GoTyme Bank

GoTyme Bank (stylized as GOtyme bank) is a Filipino direct bank and a subsidiary of the Gokongwei Group.[1][2]

History

The creation of GoTyme Bank was planned in 2021 by the Gokongwei Group as a joint venture with South African-owned TymeBank. The Gokongwei Group secured a certification to operate a digital bank from the Bangko Sentral ng Pilipinas in 2022.[3][4]

On October 20, 2022, GoTyme Bank was formally launched. As the Gokongwei Group owned Robinsons Bank when it launched, JG Summit President Lance Gokongwei stated that the Ayala-owned Bank of the Philippine Islands will be GoTyme Bank's shareholder once BPI's merger with Robinsons Bank is completed,[5] which took effect on January 1, 2024.[6] However, on March 22, 2024, BPI announced that it will divest its stake in GoTyme, citing a "potential conflict of interest".[6][7]

On May 22, 2024, GoTyme's CEO Albert Raymund O. Tinio signed a memorandum of understanding with the Department of Information and Communications Technology’s CICC Director Alexander K. Ramos at the National Cybercrime Hub in Bonifacio Global City. Its “Whole-of-Society” approach aims to fight financial fraud, including cyberattack on e-commerce transactions, in collaboration with Scam Watch Pilipinas.[8]

See also

• Digital banks in the Philippines
• Neobank
• Robinsons Bank

External links