Daily TribuneBy encouraging customers to adopt digital banking services, GoTyme Bank is reducing carbon emissions associated with traditional banking activities.
GoTyme Bank offers not just technologically advanced products and services, but beautiful, user-friendly solutions that address affordability and accessibility.
PHOTOGRAPH COURTESY OF GOTYME BANK
GoTyme Bank, a collaboration between multi-country digital banking group Tyme and the Gokongwei Group, is adopting the creating shared value (CSV) framework for its sustainability program.
CSV is a sustainable management strategy through which firms can turn social problems into business opportunities.
There are three ways to execute CSV: (1) reconceiving products and markets; (2) redefining productivity in the value chain; and (3) improving the local and regional business environment.
GoTyme Bank has integrated sustainability into its core business model by putting into practice good governance, including risk management, risk governance, compliance management, cybersecurity and fraud management, and consumer protection practices. While value creation has yet to be fully embedded in its strategy, GoTyme Bank is actively working toward making sustainability as shared value a central pillar of its operations.
As a digital-first bank, GoTyme Bank is making a significant contribution to environmental protection. By encouraging customers to adopt digital banking services, the bank is reducing carbon emissions associated with traditional banking activities, such as physical branch visits and paper-based transactions.
Moreover, the bank’s cloud-based infrastructure and focus on digitalization have led to a substantial reduction in energy consumption compared to traditional brick-and-mortar banks. This not only benefits the environment but also helps to lower operational costs.
The bank recognizes that true sustainability hinges on understanding and meeting customer needs. This means rethinking its business to offer not just technologically advanced products and services, but beautiful, user-friendly solutions that address affordability and accessibility.
“GoTyme is a unique digital bank offering a premium banking experience to all Filipinos. We combine digital convenience with personalized human support. Unlike traditional banks, we focus on making technology accessible and trustworthy for everyone,” GoTyme Bank president and CEO Nate Clarke said.
Albert Tinio, GoTyme Bank co-CEO, added, “We aim to help all Filipinos achieve their financial goals. We use technology to make our products and services accessible to everyone, and we’ve simplified our processes so that anyone can use them. Our kiosks and friendly staff have helped us grow quickly, even attracting customers who might be uncomfortable with fully digital banking.”
“The bank has prioritized usability and inclusivity through its app’s stripped-down interfaces, clear communication, and ensuring that our products and services are geared toward a diverse range of users,” he added.
By prioritizing customer-centric products and services, GoTyme is proving that CSV is a powerful recipe for sustainable success.
