GoTyme Bank, a partnership between the Gokongwei Group and global digital banking firm Tyme, has emerged as one of the fastest-growing banks in the Philippines.

In an interview with the Daily Tribune’s digital program Straight Talk, GoTyme co-CEO Albert Tinio credited the bank’s rapid growth to customer trust — something he said stems from its strong brand affiliations and inclusive approach.

At the time of the interview late last year, the bank’s customer base was surging past five million.

“GoTyme is a bank regulated by the [Bangko Sentral ng Pilipinas]. We have strict cybersecurity standards that banks must adhere to in order to be granted a license. Because we have a license, that means we passed the BSP audit and review,” Tinio explained.

He said customers trust the bank because of its Gokongwei backing, Tyme’s proven digital banking systems, its hybrid “phygital” (physical and digital) model, and straightforward yet innovative products.

GoTyme is also covered by the Philippine Deposit Insurance Corporation (PDIC), which insures deposits of up to P500,000 per depositor, a safeguard Tinio highlighted as another layer of protection.

Still, with scams and cyberattacks becoming more widespread, Tinio underscored the importance of strong cybersecurity measures. He said GoTyme benefits from Tyme Group’s global expertise in fraud detection and cyber defense but stressed that security is a “shared responsibility.”

“Let’s remember that cybersecurity is not the sole responsibility of the banks. It is a shared responsibility with the account holders and the government,” he said at the time.

Real-time protection

Tinio pointed to the government’s upcoming enforcement of the Anti-Financial Account Scamming Act (AFASA), or Republic Act 12010, as a significant step toward protecting citizens from fraud.

GoTyme itself has partnered with government institutions to bolster its defenses. It recently signed a memorandum of agreement with the Department of Justice to enhance cooperation on law enforcement and prosecution of cybercrime.

Similar agreements have been forged with the Philippine National Police Anti-Cybercrime Group and the Cybercrime Investigation and Coordinating Center to provide real-time customer protection.

Tinio, however, reminded customers to take precautions themselves.

“Don’t fall for scammers. Protect your hard-earned money. Start with having a strong password for your account,” he advised. “Doubt it if a person asks for your OTP. Do not click on a link sent to you by someone you don’t know. Be mindful of smishing text messages.”

He also urged victims to act quickly. “Inform your sending and receiving banks right away, and file a police report,” he said.