Tonik secures USD 100 million in Consumer Deposits within 8 months of launch

Tonik, the Philippines’ first digital-only neobank, continues to blaze a trail in the local banking industry by surpassing P5B (US$100M) in consumer deposits. The development comes within only 8 months of the neobank’s launch of commercial operations and comes on the heels of Tonik’s prior achievement of another first in the banking history in the Philippines by securing P1B (US$20M) in consumer deposits within a month of going live last March. 

Read more: PRNewswire