Case Study: Tonik achieves 133% loan growth with Finastra Essence

Tonik boosts loan production 133% with Finastra

Tonik, the first digital bank licensed to operate in the Philippines, partnered with vendor Finastra to power its innovative digital banking services and support its significant growth. The bank needed a core banking solution that could provide the flexibility and advanced technology required to scale quickly and deliver a cutting-edge customer experience.

Finastra implemented its Essence cloud-first core banking solution. This provided Tonik with API functionality, greater reliability, and secure data for analytics. The results were substantial, including a 133% year-on-year increase in loan production and a 4.3x increase in operational efficiency, enabling the bank to onboard millions of customers and disburse over a million loans.

Tonik