GoTyme Bank is expanding its services to include “Buy Now Pay Later,” cryptocurrency trading, and local equities with the aim of reaching 9 million customers by 2025.
GoTyme Bank aims to reach a growth of 9 million customers by 2025, the bank told the Daily Tribune.
This growth will be fuelled by a range of new product launches and services aimed at enhancing the customer experience and broadening financial inclusion in the Philippines.
Central to this strategy is the introduction of a “Buy Now, Pay Later” scheme, offering consumers greater flexibility and access to credit.
This initiative aligns with the Bangko Sentral ng Pilipinas’ (BSP) focus on financial inclusion. GoTyme Bank mentioned that when BSP talks about financial inclusion, it’s not just about opening accounts but also about providing access to lending products.
After having secured a Virtual Asset Service Provider (VASP) license from the BSP, GoTyme Bank is also expanding to its customers by diving into the cryptocurrency market. This move positions GoTyme as a significant player, catering to the growing demand for secure and reliable crypto services.
Furthermore, GoTyme is also awaiting another license from the BSP to offer local equity services. This strategic move will enable customers to access and trade local equities, providing them with more diverse investment options.
These developments come on the heels of GoTyme’s successful Series D capital raise, where Tyme Group and Nubank emerged as lead investors. The significant investment underscores confidence in GoTyme’s growth strategy and its potential to disrupt the Philippine banking sector.
The bank’s focus on innovation, customer-centric products, and strategic partnerships positions it for continued success in the dynamic digital finance market.