Tagged: tonik

Philippines based Tonik Digital Bank to Expand Operations to Cebu

Philippines based digital bank, Tonik, announces its expansion to Cebu, bringing its full suite of customer-centric and innovative products to this region. This move underscores Tonik’s vision to “enhance financial inclusivity and provide accessible banking solutions to more Filipinos.” With this expansion, customers in Cebu… Read More

Philippines based Digital Bank Tonik Reports Steady Growth

Tonik, the Philippines’ digital-only neobank, recently announced that it has achieved steady growth in its consolidated loan portfolio and revenue in the first half of 2024. In 2023, Tonik claims that it “became the first non-captive digital bank in the Philippines to achieve a major… Read More

Tonik Digital Bank Appoints Ex- BAP Head Cesar Virtusio to Key Role in the Philippines

Tonik, the digital bank in the Philippines, announces the appointment of Mr. Cesar O. Virtusio as a new Independent Director on the Board of its regulated bank subsidiary, Tonik Digital Bank Inc. Mr. Virtusio, an experienced professional in the Philippine and foreign banking and finance… Read More

Tonik Digital Bank Introduces Multipurpose Loans for Consumers in the Philippines

Tonik Digital Bank, the Philippines’ first digital-only neobank, revamped the Big Loan, a multipurpose loan catering to a wider range of Filipinos’ financial needs. First launched in 2023, the Big Loan reportedly “offers borrowers up to P5 million with flexible, tailored repayment options, competitive interest… Read More

Tonik Digital Bank Teams Up with Southeast Asian Payment Gateway Provider Xendit

Tonik Digital Bank announces its newest strategic collaboration with Southeast Asian payment gateway, Xendit. The partnership marks a significant milestone for both companies, “as they join forces to deliver secure, convenient, and customer-centric financial solutions.” The partnership with Xendit will further “enrich Tonik’s ecosystem by… Read More

Tonik Digital Bank in the Philippines Announces Significant Leadership Transition

Tonik Digital Bank Inc. (TDB), the digital bank in the Philippines, announced a significant leadership transition. Long Pineda, President of TDB, will be retiring from her executive role and will “assume the position of non-executive Chairman of the Board of Directors of TDB.” In her… Read More

Philippines based Neobank Tonik Introduces Insurance Services

Tonik, the digital bank in the Philippines, is pleased to announce its newest strategic partnership with life insurance company Sun Life Grepa Financial, Inc.. This transformative collaboration aims “to enhance the financial well-being of the companies’ valued customers.” The focal point of this groundbreaking partnership… Read More

Southeast Asia: Digital Bank Tonik has Onboarded Over 1M Clients Since March 2021 Launch

Tonik recently revealed that it’s pleased to announce that they have successfully “onboarded over 1 million users since they launched in March 2021.” According to Tonik, this is such a momentous occasion for them “because it is solid proof of our significant contribution to improving… Read More

Philippines: Neobank Tonik Acquires TendoPay, Enters Employee Benefits Market

Tonik Financial Pte. Ltd., the parent company of Tonik Digital Bank, Inc. in the Philippines, has entered into a landmark agreement with Tendo Payment Solutions Pte. Ltd. in order “to acquire its Philippine business, operating under the brand name ‘TendoPay’.” This deal, which is “subject… Read More

Tonik Furthers Credit Inclusion Services in the Philippines by Introducing All-Digital Loans

Tonik, the Philippines’ first neobank, continues “to accelerate financial and credit inclusion with the launch of its two new lending products, Flex Loan and Big Loan.” Building on the success of its all-digital savings portfolio and successful launch of its first lending product, Quick Loan,… Read More

Tonik, a Philippines-Based Neobank, Attracts $17M Pre-Series B

Philippines neobank Tonik announced this week it has raised $17 million in Pre-Series B funding. The news follows less than one year after Tonik’s March 2021 public launch that saw it secure more than $20 million in retail deposits in under one month – a… Read More

Digital Banking Platform Tonik Introduces Physical Debit Cards for Consumers in the Philippines

Philippines-based Tonik, a virtual banking platform that was recently awarded an operational license by the Bangko Sentral ng Pilipinas (BSP), has introduced a physical debit cards for its customers. Tonik bank clients are now able to order physical debit cards via an easy-to-use app, and… Read More

Digital Banking: Philippines based Tonik Acquires Virtual Bank License from Bangko Sentral ng Pilipinas

Philippines-based virtual bank Tonik recently revealed that it has managed to acquire a digital banking license from the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. Before receiving this license, Tonik had been offering services under a rural banking license (since 2019). BSP has… Read More

The Philippines-Based Neobank Tonik Secures $17 Million in Pre-Series B Funding Round Led By iGlobal Partners

  Tonik, a neobanking group based in the Philippines, announced on Tuesday it secured $17 million through its Pre-Series B investment round, which was led by iGlobal Partners with participation from Sequoia India, Altara Ventures, and Insignia Venture Partners, Citius, Baring Vostok Private Equity, and… Read More

Asian Digital Banking Challenger Tonik Launches Very First Neobank in the Philippines, Offering Competitive Deposit Rates

Southeast Asia-based all-digital banking challenger Tonik has officially launched the first neobank in the Philippines. Tonik is regulated by the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. Tonik’s deposits will reportedly be insured by the Philippine Deposit Insurance Corporation (PDIC). The digital banking… Read More

Digital Bank Tonik, which Plans to Launch in the Philippines, chooses Mastercard as Payments Partner

Tonik, the very first all-digital banking platform in the Philippines, has reportedly chosen Mastercard as its payments partner as the company gets ready to officially launch its operations later this year. Through the partnership, Mastercard will be supporting Tonik by acting as its Fintech accelerator…. Read More

Singapore-based Online Security Firm V-Key Chosen as TONIK Digital Bank’s Official Mobile Security Partner

Singapore-based digital security firm V-Key announced on May 5, 2020, that it will be the official mobile security partner of TONIK Bank, which is an all-digital bank that is expected to launch in the Philippines later this year. V-Key will aim to offer a secure… Read More

Update: The Philippines is Preparing to Welcome its First All-Digital Bank, Tonik Financial

The Philippines, an Asian country with a GDP of over $300 billion and a population of more than 100 million, is preparing to welcome its first all-digital bank, Tonik Financial, which was established in Singapore in 2018. Tonik has acquired a banking license from the… Read More

Singapore-based Digital Bank Tonik Acquires $6 Million in Funding As it Plans to Introduce Services in the Philippines

Singapore-based neobank Tonik Financial Pte. Ltd. has acquired $6 million in funding as it plans to officially introduce its services in the Philippines during the third quarter of this year. Tonik has received seed funding from Fintech venture developer Forum. The digital bank has also… Read More

Neobank Tonik Is Planning to Launch an All-Digital Bank in the Philippines After Acquiring License

Tonik, a neo banking startup, is planning to launch a digital-only bank in the Philippines after acquiring an online banking license from the nation’s reserve bank. Seed funded and established by Fintech venture developer Forum, Tonik’s management is preparing to introduce the new platform within… Read More

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