FinovateFall 2018 / Tinkoff
Presenter Profile:
How they describe themselves: Tinkoff is a digital ecosystem of financial and lifestyle products, delivered via its award-winning mobile app and web interface. Tinkoff is fully cloud-based and branchless. Alongside traditional banking products and services, such as credit and debit cards, current accounts, bill payment and money transfers, Tinkoff offers an investment platform for individuals to trade securities with ease, mortgage service and a fast-growing slate of services for small businesses just to name a few. Currently, Tinkoff is expanding its ecosystem beyond financial services, becoming a one-stop-shop for its customers’ lifestyle needs. This includes travel and concert bookings, restaurant reservations and other concierge and entertainment services.
How they describe their product/innovation: Tinkoff Bank has become the first bank in the world to introduce a Stories feature on its mobile banking app, bringing new content to almost 1 million people, who use the bank’s award-winning app on a daily basis. While visually similar to Stories on social media apps, Tinkoff Stories differs from its Facebook, Instagram and Snapchat counterparts in that the bank rather than its users provides content. This makes it a valuable marketing and communications tool, providing Tinkoff Bank with another channel for reaching its more than 7 million customers. It also increases customer loyalty and engagement.
Product distribution strategy: Direct to Consumer (B2C)
Contacts
Bus. Dev.: Sergei Luchin, Head of Digital and Corporate Communications, s.luchin@tinkoff.ru
Press: Darya Ermolina, Communications Director, d.ermolina@tinkoff.ru
Website: tinkoff.ru/eng
LinkedIn: linkedin.com/company/tinkoff
Twitter: @tinkoff_bank
HQ: Moscow, Russia
Founded: 2006
Product Demoed: Stories for Tinkoff Mobile Banking App
Metrics: Tinkoff is the world’s largest digital-only, branchless bank by customer base, serving over 7M clients and growing. Founded in 2006 by Russian entrepreneur Oleg Tinkov, Tinkoff has been listed on the London Stock Exchange since 2013. Trading under the TCS LI ticker, its market cap has reached $3.2B by 21 Aug, 2018.
Tinkoff, which employs over 20,000 people, is an IT company with a banking license. IT professionals make up more than 70% of its HQ staff, while the company also operates nine R&D hubs across Russia. Over 2,500 so-called smart couriers deliver Tinkoff products anywhere in Russia, which spans 11 time zones. Smart couriers carry out over 20,000 deliveries per day, the majority of which are completed one day after a customer application is received or sooner.
Tinkoff customer acquisition and customer service operations are entirely cloud-based. Perhaps rather unfashionably for a fintech, Tinkoff is also highly profitable. Its 2017 net income stood at $325M and 1Q18 net income reached $92M, resulting in ROE of 70%. Tinkoff is the second largest player in the Russian credit card market with a market share of 11.7%. Tinkoff was also named the most profitable bank in Central and Eastern Europe by The Banker in 2018.
Presenters: Maxim Yevdokimov, Chief Digital Customer Experience Officer | Darya Ermolina, Communications Director
- Key Executives
Oliver Hughes (CEO & Chairman of Mgmt Board), Artem Yamanov (SVP & Bus. Dev. Director), Maxim Yevdokimov (Chief Digital Customer Experience Officer), Stanislav Bliznyuk (COO), Ilya Pisemsky (CFO), Alexander Emeshev (VP for New Products Dev.)
Key Stats
- Key Board Members
Oleg Tinkov (Founder & Chairman of Board of Directors)