Tonik delivers differentiated CX and EX digital-first services to unbanked Filipinos using Genesys Cloud CX

Tonik, the first neobank in the Philippines, has partnered with Genesys, a global cloud leader in AI-powered experience orchestration, to provide Filipinos with digital-only, flexible, and next-generation financial solutions at their fingertips.

In photo: Tonik’s operations engine – where the magic happens.

With consumer interest in new and alternative banking services on the uptick, Tonik is leveraging Cloud CX to offer hassle-free, innovative, and exceptional banking experiences for its customers and pioneering the next-generation financial platform. Tonik is the first neobank in the country to secure a digital bank license from the Bangko Sentral ng Pilipinas. The bank endeavors to reach more Filipinos, especially the unbanked, by offering personalized digital banking services and easy access to financial products.

Powering digital banking in the Philippines

Tonik has been able to ensure the delivery of fast and efficient customer service across Southeast Asia by using cloud solutions. Its innovative approach to penetrating the modern channels of social media and Know Your Customer (KYC) is focused on providing seamless and contextual Customer Experience (CX) services and has proven to be a key differentiator. By implementing the all-in-one Genesys Cloud CX platform, Tonik can connect with customers across multiple channels, and it plans to utilize conversational Artificial Intelligence (AI) for its product FAQs and inquiries, heighten security levels and improve product marketability overall.

“Our values are aligned with Genesys - it is about customer centricity and providing empathetic experience across all customer touchpoints. Our quest to build the next-generation financial platform and bring about an innovative culture to the banking system, has made remarkable progress. The Tonik-Genesys partnership will continue to explore more automation opportunities to enable us to deliver exceptional customer, employee experience, and drive efficiencies,” said Tonik’s Group COO, Tomasz Borowski.

“Our partnership with Tonik demonstrates our commitment to helping organizations scale personalized, end-to-end experiences through our Genesys Cloud CX platform. Beyond offering quality products and solutions, enhanced customer experience is a key differentiator in the digital financial servicing business. We are glad to be a part of Tonik’s journey and assist them in delivering people-centric experiences and helping foster long-lasting relationships with their customers and strategic business outcomes,” said Simhua Lui, Vice President and General Manager Asia at Genesys.

Amid the sudden COVID-19 lockdowns, Tonik, like many companies, faced higher business costs and reduced operational efficiencies. Further, the bank encountered difficulties in implementing new processes for its hybrid workforce, cloud security, virtual employee engagement, and transactions. The bank leveraged Genesys Cloud CX to help grow a business that is built purely via digital platform from scratch. It used the all-in-one cloud solution from Genesys to operate a virtual platform, and hybrid work setup seamlessly and securely. Through the Genesys Workforce Engagement Management tool, Tonik’s employees had a single platform and intuitive performance dashboards for training, educational resources, and motivational activities.

Tonik could also create data-driven experiences, handle low-level tasks, and seamlessly transfer interactions to live agents when needed. These led to a 60 percent reduction in customer wait time. Furthermore, the platform also made it easier for Tonik to automate and scale within minutes, even without IT support. Tonik agents could also review and respond through a single window system along with Nova.ChatsConnector, which helps integrate Facebook and Viber feed into the centralized omnichannel agent experience.

Overall, Tonik experienced zero downtime and disruption. It was able to build all customer journeys and workflows within only five months of using Genesys solutions. In less than a year after Tonik’s commercial launch, the digital bank achieved its goal of a unique customer base, which now stands at 120,000. Its pool of contact center agents expanded from 10 to at most 200.

Looking to the future

Tonik aims to introduce next-generation customer interaction for Filipinos through AI and machine learning with predictive problem-solving capabilities. Both companies are currently collaborating to execute the digital bank’s roadmap for 2024 which focuses on scaling its loan portfolio with an all-digital touchpoint process via a mobile app. It is currently planning the implementation of conversational voicebots and unified bots across phone, web chat, mobile messaging, and smart speakers.