Tonik has renewed its partnership with financial software provider Finastra to boost its core banking capabilities and accelerate online services.
Under the deal, Finastra Essence, a cloud-enabled banking solution, will enhance Tonik’s end-to-end core banking functions. This collaboration aims to expedite the development and launch of new products and services, furthering Tonik’s rapid growth in the digital banking sector.
Finastra’s innovative technology has played a crucial role in Tonik’s success, enabling the bank to reach one million customers in less than three years. The partnership will continue to drive innovation in the digital banking space, expanding Tonik’s offerings and customer base. Finastra’s open platform for innovation, FusionFabric.cloud, will contribute to this endeavor, aligning with the BSP’s push for open finance in the Philippines.