（Singapore, 08.05.2025）Philippine neobank Tonik is redefining the future of digital banking in Southeast Asia, reporting record-breaking growth and operational efficiency through its strategic partnership with global fintech provider Finastra. By deploying Finastra’s Essence core banking platform, Tonik has accelerated its scale-up while introducing transformative customer experiences, setting new standards in the region’s banking sector.
Since its launch in 2021, Tonik has disbursed over one million cumulative loans and expanded its loan portfolio by seven times within two years. At the same time, it has reduced unit operational service costs by a factor of five. These achievements have been made possible through Finastra’s cloud-native, API-enabled core banking solution, which offers Tonik the flexibility and scalability needed to serve a fast-growing digital customer base.
The bank’s partnership with Finastra has evolved through an Agile Streams engagement model that strengthens Tonik’s functional, operational, and architectural capabilities. With this framework in place, Tonik has enhanced its responsiveness to market changes and customer demands, while accelerating the rollout of new services in a dynamic regulatory environment.
At the forefront of AI-driven banking in the Philippines, Tonik is also harnessing advanced technologies to improve underwriting, quality control, and voice analysis. Internally, the use of artificial intelligence has led to efficiency gains of over five times in several operational areas. On the customer service front, 90 percent of inquiries are now managed within the app, and 75 percent are resolved without human intervention. This shift has quadrupled customer service productivity and significantly reduced response times and operational costs, enabling the bank to reinvest savings into lower fees and improved offerings.
Tonik’s pioneering work has earned international recognition. At the 16th Annual Retail Banker International (RBI) Awards 2025, Tonik and Finastra were jointly honoured with the “Best Core Banking System Initiative” award. Tonik also emerged as the regional winner for Asia and category winner for “Customer Experience” at the IBSi Digital Banking Awards 2025. These accolades underscore Tonik’s leadership in digital innovation and its impact on advancing financial inclusion across the Philippines.
Greg Krasnov, Founder and CEO of Tonik, noted that the bank’s agility, underpinned by Essence’s open architecture and deep integration of AI, has created a future-ready infrastructure capable of supporting rapid growth while delivering outstanding customer value. “Winning these awards is testament to our mission to push the boundaries of digital banking,” he said.
Finastra’s Executive Vice President for Universal Banking, Siobhan Byron, highlighted that Tonik exemplifies how powerful, scalable banking platforms can enable customer-centric innovation. “We are proud to support Tonik in its journey to reimagine banking in the Philippines,” she said.
As Tonik continues to expand, its collaboration with Finastra stands as a compelling model for banks across emerging markets aiming to embrace cloud-based systems, modern banking frameworks, and data-driven engagement—while placing financial inclusion at the heart of their mission.
