"Tinkoff Bank"

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Tinkoff Bank (until January 1, 2015, Tinkoff Credit Systems) is a Russian commercial bank focused entirely on remote services, with no retail branches. The world’s largest online bank by number of customers (August 2019). The headquarters of the bank is located in Moscow.

As of October 2020, Tinkoff Bank ranked 16th in terms of assets and 14th in terms of equity among Russian banks.

As of September 2020, Tinkoff Bank was the third among Russian banks in the retail products sector in demand among the population.

In October 2021, the Bank was included in the list of systemically important credit institutions due to the growth of the Bank above the average market indicator and the size of the client base.

Since 2023, due to Russia’s invasion of Ukraine, Tinkoff Bank is under sanctions from the European Union, the United States, Great Britain, Canada, Switzerland and is disconnected from SWIFT.

Business model
Tinkoff Bank is an entirely online bank: it does not have its own branches. The main product for individuals is credit and debit cards, as well as deposits. The bank also offers the issuance of co-branded cards, targeted loans for purchases in ordinary and online stores.

In 2015, the mortgage platform Tinkoff Ipoteka was launched, where the bank, in exchange for a commission on the transaction, acted as a broker between borrowers and a pool of partner banks (Absolute, Housing Finance Bank, Vostochny, Deltacredit, Dom.rf, Metallinvestbank, SMP Bank, Uralsib and Unicredit Bank). On May 24, 2019, it was announced that the service will be closed, which will accept applications until May 31 and serve former customers until August 31. During the existence of the service, 1 million people used it, the annual amount of mortgage loans was 25 billion. Representatives of the bank indirectly called the reason for the closure of the service state banks, which due to their capabilities (in 2018 they accounted for 80% of the total mortgage market, and 56% – for the share of Sberbank) provided cheaper loans.

In October 2016, Tinkoff Bank launched the Tinkoff Investments service together with the BCS broker. In March 2018, Tinkoff Bank received brokerage and depository licenses, and on May 15, the platform was restarted on its basis. Customers online are available transactions with shares, bonds, IIS.

For individual entrepreneurs and legal entities, the bank offers cash settlement services, corporate cards, a salary project, trading and Internet acquiring, POS lending, bank guarantees and loans, online cash desks, free accounting service and website and document builders.

In 2018, the bank ranked second in terms of credit card portfolio in the Russian market. As of October 1, 2018, its share was 11.4%.

The bank widely uses automation systems to improve business processes: voice identification to protect against fraudsters and speed up the work of the call center, as well as technologies for processing large-scale calls