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Business / Finance

"People should not feel flawed, if he has 100 thousand dollars" interview 03.03.2019 at 21:04

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Why premium branch in "Tinkoff Investment"? Why are the Russians ashamed to go into private banking? And due to the sale of shares of public companies people pay for products?

— Originally Tinkoff Bank associated with the consumer card business. But now you are an active player in the market of all types of retail banking. One of them — the mortgage, which your Bank acts as an agent for other credit institutions. How many requests are coming to you in the service of "Tinkoff mortgage" and what of those requests coming from your clients?

Let's start with the fact that "Tinkoff mortgage" is Russia's first service of a mortgage loan solely online. We work in partnership with nine banks, whose balance sheets and mortgage loans. Every month we collect more than 50 thousand new mortgage applications, and this figure is constantly growing. The same service is actively used by our clients and users "from the street". In 2018 the percentage of customers Tinkoff Bank, who applied for a mortgage through our service amounted to 40%.

is Like a separate platform for over two years you have also a service of "Tinkoff Investments". How many clients use it?

— the Story of "Tinkoff Investment" began in 2016, then, we have worked in partnership with BCS. In March last year Tinkoff Bank received broker's license, and in may of 2018, we restarted the project and began to open new brokerage accounts on a platform of "Tinkoff Investments" on their own. Now through brokerage service "Tinkoff Investments" opened more than 350 thousand accounts.

— And on which indicator you aim in the foreseeable future?

— We want a couple of years we had a million customers. But, of course, much will depend on the state of the banking market and economy as a whole, and on our activity in this area.

— "Tinkoff Investment" is a division in Tinkoff Bank, not a separate legal entity?

— We did for "Tinkoff Investments," a separate legal entity. Don't see the point. In addition, all banks generally issue a broker's license for yourself, even if you have a separate legal entity for this business segment. "Tinkoff Investment" is one of the lines of business in the ecosystem "Tinkoff".

— Bonus rate in "Tinkoff Investment" is part of developing you right now the premium service at the Bank or separate?

— Now we separate these two concepts: the premium banking services (for holders of cards of Tinkoff Black Edition) and the premium service under the "Tinkoff Investments". Premium investment product presented on tariff "Premium" inside the platform "Tinkoff Investment" is an independent service. While it can be accessed by invitation only.

— What proportion of the customers of "Tinkoff Investments" — the customers of "Tinkoff Investment Premium"?

— Less than one percent — due to the fact that the format is closed.

— But you will be able to open it in the future?

— We will offer this premium functionality to all our customers in the spring of 2019. Expect that in the next year this club format will expand to several thousand users.

— In this connection there is a need to run premium branches of business in the Tinkoff Bank, for your customers, even with "simple" cards and so more profitable than normal banking customers from the segment of the mass market?

— We began to receive more and more requests from customers for personal service, access to Lounges and other premium services. It became obvious that the Tinkoff Bank has customers with a higher level of income than holders of cards of Tinkoff Black. So last year in the ecosystem "Tinkoff" appeared debit and credit card Tinkoff Black Edition and Tinkoff ALL Airlines Black Edition for the affluent segment, recently launched metal card Tinkoff Black Edition with contactless payment (PayPass). A great need for the investment of funds from wealthy clients has also become evident — and we have created a premium tariff for brokerage platform "Tinkoff Investments".

— What is this a premium rate to clients?

— Advanced brokerage capabilities. In this case, the users of the Premium can be owners as normal card Tinkoff Black, and premium — Tinkoff Black Edition. Premium customers of "Tinkoff Investment" can make all the operations inside mobile apps. With such clients has a team of personal managers and analysts are available on chat mobile application at any time. The product line in the premium rate is very wide (more than 10 thousand of securities, structured products, etc.). Service within such service paid, the subscription rate is 3 thousand rubles per month.

— That is, it turns out some analogue of p rivate banking , but more accessible to the common consumer?

