Tonik, the Philippines’ pioneering all-digital bank, said it surpassed a significant milestone by onboarding over one million clients since its inception.
The achievement illustrates the bank’s successful contribution to improving financial inclusion in the country, while highlighting the emerging trend of digital banking in the region.
“We are thrilled to celebrate this momentous milestone, as it stands as a testament to the robust customer-centric model that Tonik has to offer,” said Greg Krasnov, chief executive and founder of Tonik. “Achieving one million onboarded clients in such a short span is a validation of the growing trust and confidence of the Filipino community in our digital banking services.”
Since its launch, Tonik has been committed to reshaping the traditional banking landscape by leveraging cutting-edge technology and a customer-focused approach to democratize financial services.
The bank successfully provided individuals and families, particularly those previously underserved by traditional banking institutions, with accessible, secure and user-friendly digital banking services. In a country where nearly half of the adult population remains unbanked, Tonik’s growth signals a shift towards more inclusive banking practices.
“Financial inclusion has always been at the heart of our mission,” Krasnov said. “We are proud to be part of the solution in bridging the gap for those who previously had limited access to banking services. Through Tonik, we are enabling more Filipinos to manage, save, and grow their money in a manner that is most convenient for them.”