For many businesses, “sustainability” immediately conjures up images of tree-planting initiatives, or medical and community outreach missions—worthy endeavors, to be sure, but ultimately disconnected from the core business.
Their comfort zone resides in the more familiar territory of Corporate Social Responsibility (CSR), a company’s commitment to operating in a way that benefits society or environment.
But as the world moves into the 2030s, CSR is also undergoing a significant shift, driven by increasing societal expectations, technological advancements, and global challenges. It is leaning toward a more proactive, integrated, and data-driven approach as companies recognize that their success depends not only on shareholders but also on a broader range of stakeholders, including employees, customers, suppliers, communities, and the environment.
Businesses are increasingly focusing on their social and environmental impact, aligning their operations with a higher purpose.
As they adopt circular business models that minimize waste and maximize resource efficiency, companies are combining philanthropic efforts with business strategies to create lasting social and environmental impact, even as financial instruments are being developed to incentivize investments in social and environmental projects.
Business with a purpose
GoTyme Bank, a collaboration between multi-country digital banking group Tyme and the Gokongwei Group, has emerged as a gamechanger in the Philippine banking industry for its groundbreaking innovations with its business model, products and services.
The bank has integrated sustainability into its core business model. It puts into practice good governance, including risk management, risk governance, compliance management, cybersecurity and fraud management, and consumer protection practices. While value creation has yet to be fully embedded in its strategy, GoTyme Bank is actively working toward making sustainability as shared value a central pillar of its operations.
Turning the misconception that creating shared value (CSV) prioritizes social good over financial gain on its head, the bank understands that profit is essential, but it shouldn’t come at the expense of the customer or the environment.
Toward 360-degree sustainability
Studies have shown that CSR, while positive, can be a cost center and doesn’t always directly impact the business. CSV, on the other hand, focuses on integrating social and environmental concerns into the core business model.
As a digital-first bank, GoTyme Bank is making a significant contribution to environmental protection. By encouraging customers to adopt digital banking services, the bank is reducing carbon emissions associated with traditional banking activities, such as physical branch visits and paper-based transactions.
Moreover, the bank’s cloud-based infrastructure and focus on digitalization have led to a substantial reduction in energy consumption compared to traditional brick-and-mortar banks. This not only benefits the environment but also helps to lower operational costs.
Beyond commitment to environmental sustainability, GoTyme prioritizes the needs of its customers and employees. By providing convenient, accessible, and secure digital banking services, the bank helps individuals and businesses power on toward their financial goals.
Ultimately, GoTyme Bank’s CSV initiatives result in tangible benefits for the bank, such as innovation, competitive advantage, increased revenue and profitability.
The bank recognizes that true sustainability hinges on understanding and meeting customer needs. This means rethinking its business to offer not just technologically advanced products and services, but beautiful, user-friendly solutions that address affordability and accessibility.
“GoTyme is a unique digital bank offering a premium banking experience to all Filipinos. We combine digital convenience with personalized human support. Unlike traditional banks, we focus on making technology accessible and trustworthy for everyone,” says GoTyme Bank president and CEO Nate Clarke.
Albert Tinio, GoTyme Bank co-CEO, adds, “We aim to help all Filipinos achieve their financial goals. We use technology to make our products and services accessible to everyone, and we’ve simplified our processes so that anyone can use them. Our kiosks and friendly staff have helped us grow quickly, even attracting customers who might be uncomfortable with fully digital banking.”
GoTyme partnered with PayMongo Philippines Inc. to revolutionize financial access for micro, small, and medium-sized enterprises (MSMEs). This collaboration introduced Capital, a cutting-edge business loan designed exclusively for PayMongo merchants, which offers a hassle-free, three-step digital application process that can be completed in minutes. Once approved, funds are disbursed within a single business day, providing MSMEs with the rapid financial support they need to scale their operations.
Besides simplifying the loan application process, GoTyme Bank, by leveraging PayMongo’s data, can assess creditworthiness efficiently and offer tailored financing solutions. Meanwhile, Capital’s flexible repayment, instead of imposing fixed monthly payments, aligns repayments with the customers’ business performance. This ensures that MSMEs aren’t burdened by excessive debt during economic downturns.
CX at front and center
This is why at GoTyme Bank, all roads lead to the delivery of exceptional customer service. Its efforts were recently recognized as Filipino consumers ranked GoTyme Bank #1 in customer experience (CX) index and net promoter score (NPS) among Philippine banks in separate independent surveys by Forrester and the Singapore Economic Development Board.
