Tinkoff Bank Launches Virtual Development Hub

Moscow, Russia — 15 November 2018.
Tinkoff Bank has become Russia’s first lender to open a  cloud-based virtual R&D hub. The Tinkoff Development Hub brings together employees from different locations across Russia and the CIS to develop banking products. Tinkoff already operates ten Tinkoff Development Hubs throughout Russia, so the new virtual development hub becomes the bank’s eleventh R&D center.

After a successful sixmonths-long pilot, the project has connected professionals from Murmansk, Astrakhan, Orel, Omsk, Krasnoyarsk, Obninsk and other locations to become full-fledged members of project development teams for iOS, Android, Windows Phone and. NET Framework. All of the virtual hub employees have been integrated in teams working with developers from Tinkoff Development Hubs in Moscow and other regions.

The virtual Tinkoff Development Hub has helped significantly expand the geography of our search for staff and to reduce the time needed to find relevant, qualified professionals. A special procedure for candidate interviews was developed to address the specifics of working remotely. The first round involved testing for technical skills, followed by an assessment of soft skills, including the ability to work remotely, communicate and show initiative. Those who passed the first round were invited for a second round of interviews, testing professional competencies.

The virtual Tinkoff Development Hub’s recruitment and hiring process differs significantly from conventional practices:

  • The Hub works without recruitment intermediaries, so all contracts are signed directly with Tinkoff.
  • The Hub operates as a standalone business unit of the Bank with a dedicated manager, HR team and other key components. Tinkoff sees cloud office developers as  full-fledged team members and plans to have long-term collaboration with them.
  • The Bank is committed to integrating virtual Tinkoff Development Hub employees into its in-house team through meetings and events at its Moscow headquarters and Sirius-based Development Hub in Sochi, as well as at the Bank’s other regional hubs.
  • Employees of the virtual development hub enjoy all the same employee benefits as do developers at Tinkoff’s other offices enjoy, , including English language courses, free business trips to dedicated forums and conferences, and more.

«Many developers long for an opportunity to work remotely for several years, which is a trend to watch. Our experience of opening regional Tinkoff Development Hubs has shown that many professionals are not interested in relocating to Moscow because they have homes, parents and families and are simply not ready for relocation. Their home towns are an environment they have grown accustomed to. Yet, they are nevertheless actively engaged in  large-scale projects using cutting-edge technologies and their salaries are comparable to those in Moscow. Now, thanks to the virtual Tinkoff Development Hub, we can hire the best of the best and are not limited to talent in big cities," said Vyacheslav Tsyganov, VP and CIO of Tinkoff Bank. ``Employees of the virtual Tinkoff Development Hub are full-fledged members of project teams working in regional hubs. To retain the atmosphere of trust and co-creation for the teams, we decided against strict practices of remote employee control, including with time tracking, screen shots and video camera photos, which are common in other companies. A  confidence-based approach and the maturity of the Bank’s development management processes provide team leaders with the relevant employee visibility, while control is exercised indirectly via commitments, task tracking and team communication.»

About the Group

TCS Group Holding PLC is an innovative provider of online retail financial services operating in Russia through a  high-tech branchless platform. TCS Group includes Tinkoff Bank, mobile virtual operator network Tinkoff Mobile, Tinkoff Insurance, and Tinkoff Software DC, a network of development hubs across Russia.

The Group was founded in 2006 by the Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.

With no retail branches, the Group serves its customers remotely via online channels and its call centre, and operates a network of over 2,500 representatives to ensure smooth delivery of its products. The network covers all of Russia and allows next day delivery to most customers.

The Group’s key business is Tinkoff Bank, Russia’s first and only direct bank offering both own brand and partner retail financial services via its Tinkoff.ru platform. The product range includes daily banking (credit and debit cards, payments, money transfers), savings, investments, loyalty programmes, travel services, SME services, mortgage platform, and insurance. With its special focus on mobile business, the bank offers mobile applications both for its customer base (Mobile Bank) and beyond it (Traffic Fines, MoneyTalk, Card 2 Card instant money transfers).

As at 1 May 2018, the bank was the second largest player in the Russian credit card market, with a market share of 11.7%. The 1Q18 IFRS net income of TCS Group Holding PLC amounted to RUB 5.7 bn, ROE grew to 68.5%.

Banki.ru, Russia’s largest financial news portal, named Tinkoff Bank the Bank of the Year 2016. In October 2016 Tinkoff Bank was named the largest independent global direct bank by Frost & Sullivan. In 2015 and 2016, the Global Finance magazine named Tinkoff Bank as the Best Consumer Digital Bank in Russia. In 2016, the bank also won Global Finance’s Best Integrated Consumer Bank Site award and was named the Best Digital Bank in the CEE by Euromoney. The bank’s mobile application was recognised as the best in Russia by Markswebb Rank & Report for three consecutive years in 2014, 2015 and 2016, and by Deloitte for four consecutive years from 2013 to 2016.