Oliver 74 0 0 1 year ago 4 min to read

A digital bank executive plans to have 10 million active customers in five years.

In five years, a representative of GoTyme Bank, one of the six digital banks that the Bangko Sentral ng Pilipinas (BSP) has permitted to operate in the nation, wants to have 10 million active users.

GoTyme Bank Chief Executive Officer Nathaniel Clarke stated in an interview conducted on the sidelines of the partnership launch between GoTyme Bank, Visa, automated teller machine (ATM), and online banking channel network BancNet on Tuesday that they are optimistic about reaching their target in five years given the significant number of unbanked Filipinos.

“We don’t believe we will be the largest bank regarding assets and lending books. We’re going to be the Filipinos’ go-to bank, he declared.

The digital bank will put up kiosks in every Robinson’s supermarket nationally, initially in the National Capital Region and major cities and later to other regions of the country.

According to the company’s representatives, printing the ATMβ€”which will have the same identification (ID) number as the client’s virtual cardβ€”would take about five minutes, enabling them to serve many consumers quickly.

By the middle of October this year, according to Clarke, they intend to formally debut the digital bank’s kiosks.

The digital bank is a joint venture between the Gokongwei Group’s Robinsons Bank, Robinsons Land Corporation, and Robinsons Retail Holding Inc. and the multinational digital banking organization Tyme.

In the digital bank, Gokongwei Group jointly owns 60% of the shares.

The BSP granted the bank its certificate of authority on July 29 of last year.

Financial firms known as “digital banks” run their whole business model through internet channels with no physical presence.

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