In an announcement made by senior executives on Wednesday, GoTyme Bank anticipates reaching 2 million users by the end of this year, given the rapid pace of monthly user additions.
Currently, the digital bank already boasts 1.35 million users, with the user base growing by approximately 200,000 individuals each month.
Nate Clarke, the President and Co-CEO of GoTyme Bank, expressed the bank’s growth trajectory, stating, “We are growing at around 200,000 customers a month and, in fact, it is only getting faster.”
Co-CEO Albert Tinio further emphasized the projected growth, stating, “I think we will really hit 2 million by the end of the year.” Tinio shared that they had achieved their initial target of 1 million users within 10 months since their launch in October 2022, showcasing a substantial growth rate. He added, “The 200,000 is just an average, and that is also growing every month.”
READ: GoTyme, a New Digital Bank, Launched in the Philippines
Looking ahead, Tinio outlined the bank’s plans to introduce three lending products by the first half of the following year. These products include merchant-advance lending tailored for small and medium enterprises, earned-wage access initially tested within the JG Group of companies, and a “buy now, pay later” product, with plans for approval from the Bangko Sentral ng Pilipinas.
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