Tag "TONIK"
Philippines Digital Banks Attracted US$700 Million So Far as Investors Interest Peaks
In a promising development for the standalone digital banks in the Philippines, more than US$700 million has been invested by both local and global investors, indicating robust growth in this emerging industry. As of the end of 2023, the number
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Breaking Down Digital Banking Products in the Philippines
Digital banking has swiftly expanded across Asia, notably achieving reasonable success in nations such as South Korea, China, and Japan. Within Southeast Asia’s digital banking sector, the Philippines joined Singapore as early adopters of digital bank products and services amid
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Tonik Financial Confirms Multiple Layoffs in Bid for Profitability
Tonik Financial, headquartered in Singapore and operating the Tonik Digital Bank in the Philippines, has recently revealed a reduction in its workforce, which the company says is a strategic move towards enhancing revenue streams and attaining profitability. The decision, as disclosed
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Tonik Introduces ‘Luv Stash’, a Savings Product for Couples to Earn 4.5% Interest
Following Valentine’s Day last week, Tonik Digital Bank has recently unveiled ‘Luv Stash,’ a novel savings product. This facility stands out in the market by allowing two individuals to jointly save whilst earning an interest rate of 4.5%. The idea
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Tonik and Xendit Collaboration to Grow Digital Banking Payment Options
Tonik Digital Bank and the Southeast Asian payment gateway Xendit have announced a new strategic partnership, set to enhance the range of financial services available to Tonik consumers by introducing secure and convenient options for managing financial transactions. Starting from
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Maria Pineda Takes Helm as New Chair of Tonik Digital Bank’s Board
Tonik Digital Bank, Inc. has recently appointed Maria Lourdes “Long” Pineda as the non-executive Chair of its Board of Directors. Maria, with a background in financial inclusion and banking, was previously the President of Tonik since 2019. Her career, spanning
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Tonik Upgrades Loan Offering to Cater to SMEs
Tonik Digital Bank recently updated its Big Loan product, aiming to address a broader range of financial requirements for small businesses in the Philippines. This enhancement is part of Tonik’s efforts to support the growing needs of small and medium
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Fintech in the Philippines: 2023 in Review
The fintech space in the Philippines has been growing rapidly in 2023, with several developments that have shaped the industry and the country’s financial inclusion. The fintech sector in the Philippines witnessed significant growth in 2023 which reflects the country’s
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Tonik Rolls Out Insurance Product for Loan Borrowers
Philippines’ digital bank Tonik has tied up with life insurance company Sun Life Grepa Financial to launch Payhinga, an inclusive insurance product for loan borrowers. Payhinga will complement Tonik’s existing loan offerings and will be readily available to customers applying
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Tonik Strengthens Finastra Partnership as It Surpasses 1 Million Users
Philippines’ digital bank Tonik announced that it has renewed its partnership with financial services software and cloud solutions provider Finastra. Through this partnership, Finastra’s Essence core banking platform will continue to power Tonik’s end-to-end banking operations. Essence is cloud-enabled and
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