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TCS Group Holding PLC (TCS)
TCS Group Holding PLC: AHML and Tinkoff Bank create e-platform for mortgage
loans
31-Jan-2018 / 17:28 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
AHML and Tinkoff Bank create e-platform for mortgage loans
Moscow, Russia - 31 January 2018. The Agency for Housing Mortgage Lending
("AHML") and Tinkoff Bank have signed an agreement to set up a joint venture
to offer mortgage lending on a special electronic platform. The agreement
was signed by Alexander Plutnik, CEO of AHML, and Oleg Tinkov, Chairman of
the Board of Directors of Tinkoff Bank.
The platform was designed to enable online acquisition of mortgage customers
using Tinkoff Bank's technology platform. It will support automated mortgage
approvals based on AHML standards, execute loan documentation and issue
mortgage loans, enable online registration of property transactions with the
Federal Service for State Registration, Cadastre and Cartography, and can be
integrated with the systems of other Russian mortgage lenders.
This online mortgage lending platform will also enable borrowers to service
mortgage loans, including making monthly payments. Customers will be able to
request bank statements and other mortgage documents, including insurance
contacts, and seek mortgage servicing advice.
In this joint effort, AHML will focus on creating mortgage products,
underwriting, online registration of property transactions and loan
origination by the agency's bank. Tinkoff Bank, in turn, will be responsible
for setting up the platform, promoting the service and providing 24/7
customer support.
"An increasing number of Russians are looking to use mortgage loans to buy a
home. We need to put in place an up-to-date solution to make this process as
user-friendly and easy-to-use as possible. Tinkoff Bank is a fintech leader
with an extensive track record in developing innovative online services.
Together, we will build a platform to propel mortgage origination in Russia
to a whole new level," commented Alexander Plutnik.
"We are delighted to combine AHML's e-transaction experience and Tinkoff
Bank's customer acquisition expertise to harness this synergy and bring a
new, promising mortgage player to the Russian market. This is a huge step
forward for Tinkoff Bank. While in the past Tinkoff Mortgage served as a
platform to partner with banks for a better customer experience, we will now
be able to make a difference across the entire mortgage origination
process," said Oleg Tinkov.
For enquiries:
Tinkoff Bank Tinkoff Bank
Darya Ermolina Larisa Chernysheva
Head of PR
IR Department
+ 7 495 648-10-00 (ext.
2009)
+ 7 495 648-10-00 (ext.
2312)
d.ermolina@tinkoff.ru
ir@tinkoff.ru [1]
About Tinkoff Bank
Tinkoff is Russia's first and only direct bank with over 5 mln customers.
The bank was founded in 2006 by the Russian entrepreneur Oleg Tinkov.
TCS Group Holding PLC, the bank's holding company, has been listed on the
London Stock Exchange since October 2013. In addition to the bank the Group
includes mobile virtual operator Tinkoff Mobile, Tinkoff Insurance, and
Tinkoff Software DC, a network of development hubs across Russia.
With no retail branches, the bank serves its customers remotely via online
channels and its call centre, and operates a network of over 1,800
representatives to ensure smooth delivery of its products. The network
covers all of Russia and allows next day delivery to most customers.
The bank offers both own brand and partner retail financial services via its
Tinkoff.ru platform. The product range includes daily banking (credit and
debit cards, payments, money transfers), savings, investments, loyalty
programmes, travel services, SME services, mortgage platform, and insurance.
With its special focus on mobile business, the bank offers mobile
applications both for its customer base (Mobile Bank) and beyond it (Traffic
Fines, MoneyTalk, Card 2 Card instant money transfers).
As at 1 August 2017, the bank was the second largest player in the Russian
credit card market, with a market share of 11.5%. The 1H 2017 IFRS net
income of TCS Group Holding PLC amounted to RUB 7.6 bn, ROE stood at 46%.
Banki.ru, Russia's largest financial news portal, named Tinkoff Bank the
Bank of the Year 2016. In October 2016 Tinkoff Bank was named the largest
independent global direct bank by Frost & Sullivan. In 2016 and 2015, the
Global Finance magazine named Tinkoff Bank as the Best Consumer Digital Bank
in Russia. In 2016, the bank also won Global Finance's Best Integrated
Consumer Bank Site award. In 2016, Tinkoff Bank was named the Best Digital
Bank in the CEE by Euromoney. Its mobile application was recognised as the
best in Russia by Markswebb Rank & Report in 2014, 2015 and 2016, and by
Deloitte for four years in a row in 2013-2016.
Tinkoff Bank is a member of the deposit insurance system (the system
guarantees each depositor of member banks a payout of RUB 1.4 mln on
deposits and current accounts, including interest income).
ISIN: US87238U2033
Category Code: MSCM
TIDM: TCS
LEI Code: 2534000KL0PLD6KG7T76
Sequence No.: 5172
End of Announcement EQS News Service
650299 31-Jan-2018
1: mailto:ir@tcsbank.ru
(END) Dow Jones Newswires
January 31, 2018 11:28 ET (16:28 GMT)
