Digital bank TONIK has announced it will use Finastra’s Fusion Essence in the cloud to power digital banking in the Philippines
Finastra announced today that TONIK, the first licensed digital-only bank in Southeast Asia, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities. The move will support TONIK as it launches its retail deposit and customer loans services in the Philippines.
The key proposition for digital banks is providing a customer experience that traditional banks struggle to offer. This requires cloud-native technology that facilitates innovation whilst future-proofing investment. For TONIK, Fusion Essence Cloud will be deployed out of the Microsoft Azure Southeast Asia Region (Singapore Data Center), which will allow for both low latency and data residency.
TONIK will also benefit from ongoing software updates and, in time, access to further innovation via FusionFabric.cloud, Finastra’s platform for the development of applications.
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