GoTyme Bank gets BSP approval in the Philippines

GoTyme Bank got its Certificate of Authority from the Bangko Sentral ng Pilipinas last July 29. This will allow it to operate here in PH!

GoTyme Bank

GoTyme Bank is now authorized to operate in the Philippines

This means that the BSP has already examined GoTyme Bank's procedures and technical setup and determined that they are in compliance with all BSP rules, including the Bank Secrecy Act, the Anti-Money Laundering Act, the Customers Protection Act, the Data Protection Act, and a strong IT Risk Management Framework.

The third and last step in the process of establishing a digital bank in the nation is the issue of a COA. The remaining two steps are submitting an application to the Monetary Board for the authority to establish a digital bank and receiving the authority to register with the Securities and Exchange Commission.

With safe and secure transactions that have been approved by the Bangko Sentral ng Pilipinas, GoTyme Bank aims to redefine digital banking in the Philippines. Through digital kiosks, GoTyme Bank customers may open an account in under five minutes and take use of banking services and products like better bank transfers, shopping incentives, interest-bearing savings accounts, trading, and customer support.

What do you guys think?