The CX index assesses the overall customer experience, while NPS measures customer loyalty and advocacy. In a May 2024 study by Forrester Consulting, GoTyme leads the industry in CX Index with a score of 87, which is 4.8 points above the industry average. With an NPS of 76, GoTyme outshines the industry average of 58 by a significant margin. This indicates a higher percentage of customers who are likely to recommend the bank to friends and family.
GoTyme Bank’s phygital model combines digital convenience with human touch, offering a wide range of banking products and services. This also means customers can bank where they shop and get personalized support whenever they need it.
From easy account opening and fast debit card issuance to high-yield Philippine peso savings account and US dollar time deposit and flexible MSME loan, GoTyme Bank has something for everyone.
Its frontline teams—from bank ambassadors to personal bankers—understand the pivotal role they play in the bank’s success as the “public face” of GoTyme’s customer experience (CX). They look forward to more personalized banking via GoTyme products that are tailored to specific customer needs.
“We have created a supportive work environment where our team understands the importance of human connection in banking,” says Jenelyn L. Bajacan, GoTyme Bank customer service lead.
Bajacan adds, “We aim for a compassionate environment where we’re always ready to help our clients.”
By providing multiple, integrated channels for customers to reach out to, GoTyme’s customer service ensures that conversations aren’t abruptly cut off. Also in the works is a more robust feedback system to gather customer insights and using them to drive product development.
“Our personal bankers play a vital role in fostering a supportive, high-performing work environment,” says Glenn Ygusguiza, customer service senior operations manager.
He adds that they are committed to operational excellence. “By improving tools, processes, and performance management, we’re enhancing both internal operations and customer service. Recognizing our employees’ achievements helps create a positive and motivating work culture,” says Ygusguiza. “To further improve customer experience, we’re focusing on streamlining processes, enhancing tools, and improving communication. This includes providing real-time updates and offering more self-service options.”
For its part, the Information and Security team is committed to safeguarding both the bank’s assets and customer data, with emphasis on ironclad cybersecurity to protect digital transactions and infrastructure, and transparent communication with the public about how they can work with GoTyme to ensure data security.
“While we protect the bank’s sensitive data and ensure compliance with data protection regulations, we also prevent cyberattacks, maintain secure operations, and enable safe digital innovation,” says manager Kristel Dykimching. “This helps us build trust, protect customers, and support sustainable growth. To combat fraud, we’re raising customer awareness and strengthening security measures. We’ve implemented strong protocols like encryption and multifactor authentication.”
She adds that they are looking to provide more education on fraud tactics and proactive tips to help customers secure their accounts.
As for the GoTyme kiosks, the technical support team have been hard at work in its CX journey, particularly when it comes to self-service stands. They’ve been on their feet ensuring that these kiosks are always up and running and that the debit card printing process is seamless. They have optimized their support processes, shifting from onsite to centralized technical support to improve efficiency.
“Our Kiosk Operations team is dedicated to providing excellent service,” says manager Daniel Anthony Barrion. ”We use data-driven solutions, careful planning, and consistent tracking to operate efficiently and sustainably while maintaining high customer satisfaction.
We’ll continue to collaborate with GoTyme vendors to drive continuous improvement and seek the best possible solutions for our customers.”
Beautiful banking transforms sustainability
Since GoTyme Bank started Philippine operations in late 2022, the bank has pushed past buzzwords to explore a deeper understanding of what customers truly need. This means going beyond the bells and whistles and focusing on accessibility, value, and exceptional customer experience.
A beautiful product is useless if it’s locked away behind a cluttered interface or a high barrier to entry. The bank has prioritized usability and inclusivity through its app’s stripped-down interfaces, clear communication, and ensuring that our products and services are geared toward a diverse range of users.
Customers want solutions that solve their problems and enhance their lives. Tinio says, “At GoTyme, we don’t settle for things that merely work; we strive to create beautiful products and services.”
Clarke adds: “Traditionally, banking has been associated with stress and frustration. At GoTyme, we’re aiming to change that by providing products and services that make our customers smile.”
GoTyme Bank leads the way in transforming sustainability by creating a business model that thrives alongside its customers and communities. By prioritizing CX-centric service, operational efficiency, and MSME empowerment, GoTyme is proving that CSV is a powerful recipe for sustainable success.
