GoTyme to hit 9M customers in 2025
According to GoTyme co-chief executive officer (CEO) and chief commercial officer Albert Tinio, the bank continues to onboard an average of 250,000 users every month, and has hit 6.7 million users as of June 29, 2025, more than double the 3 million users as of April 2024.
'Definitely we will hit 10 million by next year, but this year, the target is about 9 (million),' he told GMA News Online during a chance interview in Taguig City.
GoTyme CEO Nathaniel Clarke in 2022 said the bank targets to become the country's top bank in the next five years with 10 million users, building on the success of Tyme—its sister company—in Africa which onboarded 5.5 million customers in three years.
Tinio noted the bank has continuously ramped up its onboarding, and has partnered with several retailers to be able to deploy more agents to enroll additional clients. Apart from Gokongwei establishments, GoTyme agents are also available in SM Department Stores.
In the same interview, Tinio said GoTyme is 'getting there' in terms of its goal to hit profitability. The bank earlier said it targets to be profitable by 2025, but the focus remains on scaling up.
'We're growing much faster in terms of users, in terms of transactions, in terms of even revenue. If Tyme hit profitability in five years, we're projecting that we're going to hit profitability much faster than Tyme because all of our trends are faster than our sister company," he said in 2024. —RF, GMA Integrated News
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
18-07-2025
- GMA Network
Cebu Pacific becomes PH's first carrier with 100-strong fleet
Gokongwei-led budget carrier Cebu Pacific on Friday announced its latest historic milestone as it becomes the first local carrier to operate a 100-strong fleet after receiving the delivery of its latest aircraft — a brand new A330neo. 'Reaching 100 aircraft is more than a milestone — it reflects our unwavering commitment to make air travel accessible to more Filipinos,' said Xander Lao, Cebu Pacific president and chief commercial officer. 'With a larger fleet, we're able to operate more efficiently, enhance connectivity across the country and the region, and pass on the benefits of scale through even lower fares,' said Lao. The airline's 100-aircraft milestone came amidst increasing demand for air travel. In June alone, Cebu Pacific said it flew a total of 2.2 million passengers, up 7.9% from the same month last year. From January to June 2025, the airline said it has flown 13.9 million passengers, up 21% from 11.5 million in the first half of 2024. Cebu Pacific said the latest A330neo aircraft is also the 12th aircraft of its kind to join its fleet, reinforcing the airline's position as the largest A330neo operator in the Asia-Pacific. The 459-seater aircraft, which arrived in Manila from Airbus' facility in Toulouse, France, is the second of four A330neos expected to join Cebu Pacific's fleet this year — the first of which arrived on March 28. The airline is expecting a total of seven aircraft to be delivered in 2025. Cebu Pacific's fleet is diversified with a mix of 12 Airbus A330s, 40 Airbus A320s, 26 Airbus A321s, and 22 ATR turboprop aircraft. —LDF, GMA Integrated News
GMA Network
15-07-2025
- GMA Network
BSP wants level playing field among digital banks, 'digital-centric banks
The Bangko Sentral ng Pilipinas (BSP) is working on establishing guidelines that seek to level the playing field among digital banks and 'digital-centric' conventional banks aimed to be released in the next few months, a top official said Tuesday. According to BSP Deputy Governor Chuchi Fonacier, the BSP is now crafting the guidelines on the assessment of the level of digital centricity of thrift banks, rural banks, and cooperative banks. 'It aims to establish the indicators that will be considered in assessing the level of digital centricity of said banks, among others, to ensure proportionate application of said prudential requirements,' she said in her keynote speech during the Chamber of Thrift Banks Convention. 'This will be subject to a phased implementation of higher regulatory standards or requirements applicable to a digital bank, as determined by BSP. This approach promotes a level playing field and ensures consistent application of regulatory requirements and expectations between digital banks and digital-centric banks,' she added. Sought for more details, Fonacier said there should be a level playing field among digital banks and thrift, rural, and cooperative banks that are digitally centric. 