— Yes, I think so. But you have to understand that our premium customers are not customers of private banks in the classic sense. To become a traditional private banking client, you must come to him with the sum of one million dollars. We look for clients that have several hundred thousand dollars. I mean assets. It is obvious that this segment of customers is not enough attention. Imagine: they come to a typical account Manager within private banking and say, "I am financially educated, secured, but I need more options I just heard a regular customer, I earned the money". But private-Bank he can give nothing: offer to buy coli or Euro bond at 200 thousand dollars. The person who comes to the Bank with 100 thousand dollars, and feels very uncomfortable in such a situation. That is, he seems to want 100 thousand dollars to invest, but to the private banking segment, he does not hold. For those clients who have several hundred thousand dollars, we launched the premium service in "Tinkoff Investments".

— But sometimes in private banking you can not only place a few million units on the account, but "take turns" as a regular customer. That is, to provide some momentum on the account and get the benefits of premium service...

— In theory it is true, but in practice is far from reality. I visited all the banks, which is private banking. In these offices you feel as if you're some kind of wrong and not met expectations. Uncomfortable when you ask: "And how much money you have?" Well here to say that you don't have a million dollars? And this view Manager when you told him that brought only 100 thousand dollars... In those eyes read: "What? Well, the money just... Okay, let's try something for you to think. Here coli, that mutual Funds". And this is all I can buy, no private banking.

That's the attitude we want to remove. People should not feel flawed, if he has 100 thousand dollars. He did great, he made a lot of money, we must give him the opportunity to feel private. We are, in fact, invite him in "Tinkoff Investment" products private Bank (over the counter products, structured notes, etc.), but in smaller sizes, with smaller lots and they all can be made through the mobile phone, which in classical private banking, no.

— There is a catch: the classic private banking clients prefer at least sometimes to communicate with your personal Manager from eye to eye. And you have no offices.

— Yes, in classic private banking, socialise in the office, coffee a drink. But the problem is that there is no automation of processes. There is even investment into automation, because it is cool when the Manager works with the client directly. But if you want to know what is included in your portfolio, or buy something, or even the price of a paper to learn, you will have to call or email your Manager. Even in those banks where there are private office at private banking customers, nothing in this study can be done. And we can be.

Private offices, we will not, it is true. Like conventional offices. We do not need. However, the personal managers "Tinkoff Investments" can come to the client in the cafe or in his office, that is, live communication has not been canceled. We don't "aim" to that customer who really really want to come to the office and that appreciates the presence of the office. Our client is a rather busy person (business owner, senior Manager, investor), which is more convenient, to a meeting with the Manager took place in his office.

— in General, it is now focused on the development strategy of "Tinkoff Investment"?

In General, we are trying to bring to market the maximum number of investors.

Because Russia is not as such a mass culture of investing. We want to bring to our brokerage platform people that kept the money on Deposit, or on current accounts or at home "under the pillow" we introduce them to exchange them to have another way to earn. For this we are trying to make the product simple, clear and accessible.

— But that's not really a positive thing. Thanks to such services on the securities market are those people who are not particularly well versed in this market, moreover, who does not want to understand it, but want a consistently high income. These clients lose money...

— Is the right question. In fact, however, the client cannot be fooled. If you just give him an investment product, and say, "Try it, you're on your own", such a history of "not flying". He uses the service a day or two, sees that figure its return "flushed", that is, gone down, gets upset and removes money from the account, puts them back on the Deposit or "under the pillow". In our experience, investment suggestions only work when you are trying to give the customer a large number of additional options and features that help him make investment decisions that are mostly generating income.

we had a funny story. One customer called and told me that standing at the checkout in the "Auchan", sold shares of Apple and can not proceeds of these securities to pay money for the products (because money hasn't come in yet due to the small time delay). We decided the question of the client and helped him to implement such a mechanic, despite the fact that the situation was far from standard. This story perfectly captures the perception of our clients of service of "Tinkoff Investments". For them it is a convenient virtual wallet, which, in principle, cool. Freedom is the main value.

— can You estimate what proportion of the customers of "Tinkoff Investment" comes in, tries, understands that this is not their story, and returns to classic banking products or "under the mattress"?

— People generally do not close fully account at "Tinkoff Investments", they can just take the money or leave very small amount in the account. These people — around 10% of all clients of the service. That is 90% one way or another to buy and sell securities through our brokerage platform. Of purchase frequency we also now happy.

Interviewed by Anna DUBROVSKAYA,