FINASTRA has recently announced a new deal with Tonik, renewing its partnership to power Tonik's end-to-end core banking capabilities with Finastra Essence. As part of the renewal, Finastra will strengthen the partnership with the deployment of dedicated consultants to help accelerate Tonik's development and launching of new products and services.

Greg Krasnov, chief executive officer of Tonik, said: 'From the start, Essence's open architecture and sophisticated functionality have given us the flexibility to build the right technology stack for our needs — whether that was launching the bank on time and on budget or fueling our rapid growth — and the agility to develop revolutionary new products and bring them to market quickly. This has been key to our success, helping us reach one million customers in less than three years, and with new dedicated resources from Finastra we will be able to accelerate our innovation even further.'