Cover CEO Nate Clarke explaining the phygital, physical plus digital, model of GoTyme Bank (Photo: GoTyme Bank)
CEO Nate Clarke explaining the phygital, physical plus digital, model of GoTyme Bank (Photo: GoTyme Bank)
1 / 1
In our My First video series, CEO Nate Clarke talks about his mission to unlock the financial potential of Filipinos by offering banking services to the unbanked
Once a high-flying management consultant at Deloitte in the US, Nate Clarke’s career path took an unexpected turn over a decade ago. During a mobile money conference, he encountered the mobile phone-based money transfer service M-Pesa from Kenya.
Seeing the potential to revolutionise access to financial services for the unbanked, Clarke traded the predictability of corporate life for the uncharted waters of digital banking. He got involved in a mobile money project in South Africa, which would later become the foundation for establishing online banking group Tyme in 2012.
Clarke then moved from the US to South Africa and then to the Philippines to make banking as accessible and essential to Filipinos. According to the country’s central bank, the Bangko Sentral ng Pilipinas (BSP), almost 44 to 50 percent of Filipino adults remain unbanked as of 2022. As a result, GoTyme Bank’s 2022 debut isn’t just another entry into the digital banking arena, it’s a shift poised to redefine how Filipinos interact with their finances.
Read more: These are the 35 Gen.T Leaders of Tomorrow from the Philippines
Above JG Summit Holdings President Lance Gokongwei and GoTyme Bank CEO Nate Clarke (Photo: JG Summit Holdings)
JG Summit Holdings President Lance Gokongwei and GoTyme Bank CEO Nate Clarke (Photo: JG Summit Holdings)
1 / 1
Now as the CEO of GoTyme Bank, a joint venture between the conglomerate Gokongwei Group and Tyme, Clarke is placing the company in a league of its own. GoTyme Bank blends the immediacy and convenience of digital platforms with the reliability and reach of physical touchpoints. The combination of physical and digital, known also as phygital, ensures banking is accessible and attuned to the needs of consumers.
In June 2024, Tatler Gen.T recognised Clarke as one of our Leaders of Tomorrow 2024. In our latest series My First, a collection of one-minute videos featuring our honourees’ first pivotal moments in their careers, we invited Clarke to share his inspiring story. Here are some of the highlights of his interview.
Watch the My First series on the Tatler Gen.T Instagram, Facebook or YouTube.
His first a-ha moment
“What inspired me to take this journey was a conference on mobile money in 2010. At the time, I was envisioning my future 10 years ahead: it would be comfortable and it would be well-paying, but it didn’t excite me. I didn’t think it’d be adding too much to the world. During the conference, founders spoke about how mobile technology was going to provide access to financial services to everyone. At the time, over 50 percent of the world did not yet have a bank account. That inspired me to get into this.”
The first company mission
“When we started the business, the first mission was to make financial services as accessible as mobile communications. It hasn’t changed much over the last 12 years. Our tagline now is to unlock the financial potential of all.”
Read more: My First: How Tipsy Collective’s David Gan steered the business in turbulent times
The first big breakthrough
Above While the GoTyme app offers ease of use, the kiosks ensure that onboarding and card printing are quick, smooth and enjoyable experiences (Photo: GoTyme Bank)
While the GoTyme app offers ease of use, the kiosks ensure that onboarding and card printing are quick, smooth and enjoyable experiences (Photo: GoTyme Bank)
1 / 1
“The biggest gig or client we’ve landed is a joint venture relationship with the Gokongwei Group. Our model is digital banking combined with a physical presence so we effectively convert retail stores and offices into banks. Having that anchor partner with the Gokongwei Group with their massive retail network plus their brand trust was huge.”
GoTyme’s first hurdle
Above GoTyme Bank now has over 300 kiosks in malls and supermarkets all over the country (Photo: GoTyme Bank)
GoTyme Bank now has over 300 kiosks in malls and supermarkets all over the country (Photo: GoTyme Bank)
1 / 1
“The first month after the launch, there were lines to sign up for the product. While we were relieved that there was a good product market fit, it introduced unexpected challenges. For example, we were running out of Visa cards because we couldn’t get them delivered fast enough and we couldn’t hire people in our customer service fast enough and get them trained. We had to delay our rollout.”
Read more: My First: Illustrator Sophia Hotung on how she rescued herself and uplifts charities through art
The first thing he does in the morning
“Unlike many of the more successful and bigger global entrepreneurs and CEOs, I don’t wake up at 4 am and do 10 things every day. I’m more of a night person. I do most of my best work and thinking in the evening. This allows me to spend the early morning with family. I have four young daughters. I use the morning for more family time and getting ready for the day.”
Quotes are edited for clarity and brevity.
Tatler Gen.T My First series
In Tatler Gen.T’s My First video series, we explore the milestones of the Gen.T Leaders of Tomorrow who are positively influencing the region, setting a path for those who will follow in their footsteps.
Syrah is Tatler Philippines’ Power & Purpose editor, where she spotlights extraordinary journeys shaping the Philippines and Asia. She covers business, innovation, impact, and culture—chasing the people, ideas and forces shaping how we live and think today.
