News

TONIK selects Finastra to power pure-play licensed digital bank in SE Asia

Tuesday 21 January 2020 09:41 CET | News

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.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Finastra, TONIK, TONIK Bank, digital bank, Southeast Asia, Asia, APAC, Philippines, Singapore
Categories: Banking & Fintech | Online & Mobile Banking
Countries: South East Asia
This article is part of category

Banking & Fintech