassed 6.5 million users and reached P30 billion in customer deposits, less than three years since its launch. 

As of the second quarter, the digital bank said it has become one of the country’s fastest-growing financial institutions, now ranking among the top four in monthly active app users and top five in Instapay transaction volumes. 

“GoTyme users spent over P10.5 billion on the GoTyme Bank card in the last three months and in the past year has been used in over 100 countries meaning GoTyme customers are not just using the card here, they are taking us with them as they explore the world,” GoTyme Bank CEO Nate Clarke said. 

In response to the growing depositor base, the bank said it has implemented stricter security protocols, such as mandatory biometric verification when relinking devices, along with enhanced fraud detection systems designed to identify and prevent threats more efficiently.

As part of its expansion strategy, GoTyme Bank co-CEO Albert Tinio said SM Stores across the country would host physical kiosks of GoTyme Bank by the third quarter to boost accessibility.