Transfers to Tonik now available via PESONet

MANILA,Philippines,April 27,2021 -- The Philippines' first neobankTonik is ramping up the convenient banking features on its game-changing app through tying up with PESONetto enable safe and secure electronic fund transfers to Tonik account from other banks. The announcement comes on the heels of Tonik's highly successful public launch in March 2021,which saw it secure over 1 billion pesos(US$20M)in retail deposits in under 1 month - a historical record for any new bank launching in the Philippines.

Transfers to tonik now available via PESONet

Tonik users are now able to transfer funds from a PESONetparticipating bank to their accounts.This service is initially available via RCBC,Landbank,PSBank and CIMB,with other PESONet member banks expected to add the service in the coming months.

"The response we got when we introduced the app last month was overwhelmingly positive. It's a testament to the fact that Filipinos are thirsty for a financial enabler that cuts the red tape,makes banking less complicated,and lets their hard-earned money work better for their future," saidTonik CEO and Founder Greg Krasnov. "Allowing easier and bigger interbank transfers to Tonik accounts through PESONet is just one of several features that we are introducing in our app that I'm sure will make our customers love us more."

Long Pineda,President of Tonik Digital Bank,Inc,Tonik's regulated bank subsidiary,shares her excitement on this development: "This is another chapter in our journey of growth and driving financial inclusion in the local banking industry. By making in-demand banking transactions such as interbank transfers safer and more seamless with PESONet,we hope to encourage more Filipinos to manage and maximize their finances withTonik in the #neonormal."

In line with this,interbank transfer services via PESONet will be available with more banks in the coming weeks. Further,the neobank plans to launch its loan offers and further expand its payment options in the coming months. Customers are encouraged to stay updated on the latest developments fromTonik via their mobile app,official website and Facebook page.

Tonik is on a mission to revolutionize the way money works with anew all-digital way of bankingoperatingon a highly secure digital banking platform. Theneobankoffers accessible,flexible,and inclusive financial services,includingindustry-leading deposit interest rates of up to 6% per annum,anduniquesavingfeatures such asits Solo Stash and Group Stashproducts,as well as Term Deposits.

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,andFinastra.

Learn more aboutthis story and other updates from Tonikviahttp://tonikbank.com.  

About Tonik

Tonik is the first digital-only neobank in the Philippines,providing deposit,payment,and card products to consumers on a highly secure digital banking platform. The neobank operates on the basis of its own bank license issued by the Bangko Sentral ng Pilipinas.Tonik is led by a team of retail finance veterans who have previously built and scaled multiple retail banks and fintechs across the global emerging markets. It is backed by top international venture capital funds,including Sequoia India and Point72.Tonik operates out of hubs in Singapore (HQ),Manila,Chennai,and Kyiv.

For media contact:

Kristel Artates

pr@tonikbank.com