Nate Clarke | FinTech Magazine
A new bank arrived in the Philippines this year. But don’t expect to see brick-and-mortar branches popping up on the streets of Manila, because the new brand, GoTyme Bank, has a unique approach for a new kind of consumer.
Instead of opening the doors of physical branches, GoTyme Bank’s launch was marked by the appearance of special digital kiosks that will be distributed throughout the retail ecosystem of the Gokongwei Group. From supermarkets, department stores and even convenience stores, this approach will help Filipinos transition to mobile banking and financial services offered by the new venture.
A partnership between Gokongwei Group and Singapore-based digital banking group Tyme – which operates across Asia and South Africa – GoTyme Bank will be led by Nate Clarke, president and CEO, and co-founder of Tyme Group.
Before joining the business in 2012 to launch his first business in South Africa, Clarke worked in senior management consulting roles with high-profile names including Deloitte.
Clarke says he was forced to join the fintech industry when he found himself ready for new career and life challenges. “I was at a conference in Washington, DC, where I was based more than 10 years ago, and saw a presentation about a very successful digital wallet in Kenya,” says Clarke. “I heard about this phenomenon in East Africa where digital wallets and digital banking were transforming a country. And I said, ‘This is what I want to do with my life.’
Human ambassadors help with the transition to digital banking
The kiosks will be distributed in the Robinsons Retails network across the country. New customers will have the opportunity to meet human ambassadors who will handle the entire onboarding process there and then.
“Our kiosks are capable of capturing personal data and identification documents, including biometrics, fingerprints and other data,” explains Clarke. “It can then print and release a debit card right there in the store – and this whole process happens in five minutes or less.”
Another example of GoTyme Bank’s human touch includes the ability for customers to call, chat or email the company 24 hours a day, seven days a week. Customers can also take advantage of the new digital bank’s unique rewards program that turns “points into pesos,” which can be instantly credited to an account.
GoTyme Bank also offers customers access to a world of trading and investing – services linked directly to bank accounts to offer progressive investment options.
GoTyme Bank will provide secure and easy on-boarding through both an app and digital kiosks conveniently located in the mall and retail of Gokongwei Group.
“In South Africa, 3 million of our 3.5 million customers joined TymeBank through our digital kiosks deployed in retail environments,” explains Clarke. “We believe the combination of this technology and Gokongwei Group’s nationwide retail footprint gives GoTyme a clear path to rapid growth.”
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