Gokongwei-backed GoTyme Bank levels up fintech game with SAVii acquisition
GoTyme Bank, a joint venture between the Gokongwei family and a Singaporean digital bank, has acquired SAVii, a leading fintech salary lender in the Philippines, further strengthening its push into payroll-linked financial products.
Founded in 2017, SAVii (formerly Uploan) has become the top player in salary lending with over P3 billion in loans. It serves over half a million employees across 150 major Philippine corporations and is recognized as the best employee benefits provider for two years in a row.
This acquisition by GoTyme Bank’s shareholders, JG Summit Holdings and Tyme Group, is expected to accelerate GoTyme’s growth and profitability.
Together, GoTyme Bank and SAVii aim to be the Philippines’ leading provider of payroll-based financial solutions. By integrating SAVii’s lending services with GoTyme’s existing offerings, they can reach a significant portion of the Philippines’ employed population.
GoTyme recently launched an earned wage access (EWA) feature, allowing employees of partnered companies to access their pay daily.
“This acquisition enables us to drive our strategy of deepening customer relationships by offering payroll and financial products that benefit both employees and their employers,” said Nate Clarke, GoTyme Bank president and CEO.
