#tonik neobank

Tonik has officially launched in the Philippines as the market’s first neobank. What else do you need to know about this neobank? 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. As mentioned, Tonik is supervised by the Bangko Sentral ng Pilipinas (BSP). This implies that all the users' money with Tonik in their Savings Account, Stashes, and Time Deposit are insured up to PHP 500,000 per depositor by PDIC. Tonik’s cloud-based solution is powered by global financial technology leaders Mastercard, Finastra, and Amazon Web Services. Read more in our articles including "Tonik Digital Bank: What you need to know" and "Tonik Digital Bank now available in the Philippines".