The Bangko Sentral ng Pilipinas (BSP) announced on Thursday, Sept. 25, that it will stop accepting new applications for digital banking licenses beginning Dec. 1, 2025, effectively closing the application window just 11 months after it was reopened.
CIMB Group, the Malaysia-based parent company of CIMB Bank Philippines, is refining its growth strategy across Southeast Asia by focusing on niche roles in individual markets rather than pursuing a uniform approach across the region.
Twenty-five years since its founding in 2000 as Smart Money and nine years after its rebrand as PayMaya in 2019, and three years after its subsequent overhaul as Maya in 2022, the PLDT-owned e-wallet firm has finally achieved net income profitability in the first quarter of 2025.
To celebrate the milestone, GoTyme Bank will be treating its loyal customers to a limited-time treat, bringing back its 5% annual savings rate from January 1 to February 28, 2025.
The Bangko Sentral ng Pilipinas (BSP) has approved the lifting of the moratorium on the grant of new digital banking licenses starting Jan. 1 2025 and allowed a maximum of ten digital banks to operate in the country.
As such, the company has dropped its “digital bank” description in its marketing collaterals to convey the message that it is now a full-fledged bank performing its functions in a digital platform.
Fast-growing digital bank GoTyme is set to propel the expansion of its payroll-enabled financial products through the recent acquisition of SAVii by GoTyme’s major shareholders.
A newly organized organization of digital banks in the Philippines said global and local investors have poured over $700 million into the digital banking sector, setting a new milestone that underscores the industry's robust growth and its potential to reshape the digital financial landscape.
The multimedia push aims to illustrate the irreplaceable value of the human touch — that despite GoTyme Bank’s digital nature, its customer service still remains the most important touchpoint in building meaningful relationships with clients.
