Tinkoff Bank named biggest independent global direct bank


TCS Group Holding PLC (TCS LI) (the «Group»), Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that Tinkoff Bank has been named the largest independent global direct bank, according to a report by Frost & Sullivan, an international consulting firm.

Frost & Sullivan analysed online and direct banks across the globe and compiled a comprehensive study and global ranking by number of customers. Tinkoff, as an unaffiliated and totally branchless bank, came out on top of this ranking in terms of number of customers.

Oleg Tinkov, Founder of Tinkoff Bank, commented, «In many countries, the FinTech phenomenon is only just starting to gain ground, with traditional banking models being gradually replaced by online-only or partially online financial services players. However, in Russia several banks have been very active in applying new approaches and technologies to their market. Tinkoff Bank has been spearheading this change, launching its purely online, branchless model since the bank’s inception in 2006.

«Our bank has gone from being an outsider in banking to a sector leader in terms of technology and customer service — and this is just the beginning. We constantly work on new proprietary and partner solutions, implement new channels, and attract new customers. Tinkoff Bank is already servicing five million people and counting. We are proud to be the biggest independent, digital bank in the world.»

Frost & Sullivan analysts looked at both independent direct banks and affiliated banks with the latter combine online and traditional brick-and-mortar services. Frost & Sullivan’s research was based on corporate reports and banking sector ratings, as well as interviews with the leading market players.

As well as being named the largest independent global direct bank Tinkoff Bank also ranked first among online banks, including affiliated, in Russia and CIS.

Other findings of the report included:

  • In 2015, the global direct banking customer base stood at approximately 110 million;
  • The global market is expected to grow by an average of 8% over the next five years, considerably outpacing traditional banking.
  • The top 10 largest direct banks account for 50% of all customers, with the top 5 servicing 33% of the total customer base.

The research covered banks that:

  • Hold a valid banking licence.
  • Work with international payment systems such as Visa and MasterCard.
  • Have a reliable, secure and user-friendly web/mobile interface.
  • Have no more than five branches.
  • Offer higher interest rates on deposits, lower credit rates or have other benefits compared to traditional banks.



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