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)