GoTyme Bank Receives BSP Approval for High-Quality Digital Banking Services to PH

GoTyme Bank was awarded its Certificate of Authority to operate as a digital bank by the Bangko Sentral ng Pilipinas (BSP) last July 29, 2022.

This signifies that the BSP reviewed GoTyme Bank’s processes and infrastructure and deemed them compliant with all of the BSP’s regulations. Among the regulations include 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 COA is the third and final stage in establishing a digital bank in the country. 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.

GoTyme Bank clients can open an account in under five minutes through digital kiosks and enjoy banking products and services like better bank transfers, shopping rewards, interest savings, trading, investing, and customer service.

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Source: Gadget Pilipinas