GoTyme Bank to launch more ATMs, products

GOTYME BANK is looking to roll out more automated teller machines (ATMs) throughout the country and additional products this year.

Gigi Puno, head of technology at GoTyme, said in an online event on Thursday that the bank has evolved into a phygital (physical digital) lender as it is the first neobank to introduce ATMs.

“We’re not stopping with just one ATM. We’re expanding our network to give (customers) even more access and convenience for cash outs,” she said.

“In fact, by end of this year, you can expect to see several strategically located ATMs across key areas of the country such as malls, transportation terminals, groceries, offices, and tourist spots,” she said.

She said GoTyme aims to bridge the gap between digital convenience and tangible accessibility.

“Ultimately, our goal is to provide you with unparalleled accessibility to free withdrawals, ensuring that your banking experience is as seamless and hassle-free as possible,” she said.

GoTyme Bank is rolling out ATMs in partnership with Euronet Technology Service, Inc.

“GoTyme Bank, through our partnership, is able to leverage our unique platform to accelerate physical deployment of ATMs throughout the country,” Sriram Jayakumar, managing director of Euronet, said.

“The entire ATM channel management ranging from site selection and deployment, site contracts, cash logistics to transaction reconciliation, is managed seamlessly by Euronet, thereby allowing tremendous flexibility for GoTyme Bank to scale up its network,” he added.

Meanwhile, GoTyme Bank Co-Chief Executive Officer (CEO) Albert Raymund O. Tinio said the bank is launching more products, features and services for its customers.

He said GoTyme Bank will be offering a savings interest rate of 4% per annum effective March 1.

“As we bring the banking experience to even greater heights, we’re introducing an industry-first offering: a multi-currency time deposit, starting with the US dollar,” Mr. Tinio said.

“Unlike traditional banks that often require a minimum investment of $1,000, we’re breaking down barriers by allowing you to start investing with only a dollar with an interest rate of 3% for three months, and 3.5% for six months,” he said.

Users can also generate bank statements or bank certificates through the lender’s mobile app, he said. It is also upgrading its scan-to-pay QR (quick response) payment features and expanding its deposit and withdrawal network.

Consumers can earn reward points to pay for purchases, bills, and buy load. Credit card billers will also be a part of the bank’s Pay Bill feature in the coming weeks.

GoTyme President and CEO Nathaniel D. Clarke said banks are not properly addressing Filipino customers’ demand for better banking experiences.

“At GoTyme Bank, we set out to fill that gap by delighting our customers through a banking experience that is simple, beautiful, and rewarding,” he said.

“In 2024, we plan to bring more products and features while continuing to deliver the beautiful experience that you’ve grown to love and trust from GoTyme Bank,” Mr. Clarke said.

The bank recorded a total of 2.5 million customers just 15 months after its launch. It is also the seventh bank in terms of InstaPay transactions as of January 2024.

The digital lender is also the fourth bank in terms of monthly active users as of January, based on data from App Annie, a mobile data and analytics platform.

GoTyme is one of the six licensed digital banks in the country, with the others being Tonik Digital Bank, Inc., Maya Bank, Overseas Filipino Bank, UNObank, and UnionDigital. — Keisha B. Ta-asan