Tonik (bank)

Tonik Bank
Industry
FoundedMarch 18, 2021; 3 years ago (2021-03-18)
Headquarters
Pasig City
,
Philippines
Key people
Grygorii Krasnov (Founder, Chairman, and CEO)
Maria Lourdes Pineda (President and Country Manager - Philippines)
ParentTonik Financial Pte Ltd
Websitetonikbank.com

Tonik Digital Bank, Inc., commonly known as Tonik, is an all-digital bank which was launched in the Philippines in 2021,[1] notable for being the first all-digital bank, or "neobank" in Southeast Asia. Its consumer products range from deposits, payments, debit cards, and loans. It operates with its own bank license issued by the Bangko Sentral ng Pilipinas (BSP), with deposits insured by the Philippine Deposit Insurance Corporation (PDIC). Its holding company is Singapore-based Tonik Financial Pte Ltd.[2]  

Tonik is backed by international investment groups Sequoia India, iGlobe Partners, Insignia Ventures, Point72 and Camerton Holdings.[3] Other than Manila, the neobank operates out of three hubs based in Singapore, Kyiv, and Chennai.[2]

  1. ^ Amadora, Len (2021-03-19). "A revolutionary digital-only bank launches in the Philippines". Manila Bulletin. Archived from the original on 2021-03-18. Retrieved 2021-12-03.
  2. ^ a b "Tonik becomes PH's first neobank to secure digital bank license". Tonik Bank. Archived from the original on 2021-06-07. Retrieved 2021-12-03.
  3. ^ Rosario, Ania del (2021-04-27). "Spotlight Asia: Neobanks and Growth of New Technologies Part Two". The Fintech Times. London. Archived from the original on 2021-04-27. Retrieved 2021-12-03.