With more than 50 million Filipinos still unbanked and with limited access to financial services, Tonik, Southeast Asia’s first digital-only bank and the first neobank in the Philippines, is determined to make huge strides in financial inclusion in the country in partnership with Globe myBusiness.
Tonik, Southeast Asia’s first digital-only bank, launches as the first neobank in the Philippines today. Tonik brings to the market a revolutionary and completely branchless way of banking on a highly secure mobile platform that sets out to fundamentally disrupt the Filipino retail banking industry. Tonik is supervised by the Bangko Sentral ng Pilipinas (BSP). Its deposits are insured by the Philippine Deposit Insurance Corporation (PDIC). Tonik’s unique cloud-based solution is powered by global financial technology leaders Mastercard, Finastra, and Amazon Web Services.