GoTyme Bank, a partnership between the Gokongwei Group and Singapore-based digital banking group Tyme, is optimizing its tech and security measures ahead of its launch. In 2021, the bank received its license to operate in line with the Bangko Sentral ng Pilipinas’ goal of digitizing 50% of all payments and having 70% of Filipino adults in the banked population by 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. Social engineering is the act of deceiving individuals in order to manipulate them to disclose confidential or personal information, such as one-time pins (OTP) or passcodes.

As a cloud-first and cloud-only company, GoTyme Bank is able to react to threats much faster than any organization, Bennett emphasizes. 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 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.”

Even before GoTyme Bank’s code is written, teams are already trained in cyber development best practices, Bennett notes. The bank makes use of SonarQube, an open-source platform that continuously inspects and reviews codes to detect bugs. During the building process, internal and external security teams test the code for any vulnerabilities, and upon going live, a cyber operations center monitors and then alerts and acts upon threats.

“Our infrastructure is managed by Amazon Web Services (AWS) and we’re able to benefit from the range of secure certifications that they offer, such as the Payment Card Industry Data Security Standard (PCI DSS) and the National Institute of Standards and Technology (NIST),” Bennett says. AWS control towers allow GoTyme Bank to automate reporting and identification of issues.

AWS is the world’s most comprehensive and widely used cloud platform that offers on-demand cloud computing web services to millions of customers, while PCI DSS is a global information security standard for protecting data. NIST, meanwhile, is a cybersecurity framework used by governments and industries worldwide. GOTyme also credits its experience working with NICE Actimize, the leading global provider of financial crime, risk, and compliance solutions, to guard against fraud and money laundering

When it comes to high-value items, biometrics may also be used to verify the identity of individuals making a transaction. “Our payments fraud capability is world-leading, and we make use of our own and also industry data to spot and prevent attacks,” Bennett says.

Once live, GoTyme Bank clients 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. 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, subscribe to GoTyme’s newsletter for exclusive updates on exciting features and products.

Digital banking, especially via mobile devices, is quickly becoming the top-of-mind mode of transactions for many Filipinos. While it is highly associated with ‘speed’, ‘convenience’, and ‘ease of use’ among its users, digital banking is often seen as ‘less safe’ and could be more prone to hacking and fraud.

Conventional ways of ensuring account security, such as complex password, is no longer a guarantee from hacking, nor does ownership of a smartphone immediately imply that the user is familiar with technology or any of the jargon it comes with.

With these various factors of uncertainty, the fight for better security seems to result in a more intimidating experience for some people. However, for ING Philippines, the principle of continuously offering frictionless and easy banking goes hand-in-hand with donning a strong security approach.

“Adoption of digital banking is here to stay and all players in this ecosystem, such as banks to e-wallets and payment services providers, have to make ‘security’ the top priority while providing a smooth and frictionless banking experience in today’s digital age.

At ING, instead of creating a series of hoops and hurdles for the user, we do the heavy lifting,” said Hans B. Sicat, country head and managing director of ING Philippines. “The underlying goal is to create a simpler, more straightforward experience while keeping our customers and their accounts secure,” added Hans.

Differentiating campaigns to inform and collaborate with customers on security

Anchored on the belief that a secure and frictionless banking experience need not be complicated or only accessible to the ‘tech-savvy’ ones, ING wants to reassure its customers that it is #SimplySecuredWithING so they are free to ‘do their thing’ – as aligned with ING’s global tagline.

The campaign hero material features ways in which ING is protecting its customers in common day-to-day scenarios:

• Device Binding

As the first mobile-only banking player in the Philippines, ING uses ‘device binding’ where a customer’s ING account can only be accessed on mobile devices that are authorized by the customer through face recognition and personal information authentication. This reduces the chances of account hacking and unauthorized access.

• Continuous Monitoring

Round-the-clock monitoring of the accounts and confirmation messages are sent with every transaction, so the customer is informed of any activity on/her account.

• Emergency Measures

In the event of suspicious activity, ING verifies the transaction directly with the customer and gives the option to either confirm the transaction or limit the account and card usage while an investigation takes place. Customers can also choose to freeze or unfreeze their debit cards in one tap via the ING mobile app when they need to secure them. 

“Beyond the regular security reminders, the #SimplySecuredWithING campaign aims to inform ING customers by using day-to-day scenarios and simplifying terms to understand ING’s existing security features. More importantly, our customers can be equipped to respond to these common scenarios related to their accounts as depicted in the video. Through this, ING hopes to collaborate with our customers on building safe digital banking practices while assuring them of the high level of security measures taken to protect their accounts,” Hans added.

