Tinkoff Bank to become the first vendor bank for the Unified Biometrics System

Moscow, Russia — 19 October 2018
Rostelecom and Tinkoff Bank have sealed a Unified Biometrics System (EBS) cooperation deal at Finopolis-2018. The agreement was signed by Ivan Berov, Digital Identity Director at Rostelecom, and Alexander Emeshev, Vice President, New Products Development at Tinkoff Bank.

According to the agreement, Tinkoff Development Hub is to become a biometric data vendor for the Unified Biometrics System developed and operated by Rostelecom. Tinkoff will be in charge of voice recognition for remote customer identification.

From the very beginning, Rostelecom designed the Unified Biometrics System as a multi-vendor platform open to any biometrics vendors at any stage as long as their algorithms perform according to the set criteria. As the Unified Biometrics System’s operator, Rostelecom regularly tests vendor solutions and selects the best of them.

«The biometric voice recognition algorithm for the EBS is our proprietary solution created by Tinkoff Development Hub, which already has ten centres operating across Russia. Our technology efficiency is comparable to the global leaders’. In fact, we decided to develop our proprietary biometric solution when we realised that foreign products cannot fully satisfy Tinkoff Bank’s voice biometrics demands. Eventually, Tinkoff has developed the competences that can well compete with those of the leading players in the segment, which has paved the way for Tinkoff to become the first vendor bank for the EBS. We have been using the voice biometrics in our call centre since 2017, reducing the customer identification time 4x, from 60 seconds to just 15. For the EBS integration, we have customised the biometric algorithm and further improved its efficiency," Alexander Emeshev, Vice President, New Products Development at Tinkoff Bank, comments on the agreement.

All vendors that have their solutions used in the Unified Biometrics System meet the government regulators' and system operator’s requirements, and are uniformly reliable. Tinkoff Development Hub’s solution testing has been a success and the product is ready to be implemented into the Unified Biometrics System.

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.