RCS - TCS Grp Hldg PLC - TCS to Launch Seven Development Hubs Across Russia <Origin Href="QuoteRef">TCSq.L</Origin>

TCS HoldingAnnouncement

09/12/2016 12:00

RNS Number : 4682R
TCS Group Holding PLC
09 December 2016
Tinkoff Group to launch seven development hubs across Russia
Moscow, Russia- 9December 2016. TCS Group Holding PLC (TCS LI) (the "Group"), Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announcesthat in the coming two years it intends to launch seven development hubs across Russia. The first cities to host those will be Saint Petersburg, NizhnyNovgorod, Yekaterinburg, Novosibirsk, Rostov-on-Don, Saratov and Vladivostok, to be followed by others later.
The hubs will help:
 source software developers locally across the whole country,
 rapidly build up capacities to match our growing ambitions,
 leverage time zones to intensify production cycle,
 reduce time to market for new products.
The hub's staff will focus both on products for Tinkoff.ru, and on R&D beyond the Bank's core business.
Each hub is expected to employ 50-150people depending on the location.
Oliver Hughes, Chairman of Tinkoff Bank's Management Board, commented: "We are growing at a fast pace and launching a host of new services as part of out Tinkoff.ru financial supermarket. To implement our ambitious plans, we need to boost our R&D capabilities. This is why we are now turning to regional centres. We hope this project will help us cut time to market for our new products."
For enquiries:
Tinkoff Bank
Darya Ermolina
Head of PR
+ 7 495 648-10-00 (ext. 2009)
media@tinkoff.ru

About the Group
TCS Group Holding PLC is an innovative provider of online retail financial services operating in Russia through a high-tech branchless platform. The Group has also developed a "smart courier" network covering almost all cities and towns in Russia which allows next day delivery to many customers. 
Tinkoff Bank's product range includes credit, debit and prepaid cards, deposits, co-branded cards, agent-based mortgage products and investment services. With its special focus on mobile, the bank offers mobile applications both for its customer base (Mobile Bank) and beyond it (Traffic Fines, MoneyTalk, Card2Card instant money transfers).
As per its five-year strategy, the Group has the ambition to become a financial marketplace, offering both own brand and partner products.
As at 1November 2016, the bank was the second largest player in the Russian credit card market, with a market share of 9.9%. The Group's 9M2016 IFRS net income amounted to RUB7.3bn.
In October 2016 Tinkoff Bank was named the largest independent global direct bank by Frost & Sullivan. In 2015 and 2016, the Global Finance magazine named TinkoffBank as the Best Consumer Digital Bank inRussia. In 2016, the bank also won Global Finance's Best Integrated Consumer Bank Site award and was named the Best Digital Bank in the CEE by Euromoney. The bank's mobile application was recognised as the best in Russia by Markswebb Rank&Report for three consecutive years in 2014, 2015 and 2016, and by Deloitte for four consecutive years from 2013 to 2016. 

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