GOTYME Bank is bullish on reaching profitability even faster than a sister bank in South Africa, claiming to be significantly ahead on all key metrics since its launch a little over a year ago.

GoTyme, a joint venture between the Gokongwei Group and Singapore-based global digital banking group Tyme, said it had topped 2.3 million customers in just 14 months, onboarding an average of 250,000 per month in the last three months alone."GoTyme's first 14 months are significantly ahead of Tyme Group's South Africa operation on a like for like basis, which acquired 1.6 million customers within the same timeframe," it said in a statement.TymeBank in South Africa was said to be one of the world's fastest-growing digital banks, having secured 8.5 million customers since its launch in February 2019 and achieving 30-percent growth in its small and medium enterprise lending portfolio last year.Nate Clark, chief executive officer of GoTyme, said: "We are proud of our sister bank in South Africa and we see this as further validation that our unique retail distribution model is a major accelerator in building a sustainable digital bank."This gives us even more confidence that GoTyme is on the right track to build one of largest retail banks in the country and fulfill its mission of unlocking the financial potential of all Filipinos," he added.The Tyme Group's success was attributed to a business model that combines digital and human engagement with physical retail ecosystems.In the Philippines, GoTyme follows this by providing access to physical kiosks and banking ambassadors in partnership with partners and retailers nationwide.The bank also offers what it calls a "democratized" preferred banking experience by providing all customers with services such as five-minute account opening and issuance, low transfer fees and a commitment to answer calls under three minutes.