Philippines Digibank Tonik Taps FinScore’s Alternative Credit Scoring Solution

Philippines digital bank Tonik has selected FinScore, a local alternative credit scoring company to process loan applications for its Filipino customers.

FinScore’s AI-powered telco data credit scoring solution will be integrated with Тonik’s digital banking platform.

The credit score will be based on data that draws upon over four hundred telco variables such as data and voice usage, top-up patterns, location, and SIM age, among others.

FinScore said that its scoring models has powered the telco credit scores of over 3.5 million Filipinos and over US$ 500 million worth of loans have been disbursed in the Philippines.

Previously, Tonik had teamed up with solutions provider CRIF for the automation of its loan origination and collection systems.

After receiving a banking license from Bangko Sentral ng Pilipinas, the neobank is set to launch its new digital banking platform in the first quarter of this year.

Tonik will be offering a full range of services including transactional savings accounts and time deposits with attractive interest rates.

Greg Krasnov, CEO and Founder of tonik CRIF
Greg Krasnov

Greg Krasnov, Tonik Founder and CEO said,

“Operating in a digital-savvy market with huge smartphone penetration, FinScore’s telco data technologies will enable us to reach and provide loans to more Filipinos.


Doing so is key to forwarding our mission of accelerating financial inclusion in a country where majority of the population are underserved and unbanked due to lack of innovation-driven alternatives.”

Christo Georgiev, FinScore Country Manager and Chief Strategy Officer said,

Christo Georgiev, FinScore’s Country Manager and Chief Strategy Officer
Christo Georgiev

“Credit Scoring For All. This is our commitment since we started FinScore. And the word “all’’ encompasses not only the unbanked market but also institutions just like Тonik that aspire to reshape how Filipinos experience saving and borrowing money with their innovative, all-digital banking services.


Our partnership addresses the undeniably growing demand for fintech solutions and boosts financial inclusion.”

Featured image: FinScore

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