GoTyme Bank, a between the Gokongwei Group and Singapore-based digital banking Tyme, is investing in boosting its security measures and optimizing its tech ahead of its launch.
The Bank was permitted to operate by the Bank Sentral ng Pilipinas last year which is in line with the BSP’s goal of digitizing 50% of payments and helping get 70% of adult Filipinos into the banked population by the year 2023.
Amid incidences of phishing, malware, ransomware, fraud, identity theft, and social engineering in the banking industry, GoTyme Bank has heavily invested in the best cyber security controls to strengthen its defenses.
“Without good cybersecurity, you can’t have trust,” explains Chris Bennett, GoTyme Bank, Chief Technology Officer. “We make use of the best security controls throughout the lifecycle.”
Built on Tyme Bank’s experience and success in South Africa, GoTyme Bank is working with the world’s leading providers to prevent and combat potential threats. Being a cloud-first and cloud-only company makes it possible for GoTyme Bank to assess and react to threats faster.
“Being cloud only, we can make changes fast,” Bennett remarks. “We bring experiences of tackling threats from South Africa and we’ve been able to integrate some of the latest security tools.”
In addition, AWS manages the infrastructure of GoTyme Bank benefiting from a wide range of security features like the Payment card Industry Data Security Standard. biometrics will also be used for high-value items.
Once GoTyme Bank comes online, you will be able to open an account and receive a free personalized debit card in under five minutes via digital kiosks located in Robinsons Malls and Robinsons Supermarkets.
Moreover, GoTyme Bank promises to deliver high-quality banking products and services such as better savings interest rewards, fund transfers, trading, and investing, as well as 24/7 customer support via call, chat, or e-mail.
GoTyme Bank is set to launch in Q3 2022. For early access, you can subscribe to GoTyme’s newsletter for exclusive updates on exciting features and products.
Started his freelancing adventure in 2018 and began doing freelance Audio Engineering work and then started freelance writing a few years later.
Currently he writes for Gadget Pilipinas and formerly wrote for Grit.PH.
He is also a musician, foody, gamer, and PC enthusiast.
