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| Tonik becomes the Philippines' first Neobank |
With industry-leading deposit interest rates of up to 6% p.a., Tonik encourages its consumers to "Save Big and Dream More." Tonik provides exclusive Stash and Community Stash features, as well as conventional Term Deposits, to make saving more important, enjoyable, and social.
Customers will open a completely functioning banking account using only the Tonik App, an ID, and a selfie in under 5 minutes. Tonik accounts can be conveniently topped up in a variety of forms, including interbank, debit card, or cash at one of the country's almost 10,000 discount agents. The customer is sent a virtual Mastercard debit card that can be used at several e-merchants as soon as they sign up. The product offering will be extended soon to include a physical debit card and the ability to take out an all-digital consumer loan.
“We founded Tonik because we were fed up with typical banks' mistreatment of their clients. The fact that 70% of Filipinos are now unbanked demonstrates that conventional banks' lengthy onboarding processes and ridiculously low interest rates fail to meet the demands of their customers. We agree that banking should be easy, enjoyable, and, like so many other services these days, available right in the palm of your hand. Tonik Founder & CEO Greg Krasnov says, "We are using world-class technologies to significantly slash running expenses, which helps us to deliver game-changing interest rates and not charge unreasonable fees to our consumers."
“Unfortunately, conventional banks have lost all sense of how to listen to their customers. As a result, we're on a mission to become the Philippines' first bank brand with a sense of humour and a real personality that customers can relate to. Our goal is to start a #NeoBankingRomance wave in the Philippines. Long Pineda, President of Tonik Digital Bank, Inc, Tonik's controlled bank subsidiary in the Philippines, says, "We anticipate our proposition for the #NeoNormal to resonate especially strongly with the 'digital natives' in the Philippines, who constitute the majority of the population."
Although Tonik strives for a polite and humorous demeanor, one of the things it takes very seriously is the preservation of its clients' funds and transactions. Tonik is the Philippines' first bank to be PCIDSS-certified, the global "gold standard" of payment card authentication. CISA, the leading expert in global IT security audits, has also accredited Tonik's systems. Client access is secured to the highest degree possible with server-based biometrics, and all passwords and OTPs are encrypted to military-grade standards.
Visit http://tonikbank.com to learn more about Tonik and its services.