GoTyme Bank on Tuesday said it acquired SAVii or the New Cross Credit and Financing Gate PH Inc. to help it expand its payroll-enabled financial products operations.
SAVii, earlier known as Uploan, is rated the largest salary lender in the country. Founded in 2017 by its CEO Liam Grealish with Benoit Portoleau-Balloy and Javier Frasseto, SAVii has a loan book of over P3 billion serving more than 500,000 employees across 150 of the biggest Philippine corporations.
“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,” Nate Clarke, GoTyme Bank president and CEO, said.
“For us at SAVii, salary is more than just take-home pay. It’s the safest vehicle to financial empowerment. Teaming up with GoTyme Bank was a clear and obvious path in our mission to assist individuals in accessing formal finance. We are excited with the opportunities it opens for our partner companies and their employees,” Grealish said.
GoTyme Bank looks to provide Filipino companies with the best payroll-enabled suite of financial products, helping human resources leaders unlock their employees’ financial potential with the convenience and security of a bank.
By integrating the SAVii credit offering into GoTyme Bank’s lending and payroll proposition, the two are poised to capture a significant market share of the employed population in the Philippines.
The expansion into payroll-enabled financial products is also aligned with the call of the Bangko Sentral ng Pilipinas to expand lending to Filipinos.
