#tonik digital bank Philippines

Tonik, the Philippines's first digital-only neobank, has launched a Quick Loan product on its platform. From there, the funds can be withdrawn through OTC partners Cebuana and MLhuillier, moved to the client’s other bank or e-wallet account, or paid out through an ATM or merchant payment using the Tonik Debit Card. READ: Tonik Digital Bank: What you need to know Tonik has officially launched in the Philippines as the market’s first neobank. It operates on the basis of its own bank license issued by the Bangko Sentral ng Pilipinas (BSP), providing deposit, loan, payment, and card products to consumers through a digital banking platform. Tonik is a digital-only bank that was recently launched in the country. Tonik Financial Pte Ltd is based in Singapore and focuses on product development and technology integration for its digital banking platform. Tonik’s banking operations in the Philippines are conducted by its local subsidiary Tonik Digital Bank Inc, regulated by Bangko Sentral ng Pilipinas as a rural bank. Read more in our articles including "Tonik launches Quick Loan in the Philippines" and "Tonik Digital Bank: What you need to know".