Tinkoff Bank starts nationwide biometric data collection

Moscow, Russia — 31 October 2018.
Tinkoff Bank has started collecting customer data for the purposes of the Key Rostelecom Unified Biometrics System (UBS). The data is captured across all Russian regions where the Bank’s representatives work.

The UBS is a digital platform developed by Rostelecom following a request from the Bank of Russia and the Ministry of Digital Development, Communications and Mass Media. Any Russian citizen can now register with the system, which will use a combination of a photo and voice profile for registration purposes. The registration is handled by the Russian banks that joined the project. Registered participants are able to purchase products and services remotely from any bank with no need to visit a bank’s office or show a passport, as Key Rostelecom digital profiles are used for customer identification.

The system was launched on 1 July 2018, and Tinkoff Bank registered its first biometric data on the same day. From 30 October 2018, registration in Key Rostelecom via Tinkoff is available in all Russian regions covered by the network of the bank’s representatives. After a simple application procedure, a bank representative arrives at the customer’s convenience with all necessary equipment. The digital platform is hosted on Rostelecom’s secure cloud infrastructure. As it is transmitted to the UBS, user data is protected by Russian-built encryption algorithms.

Oliver Hughes, Chairman of Tinkoff Bank’s Management Board, said: «Tinkoff Bank has been running a branchless model for over a decade now. To be able to do this, we have built a network of our own smart couriers that deliver our products country-wide. The remote biometric identification takes us one step further towards the vision where customers are able to receive any financial service without visiting their bank’s office. We are confident that Key Rostelecom deployment will foster the development of the entire financial sector through better availability of financial products, improved customer experience and higher competition.»

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.