Tonik Taps Google Cloud to Build its Digital Bank

Tonik Taps Google Cloud to Build its Digital Bank

by January 11, 2022

Philippines’ neobank Tonik announced that it is has built on Google Cloud’s advanced platform to deliver its financial services in just 10 months.

The bank had leveraged Google Cloud’s expertise in scalable infrastructure, application programming interface (API) management, machine learning (ML) and data analytics.

By using Google Cloud’s Apigee API Management platform, Tonik could quickly integrate its mobile app with capabilities from third-party providers to make account opening and cash deposits fast, seamless and convenient.

To help Filipinos set up accounts in under five minutes, Tonik interoperates with Daon, its partner for automated customer onboarding and biometric authentication.

The neobank has also has built an intelligent data lake using Cloud Storage on Google Cloud and BigQuery to provide hyper personalised customer experiences and help many Filipinos access loans for the first time.

Tonik has recently launched a consumer lending product called “Quick Loan” without the need for credit histories or collateral, followed by approvals within 30 minutes and real-time disbursement.

The neobank currently serves more than 190,000 customers and plans to grow its active customer base to a million users by December 2022.

Greg Krasnov, CEO and Founder of tonik CRIF

Greg Krasnov

“Google Cloud has enabled us to deliver frictionless and customer-centric services that allow Filipinos to easily embrace the financial system.


This collaboration – having played an integral role in Tonik being entrusted with more than US$100 million in consumer deposits to date – will empower us to continue expanding our product portfolio and drive real societal impact across the region.”

said Greg Krasnov, Founder and CEO, Tonik.

Ruma Balasubramanian

Ruma Balasubramanian

“Tonik, through its mature API- and data-led strategy, is creating an open finance ecosystem that will accrue richer digital user experiences and flexibility for players to securely share and maximize digital assets – with Filipinos the ultimate beneficiaries.


Google Cloud is proud to be a part of Tonik’s innovation journey.”

said Ruma Balasubramanian, Managing Director, Southeast Asia, Google Cloud.