Case Study: Tonik (Philippines’ first neobank) achieves financial inclusion and rapid, scalable digital banking with Finastra Essence (Finastra)

Tonik drives financial inclusion and innovation through next-gen digital banking powered by Finastra Essence

Tonik, the Philippines’ first licensed neobank, set out to drive financial inclusion in a market where roughly 70% of people remain unbanked. To meet regulator demands and scale quickly while maintaining agility and reliability, Tonik partnered with Finastra and selected Finastra Essence as its core banking platform.

Finastra Essence, deployed on Microsoft Azure and built with microservices, gave Tonik fast product-launch capabilities, real‑time data for analytics and easy integration of AI (e.g., ChatGPT) and third‑party services. The impact: 2 million customers and 1 million loans onboarded, 30% faster loan approvals, 90% of inquiries handled in‑app with 75% resolved automatically, a 4.3x increase in operational efficiency (projected USD 20M savings over three years), and strong growth—133% YoY loan production, 94% consumer loan growth and a 78% rise in lending income—results Tonik credits to Finastra.

Tonik

Greg Krasnov

Founder and CEO