Press Release

Leading digital bank Tinkoff selects Finastra to power expansion into Asia

London listed and Russia based digital bank chooses Finastra’s Fusion Essence Cloud core banking solution for its future subsidiary bank in the Philippines

Singapore – 16 December, 2021Finastra today announced that Tinkoff, one of the world’s largest digital-only banks serving over 18.5 million customers, has selected Finastra’s Fusion Essence Cloud core banking solution to power its planned expansion into the Philippines. Finastra’s next-generation, cloud-native system will enable Tinkoff to bring a powerful new offering to market quickly and support rapid customer acquisition, whilst maintaining compliance with local regulations.

“To bring our award-winning digital banking services to the Philippines we needed to find a partner that could help us launch quickly, enable rapid growth, and help us to navigate the local requirements of a new market,” said George Chesakov, International Expansion Lead at Tinkoff. “Finastra’s cloud-native, open platform meets all these needs and we look forward to working together to build a revolutionary customer experience in the Philippines.”

Fusion Essence Cloud is a core banking system with fully digital end-to-end capabilities for all key banking services. With a rich catalogue of open APIs and integration with Finastra’s app marketplace and developer platform,, Tinkoff will be able to integrate tools from hundreds of developers and build a system tailored to its requirements. The comprehensive Software-as-a-Service (SaaS) offering includes upgrades, security, 24x7 infrastructure monitoring, incident management and disaster recovery services, meaning Tinkoff will be able to focus on its business goals.

Fusion Essence Cloud will be deployed out of the Microsoft Azure Southeast Asia Region (Singapore Data Center), which will allow for both low latency and data residency. With this cloud deployment, Tinkoff will benefit from a low cost of entry into the market, ease and speed of deployment, and the ability to increase business volumes and diversify its product set cost-effectively.

“Tinkoff is known for its focus on innovation, which is a value shared strongly at Finastra,” said Narendra Mistry, Chief Product Officer, Retail International Universal Banking at Finastra. “With our open platform approach, deep knowledge of the retail banking landscape in APAC and proven ability to bring new digital banks to market on time and on budget, we are excited to help Tinkoff build its renowned digital banking services in the Philippines.”

For further information please contact:

Benjamin Jun Tai
Senior PR Lead
T: +65 9058 1160

Caroline Duff
Global Head of PR
T: +44 (0)20 3320 5892

Darya Ermolina
Tinkoff Head of International Communications
T: +7 (915) 353 2690

About Finastra

Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at

Tinkoff ecosystem

Tinkoff is an online financial ecosystem centred around the needs of its customers.

The Tinkoff ecosystem offers a full range of financial services for individuals and businesses and serves over 18.5 mn customers.

With a focus on lifestyle banking, the Tinkoff ecosystem enables customers to assess and plan personal spending, invest their savings, earn loyalty programme bonuses, book trips, buy movie tickets, make restaurant reservations and much more.

All Tinkoff services are accessible via our mobile applications and on the website.

The Tinkoff ecosystem is branchless: its proprietary network of smart couriers can deliver the Company’s products anywhere in Russia in the shortest time span possible, and customer service is handled online and by call centres (both office and cloud-based). Tinkoff is delivering AI Banking strategy and makes active use of AI and machine learning technologies to streamline communications. AI voice assistant deals with 40% customers inquiries in chats with no employee involvement and resolves clients’ questions in call center for 40 seconds average.

All Tinkoff products and most of its IT systems have been developed in-house. Some 80% of the bank's HQ staff are IT specialists.

Tinkoff Bank has been added to the Bank of Russia’s list of 13 systemically important lenders. The Bank was named «The Most Innovative Digital Bank in Central and Eastern Europe» (Global Finance, 2021), «World’s Best Consumer Digital Bank» (Global Finance, 2018, 2020), Best Digital Bank in Russia (The Banker , 2020 г.), Best Digital Bank in Central and Eastern Europe (Euromoney Awards for Excellence 2021). In 2020 Forbes included Tinkoff at top-3 the Best Russian Employers.

The bank's parent company – TCS Group Holding PLC – has been listed on the London Stock Exchange and on the Moscow Exchange. 3Q 2021 IFRS net income of TCS Group Holding PLC amounted to RUB 16.5 bn. The ROE was 42.6%.