Case Study: Tonik accelerates digital-first banking with Finastra Essence

Tonik launches digital banking with Finastra, reaching $150 million in customer deposits

Tonik, the first neobank established in the Philippines, sought to disrupt the financial sector by building a first-of-its-kind full-service digital bank. Their goal was to boost financial inclusion and provide effective financial management for their customers. To achieve this, they partnered with vendor Finastra to implement a digital-first solution built on a cloud-based core banking system.

Finastra provided its Fusion Essence solution, a next-gen core banking platform, to underpin Tonik's full-scale digital retail banking suite. This pure cloud-based solution provided the agility, speed of execution, and scalability required for rapid growth. As a result, Tonik successfully launched its services and achieved significant measurable impact, including opening 1 million customer accounts, disbursing 1 million loans, and securing US$150 million in customer deposits. With Finastra, Tonik is bringing digital banking to millions in the Philippines.

Tonik