Tag "TONIK"

Tonik Enables Real-Time Fund Transfers up to PHP 50,000 With InstaPay

Philippines digital bank Tonik announced that it has integrated InstaPay services on its mobile app to enable real-time fund transfers. Tonik said in a statement that it is the first licensed digital bank in the country to fully implement InstaPay

Read More

Tonik Appoints Tomasz Borowski as Its Group COO

Philippines digital bank Tonik announced that Tomasz Borowski will be joining its leadership team as the Group Chief Operations Officer (COO). Tomasz will be based in Singapore and employed by the holding company Tonik Financial, while working closely with the

Read More

Tonik Partners With NetGuardians and Finastra to Mitigate Fraud in Real Time

Tonik, a licensed digital-only bank in Philippines, has selected NetGuardians and Finastra’s AI-based, real time fraud mitigation solution. Banking software provider Finastra had partnered with Swiss fintech NetGuardians in 2019 to identify fraudulent payments in real-time, stopping them before money

Read More

Tonik Appoints Former Google, Meta Director as Its Chief People Officer

Philippines’ digital bank Tonik announced today the appointment of Manoj Varghese as its Chief People Officer to spearhead its growth and cultural integration. Manoj was formerly Google’s HR Director for Japan and Asia Pacific (JAPAC) as well as Director of

Read More

Tonik Aims to Roll Out BNPL and Crypto Products in the Next Year

Philippines’ neobank Tonik marks its first year of operations in the country after securing a digital bank license from the Bangko Sentral ng Pilipinas (BSP) in June last year. Since its public launch, Tonik recorded PHP 1 billion (US$ 20

Read More

Tonik Pulls in US$131 Million From Series B Fundraise Led by Mizuho Bank

Philippines’ digital bank Tonik announced that it closed a US$131 million Series B equity funding round led by Japan’s Mizuho Bank which has been active in the country since 1981. Other significant new investors in the round included Prosus Ventures

Read More

Tonik Taps Google Cloud to Build its Digital Bank

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)

Read More

Tonik Surpassed US$100 Million in Consumer Deposits in Less Than a Year

Philippines’ digital bank Tonik announced that it has surpassed PHP 5 billion (US$100 million) in consumer deposits 8 months after its launch of commercial operations. Tonik had previously secured PHP 1 billion (US$20 million) in consumer deposits within a month

Read More

Tonik Ventures Into the Consumer Lending Market With ‘Quick Loan’ Offering

Philippines’ neobank Tonik announced that it has launched a Quick Loan product on its platform marking its venture into the consumer lending market in the country. Tonik said that its all-digital Quick Loan is designed to serve the unbanked and

Read More

BSP Will No Longer Be Accepting Digital Bank Applications

Bangko Sentral ng Pilipinas (BSP) announced that it will no longer be receiving applications for new digital banks including banks wanting to convert their status from 1st September 2021. Digital bank applications sent in to BSP until 31 August 2021

Read More