Trailblazing digital bank Tonik has announced its expansion to Cebu, bringing its full suite of customer-centric and innovative products to this vibrant region as it underscores its vision to enhance financial inclusivity and provide accessible banking solutions to more Filipinos.

With the expansion, customers in Cebu can now access the complete range of Tonik’s products and services, including the highly anticipated Shop Installment Loan, previously available only in Luzon retailers.

The Shop Installment Loan is a standout feature in Tonik’s suite of lending products, enabling customers to effortlessly purchase their dream home appliances and gadgets with the lowest monthly payments.

Tonik founder and president Greg Krasnov has stressed the bank’s excitement about expanding into the Queen City of the South.

“Our goal has always been to democratize banking and provide innovative solutions that cater to the everyday needs of Filipinos. With the rollout of the Shop Installment Loan in this beautiful region, we believe we are taking a significant step towards achieving that goal,” said Krasnov.

Tonik’s expansion into Cebu is also a part of its broader strategy to revolutionize the banking industry in the Philippines.

With Cebu being the second largest market for financial services in the country, the development is expected to push the bank’s growth and sustain the growth of Tonik's Point of Sale (PoS) network.