Tonik Bank
First “neobank” to secure a digital banking license in Philippines
Operating since early 2021, focus on retail banking & consumer lending
Website: https://tonikbank.com/
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“Tonik has acquired a powerful tool to manage its lending business, simplifying and accelerating the improvements we are implementing. The Taran implementation team demonstrated a high level of competency and a strong focus on client needs. This tool is a key enabler for Tonik's business growth.”
Marek Matas, Chief Risk Officer
Migration from a legacy decision engine
- Tonik Bank had been using a decision engine from a traditional vendor for several years and decided to change it for a modern “cloud born” solution fully hosted within the bank infra- structure
Why has Tonik Bank chosen TaranDM
- Taran offers a tool enabling simple, efficient and flexible control of the approval processes, including seamless integration of external data sources
- Taran showed very pro-client based approach but was also very clear, realistic and honest in terms of implementation timeline, and did not make any unrealizable promises
Implementation highlights
- The implementation of TaranDM & full production migration from the legacy infrastructure took a few months, including the launch of 2 credit products (1 configured by Taran team, 1 configu- red by Tonik Bank team themselves in TaranDM’s GUI)
- Data orchestration (workflow management) has been migrated from existing Loan Origination System to TaranDM
- Tonik Bank team can now see & control their end-to-end decisioning flow (all stages, including data source calls) in TaranDM GUI