'We just want to provide a level playing field kasi di ba (because) there are digital banks, and there are also digital-centric conventional banks, meaning the business model is digitally centric,' she told reporters in Makati City. 'We need to level the playing field, that's why we also would require some more, let's say, capital from those doing that,' she added. At present, the BSP allows up to 10 digital banks — defined as banks that offer financial products and services that are processed end-to-end through a digital platform and/or electronic channels with no physical branches — to operate in the country. To qualify, banks must meet the minimum capitalization of P1 billion, and will have to follow all the fiduciary rules imposed on other bank categories. It has so far granted licenses to six digital banks — GOTyme, Maya Bank, Overseas Filipino Bank (OFBank), Tonik Bank of Singapore, UNObank of Singapore, and UnionDigital of the Union Bank of the Philippines. Two additional banks have also signified their intent to convert or enter as digital banks — one operating rural bank, and another European financial institution. Fonacier on Tuesday said the BSP is also preparing guidance on the ethical use of artificial intelligence (AI) in the financial sector, also targeted to be released within the year. 'While AI is being embedded in the financial system, financial institutions should be alert when it comes to upholding data privacy, and confidentiality of data control,' she said. 'This will cover key areas such as ethical AI deployment, continuous improvement in AI's accuracy when making financial decisions, and rigorous management of algorithmic bias,' she added. — BAP, GMA Integrated News
GMA Network
07-07-2025
- GMA Network
Solons seek probe into high NAIA fees a year after privatization
Opposition lawmakers on Monday called for an investigation into the privatization of the Ninoy Aquino International Airport (NAIA), pointing out that the increased rates in airport services have become exorbitant in the aftermath of the takeover by the San Miguel Corporation (SMC)-led New NAIA Infra Corp. Party-list Reps. Antonio Tinio of ACT Teachers and Renee Co of Kabataan made the call under their House Resolution 29, saying public services should not be made into a cash cow by private businesses. 'We are here to raise the alarm on privatization in what is supposed to be the gateway to our country. NAIA is the fifth busiest airport in Southeast Asia, and our intensified labor export policy has resulted in 7,000 Filipinos a day leaving to work abroad. Pero ang estado ng NAIA ngayon? Napakamahal ng operation nito. At sa mamamayang Pilipino ang pagpasan ng pagbabayad nito,' Co, a lawyer, told reporters after filing the resolution. (How much would you spend to use NAIA now? It is very expensive, and the burden is on the Filipino people.) Co cited that terminal fees will increase from P550 to P950, and even concessionaires or businesses that operate in NAIA now have to spend P3,200 per square meter for rental fees from P700 pesos per square meter. The parking fee, meanwhile, increased from P300 to P1,200 for 24 hours. 'Ganito na kamahal ang NAIA. Pero kung titignan natin, ang airports, bilang daluyan sila ng mga tao, ng mga kagamitan, vital for defense, for security, for economic development. Dapat, ang may hawak niyan, gobyerno. Hindi ito dapat ginagamit para patuloy na magkaltas ng kita sa mga mamamayang dumaraan dito,' Co said. (This is how expensive NAIA is. Come to think of it, airports provide access to people, equipment, all vital for defense, security, economic development. It should be the government who is in control of that. The airport should not be used as a way to reduce the income of people who use the airport.) 'Ang right to travel, hindi dapat 'yan mahal,' Co added. (The right to travel should not be expensive.) Tinio, for his part, said that the country has a long history of privatizing government services such as electricity and water, which did not necessarily result in high quality amenities. 'Just look at PrimeWater. Instead of water being more affordable, the rates even increased. This is what is happening to NAIA now. These increases in concessionaires, terminal will be charged to the airfare in the long run. As it is, we are already the third most expensive airport in Southeast Asia, and we don't see a corresponding quality of service with these increases,' Tinio said. 'That is why we really need an investigation here,' he added. GMA News Online has reached out to SMC for comment and will publish it as soon as it is made available. The New NAIA Infra Corp. took over NAIA operations in September 2024.—LDF, GMA Integrated News
