The Philippines has a new digital bank player, GoTyme Bank as it received its Certificate of Authority to Operate from the Bangko Sentral ng Pilipinas (BSP) last 29 July 2022.
This milestone signifies that the BSP has already reviewed GoTyme Bank’s processes and infrastructure, and found them compliant with all of the regulator’s requirements including the Bank Secrecy Act, Anti-Money Laundering Act, Customers Protection Act, Data Protection Act, and a robust IT Risk Management Framework.
The issuance of a Certificate of Authority to Operate is the third and final stage involved in establishing a digital bank in the Philippines. The other two stages are filing an application for the Authority to Establish a Digital Bank with the Monetary Board (MB) and the Issuance of the Authority to Register with the Securities and Exchange Commission (SEC).
GoTyme Bank is set to revolutionize digital banking services in the Philippines with safe and secure transactions as certified by the BSP. With a high-tech-high-touch approach, GoTyme Bank clients can open an account in under five minutes through digital kiosks and avail of banking products and services such as better bank transfers, shopping rewards, interest savings, trading, investing, and customer service.
Be sure to subscribe to GoTyme Bank’s newsletter via www.gotyme.com.ph to receive exclusive updates and news about early access. Follow the official GoTyme Bank social media channels on Facebook and on Instagram for more information.