Watch the #SimplySecuredWithING video on: https://fb.watch/dmEhdMfT0D/

A few weeks after its new brand launch, Maya makes waves anew as it introduces new features to make it even easier for Filipinos to master their money.  The fresh updates from the country’s all-in-one money app for June include a new savings feature called Personal Goals, new crypto coins, higher transaction limits, and exciting promos. 

With the new features, Maya also stepped up its close collaboration with young Filipino artists and creators – starting with Shanti Dope, through a trailblazing music video that creatively incorporates an “easter egg hunt” for a chance to win a portion of P1-million in prizes. 

“The customer response to our relaunch has been overwhelmingly positive, and our Early Access program was a smashing success. Maya’s unique all-in-one money app, which seamlessly brings together digital banking services, crypto, and an e-wallet for the customer, clearly addresses the pent-up demand for world-class financial services” said Pepe Torres, Chief Marketing Officer of Maya. 

Saving for specific goals? Maya’s got you. 

To further make it easier to save, Maya is launching Personal Goals, a Savings feature with a 6% interest rate* that enables customers to set aside money for specific purposes – whether it’s for a new laptop for school, airfare for a long-awaited vacation, tickets for a music fest, down payment for a condo unit, an emergency fund, or starter fund for a small business. Personal Goals will be available within the month of June, so watch out for this!

With Personal Goals, you can create savings goals and personalize their names and target amounts. You can set up a Personal Goal for up to six months, and you can keep up to five at a time, allowing you to see how everything is progressing at a glance.

The Personal Goals complements Maya Savings, now available for all upgraded Maya customers. Maya Savings is digital savings account with a 6% interest rate* that’s as easy to use as an e-wallet, initially offered on early access mode during the Maya launch. 

On top of offering Personal Goals, customers with Maya Savings will automatically be upgraded as Maya Power Users, allowing them to cash in up to P500,000 to their Wallet and quickly transfer it to their Maya Savings account. Best of all, Maya customers can enjoy 99.9% app uptime reliability, enabling access to their savings anytime.

New crypto-coins are here, plus new features ahead!

If you’re planning to grow your money via crypto, here’s some good news: Maya has added five new currencies to the app: Algorand, Ape Coin, Avalanche, Doge, and Stellar. Maya now offers 15 coins to help you diversify your portfolio. What makes Maya Crypto better is the seamless, integrated experience – no need to cash in/out or buy crypto using another app – it’s an all-in-one experience with Maya. 

Expect a more personalized experience with Maya, in the near future. Soon, you can set up your own @username that will serve as your Maya identity and let your friends easily send you money without using your mobile number or QR code. You will also enjoy all these awesome Maya features in dark mode! 

1M hidden in a music video? 

Taking control of your money is seamless with Maya – but who knew it could be exciting too? The all-in-one money app has blazed the trail through a creative collab with rap phenom Shanti Dope for the music anthem of this generation, entitled Maya. 

The creative collab for the trending single was revealed last weekend through an easter egg hunt for P1,000,000 worth of cash prizes hidden in plain sight throughout the music video. All you need to do is watch the music video and look for the ten unique cash codes until June 9 for a chance to win prizes. Check out the Shanti X Maya Cash Code Hunt promo at www.maya.ph/shanti. 

“Customers are connecting to our new brand’s bold look, feel, and sound. This transformation would not have been possible without a world-class team of Filipino creatives who have brought our brand to life. The process reflects our culture and how we built Maya to be the first-of-its-kind money app for Filipinos,” said Torres.

More creative collab with the new generation of Filipino creatives

According to Torres, Maya aims to build a brand that’s as trailblazing as the app experience. The collab with Shanti Dope has paved the way for more co-creation with this generation’s game-changers. 

For example, Maya works hand-in-hand with sought-after photographer Shaira Luna to co-create Maya’s photo library with a diverse range of talent that truly reflects the next generation of Filipinos. This creative approach will allow Maya to stand out in a saturated marketing landscape where it’s not uncommon to see competing brands use the same stock photo models in their promotional materials.

Maya combines the power of an e-wallet with new features like crypto, credit, and an innovative digital banking experience powered by Maya Bank, to allow you to spend, save, grow, invest, and master your money — all in just one app.  To know more about Maya, visit maya.ph or follow @mayaiseverything on Facebook, IG, Tiktok, and YouTube and @mayaofficialph on Twitter. Join our Telegram community at https://t.me/TeamMayaPH for Maya exclusives.