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.
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This signifies that the BSP has already reviewed GoTyme Bank’s processes and infrastructure and deemed them compliant with all of BSP’s regulations including 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 involved 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 is set to revolutionize digital banking services in the Philippines with safe and secure transactions as certified by the Bangko Sentral ng Pilipinas (BSP). With a high-tech-high touch approach, clients can open an account in under five minutes through digital kiosks and avail of banking products and services such as better bank transfers, shopping rewards, interest savings, trading, investing, and customer service.
Related: GoTyme Bank invests in security measures through state-of-the-art technology ahead of launch
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