Tonik Becomes First Digital Bank in the Philippines to Integrate Generative AI with ChatGPT
Tonik, a pioneering digital bank in the Philippines, has once again showcased its innovative edge by incorporating Generative AI featuring ChatGPT into its operations. This strategic move solidifies Tonik’s commitment to staying ahead of the curve in digital banking advancements while providing exceptional services to its customers.
As the first digital bank in the Philippines to leverage Generative AI, particularly ChatGPT, Tonik has revolutionized its customer service experience. Currently, nine out of ten customer queries are handled through Tonik’s in-app chat feature, with Generative AI autonomously resolving 75% of these queries without human intervention. This implementation has not only boosted the efficiency of Tonik’s customer care team but also allowed them to focus on more complex issues.
To support this AI integration, Tonik has established a dedicated team to train and monitor the AI daily, ensuring accurate responses to customer queries and concerns. This move has resulted in a significant increase in productivity for the bank, contributing to its path towards profitability.
Anticipated cost savings of over USD 20 million in the next three years will be reinvested to introduce lower fees, charges, and innovative new services for Tonik’s customers. Additionally, Tonik is the only digital bank in the Philippines offering three consumer loan product groups, catering to its onboarded customer base of 1.5 million Filipinos.
With a doubling of loan production run-rate and loan portfolio growth in the past 12 months, Tonik has set itself apart from other digital banks in the sector. By leveraging AI-powered tools to enhance operational efficiency, Tonik continues to deliver exceptional customer care through innovation.
Tonik’s Chief Operating Officer, Tomasz Borowski, highlighted the bank’s focus on enhancing service quality while managing operational costs effectively, as customer interaction surged by 2.5 times. Chief Growth Hacker, Mila Bedrenets, emphasized the importance of providing customers with a seamless and enjoyable banking experience, ensuring that they can easily access assistance when needed.
In a rapidly evolving digital landscape, Tonik’s adoption of AI technology underscores its commitment to meeting the evolving needs of customers and delivering top-notch banking services.
