Breaking News
Tonik Introduces Insurance
Tonik, the trailblazing digital bank in the Philippines, is thrilled to announce its newest strategic partnership with prominent life insurance company Sun Life Grepa Financial, Inc. (Sun Life Grepa). This transformative collaboration aims to enhance the financial well-being of the companies’ valued customers.
The focal point of this groundbreaking partnership is the introduction of Payhinga, an inclusive bundle service designed to offer customers financial security in the face of life’s uncertainties.
Payhinga, a credit life and disability insurance product, will complement Tonik’s existing loan offerings and will be readily available to customers applying for loans.
During the ceremonial signing of the memorandum of agreement between the two companies, Tonik Country President Long Pineda expressed her enthusiasm, stating, “The partnership with Sun Life Grepa will significantly expand our suite of products, and insurance is a highly sought-after addition our customers have been requesting.”
Payhinga will give customers access to life and disability insurance with coverage up to 120% of their loan amount, along with a two-month payment holiday where customers can push back their upcoming loan installments in case of financial strain.
Richard S. Lim, President of Sun Life Grepa, echoed this sentiment, saying, “The partnership with Tonik will enable us to reach a broader client base and fulfill our mission of delivering insurance protection to the underserved.”
In today’s ever-changing landscape, access to reliable and affordable banking, financial services, and insurance is essential. Financial institutions are tirelessly innovating to provide customers with enhanced services. The introduction of products like Payhinga represents a significant step forward, offering customers a two-in-one solution that combines loan access with comprehensive coverage in a convenient and cost-effective package.
People In This Post
- Nuvo and Avalara Launch AI Integration to Eliminate Tax Compliance Gaps and Accelerate B2B Customer Onboarding Read more
- Lumin Digital Unveils Lumin Solaire, an AI-Native Intelligence Layer Embedded In Its Compounding Growth Platform Read more
- Sturgis Bank Partners with MANTL to Transform Business and Retail Account Opening Across All Banking Channel Read more
- Redbridge: Visa’s Commercial Enhanced Data Program (CEDP) – What Merchants Are Really Facing Read more
- TSAM London: FE fundinfo on Mastering Data and Unifying Operations in Asset Management Read more
Preventable Filing Delays Cost P&C Insurers $72.8 Million per day, ZestyAI Analysis Finds
A wide-ranging analysis of P&C filings by ZestyAI has found that the regulatory delays costing insurers tens of millions of dollars each day are predictable, compounding, and largely preventable.
LexisNexis Risk Solutions Launches AI-Driven Location Intelligence for U.S. Home Insurance Carriers to Improve Property Risk Assessment
LexisNexis® Risk Solutions announced the launch of LexisNexis® Location Intelligence for Home, an AI-driven predictive model
Medical Assurance Company of Mississippi Selects OneShield Market Solutions to Power Core System Modernization
OneShield announced that the MACM has selected OneShield Market Solutions as its full-suite core platform
New Platform From Resilience Brings Portfolio-Level Cyber Risk Visibility to Complex Organizations
Resilience announced the launch of Resilience Arc, a new cyber risk management platform purpose-built for multi-entity organizations
Ascend and Honor Capital Announce Agreement to Merge, Creating the First Complete Financial Operations Platform for Insurance
Ascend and Honor Capital entered into a definitive agreement to merge to will be the industry's first fully vertically integrated financial operations platform
Pro Global Strategically Strengthens Its Offering in Latin America to Support Growth and Increasing Operational Complexity in the Insurance Market
Pro Global announces a strategic strengthening of its value proposition in Latin America, consolidating a range of specialised services already within its portfolio
Go.Compare Launches ChatGPT App to Help Consumers Find a Great Deal on Their Insurance
Go.Compare has launched its price comparison services via an app on ChatGPT – using AI to search car, van and home insurance providers
Nuvo and Avalara Launch AI Integration to Eliminate Tax Compliance Gaps and Accelerate B2B Customer Onboarding
Nuvo Technologies, the AI-native customer-to-cash platform, today announced an integration with Avalara, the agentic AI leader in global tax and compliance. The integration connects Nuvo’s AI-powered onboarding with Avalara’s exemption certificate management and real-time tax calculation capabilities—enabling B2B suppliers to handle credit applications and tax compliance in a single, unified experience. The result is a single workflow where suppliers can approve customers and ensure tax compliance at the same time.
Lumin Digital Unveils Lumin Solaire, an AI-Native Intelligence Layer Embedded In Its Compounding Growth Platform
Lumin Digital, the Compounding Growth Platform for banks and credit unions, today unveiled Lumin Solaire, an AI-native intelligence layer embedded across its platform. The announcement was made at Lumination, the company’s annual client conference, where Lumin is showcasing its platform strategy and product roadmap.
Sturgis Bank Partners with MANTL to Transform Business and Retail Account Opening Across All Banking Channel
Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a digital sales and service platform provider for financial institutions in the U.S., today announced a new partnership between MANTL, an Alkami solution team and leading provider of loan and deposit account opening technology, and Sturgis Bank, a community bank serving Michigan through 16 branches, to transform its account opening experience for business and retail customers. Through this partnership, Sturgis Bank will modernize onboarding across all physical and digital banking channels, reinforcing its commitment to delivering a seamless, efficient, and customer-centric experience while expanding accessibility and accelerating digital growth.
Redbridge: Visa’s Commercial Enhanced Data Program (CEDP) – What Merchants Are Really Facing
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
TSAM London: FE fundinfo on Mastering Data and Unifying Operations in Asset Management
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Reap and TerraPay Partner to Expand Local Payout Corridors Globally
Reap, the stablecoin-native global payments and financial platform infrastructure for businesses, today announced a strategic partnership with TerraPay, a global money movement company, to expand local cross-border payouts through direct access to domestic clearing systems worldwide.
Digital Assets Clearing Center Secures US$10 Million Funding for International Market Infrastructure
Digital Asset Clearing Center (DACC.HK), a next-generation financial market infrastructure for the tokenized economy, today announced US$10 million in funding from strategic partners including Conflux, Transaction Technologies Limited (“TTL”) and Global InfoTech. Traditional bank transfers continue to dominate the US$214 trillion cross-border payments market, but tokenized finance offers an alternative to slow settlement cycles, high transaction costs, fragmented data systems and regulatory barriers. Digital Asset Clearing Service offers seamless connections to the world's leading payment systems including Cross-Border Interbank Payment System (CIPS), blockchain networks and compliance infrastructure delivering end-to-end Clearing-as-a-Service (CaaS) for financial institutions.