Tonik digital bank customers can now transfer funds via PESONet – Back End News


Tonik, a new or fully digital bank recently launched in the Philippines, now enables interbank funds transfers through PESONet, an electronic funds transfer service. This service is initially available through RCBC, Landbank, PSBank and CIMB, and other PESONet member banks are expected to add the service in the coming months.

Tonik was officially launched in the Philippines in March, where it also secured over a billion pesos (roughly $ 20 million) in retail deposits in less than a month. The neobank offers “accessible, flexible and inclusive financial services, including interest rates on deposits of up to 6% per annum, and unique savings features such as its Solo Stash and Group Stash products, as well. than term deposits. “

“Enabling easier and larger interbank transfers to Tonik accounts through PESONet is just one of the many features that we are introducing into our app that I’m sure will make our customers like us more,” said Greg Krasnov, Founder and CEO of Tonik.

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Other plans are in the works, according to Tonik, launching loan offerings and expanding payment options, as the fintech space in the Philippines is constantly expanding.

Tonik is supervised by the Bangko Sentral ng Pilipinas (BSP) and deposits are insured by the Philippine Deposit Insurance Corporation (PDIC). Its unique cloud-based solution is powered by global financial technology leaders such as Mastercard, Amazon Web Services and Finastra.

Categories: fintech

Tagged As: Digital Bank, Digital Bank, Financial Technology, FinTech, Landbank, Neobank, Neobanking, PESONet, PSBank, RCBC, TONIK

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