Tinkoff Bank to launch a mobile virtual network operator
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 the launch of its own mobile virtual network operator (MVNO).
The MVNO will use Tele2 Russia’s network and infrastructure to provide mobile services for both current Tinkoff’s customers and others; and will have its own network code, number range and SIM cards which will be delivered across Russia via Tinkoff’s smart courier network.
Oliver Hughes, CEO of Tinkoff Bank, said: «We have recently been seeing finance and telecoms increasingly converging with each other lately. The launch of our own MVNO is a logical and timely addition to our range of products and services. This is part of our strategy to build a fully-fledged ecosystem based around our online platform Tinkoff.ru.
The MVNO will leverage the core strengths and expertise of both our financial retail business and our best in class customer service to deliver great value for both our current customers and future mobile customers. It will significantly contribute to our value proposition. And we will even further improve customer experience to retain customers and build up our loyalty base. Furthermore, some cost synergies are expected by reducing servicing expenses. This new business arm is set to make yet another non-credit revenue pool for our business.»
George Chesakov, Tinkoff Bank VP, Head of MVNO project, said, «Ten years ago, we launched Tinkoff Bank, which successfully weathered the economic downturn and tough competition to evolve into Russia’s most technology-intensive bank and the world’s largest online only bank by customer base. Today, we are about to launch an MVNO in an industry that’s even more competitive. And yet, just like ten years ago, we see a new opportunity in the market to tap into. With our extensive expertise, we are well-positioned to create a mobile network operator and make it successful by keeping its customers happy.»
The date when the new mobile service will be available for customers will be announced in due course.