Tinkoff Bank joins the Marketplace project

Moscow, Russia — 18 October 2018.
On 18 October 2018, Moscow Exchange, Tinkoff Bank and other market players taking part in the Finopolis forum of innovative financial technologies in Sochi, signed a cooperation memorandum on joint development of the Marketplace project.

The idea of launching the marketplace was initially brought forward by the Bank of Russia, along with other market players, in 2017. The Marketplace project will enable individuals to view, compare and purchase online, from any part of the globe, the products offered by Russian banks, brokers, managers and insurance companies.

The Marketplace platform will be operated by Moscow Exchange responsible for identifying users, defining their risk profile and executing transactions online. Registration of financial transactions will be handled by National Settlement Depository (NSD), which will guarantee confirmation of marketplace-based transactions. Banki.ru and Sravni.ru web portals, UNICOM, Specialised Depository Infinitum and Fins. Money will serve as customer showcases for the project collecting offers from financial organisations and sharing product information with the customers.

The memorandum was signed by the heads of the above organisations, as well as of Tinkoff Bank, Ak Bars Bank, Bank Zenit, Gazprombank, Otkritie Bank, Promsvyazbank, Pochta Bank, Rosbank, Russian Agricultural Bank, Sviaz-Bank, SKB-Bank, Sovcombank, URALSIB Bank, CB Center-Invest, and Expobank.

As the first step (Q1 2019), customers will have access to bank deposit services, including online opening of deposits using biometric identification. At this stage, up to 20 credit institutions can be connected to the platform.

Going forward, retail customers will have access to such instruments as mutual fund units, initial offerings of federal loan bonds (OFZ-n), as well as insurance and credit products.

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.