Greg Krasnov, the founder and chief executive of Tonik, said according to the his estimates the retail savings market in the Philippines is worth $140 billion and the Southeast Asian nation also presents a $100 billion opportunity in unsecured consumer lending. TechCrunch could not independently corroborate these market estimations. “In the Philippines, where over 70% of the population remains unbanked, we are observing a rapid jump in consumer demand for digital banking and digital transfers since the start of the year,” he said.

https://techcrunch.com/2020/06/15/tonik-raises-21-million-to-launch-digital-bank-in-the-philippines/