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Tinkoff to launch capital management company

Tinkoff Bank Group plans on launching the Tinkoff Capital Management company in the 4th quarter of this year. The company will offer clients exchange funds for investments, with an entry threshold of just RUB 50. Funds will be tied to assets in both rubles and dollars, although the exact list …

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Russia’s National Financial Association issues first roboadvisory accreditation

Russia’s National Financial Association, a self-regulatory organization, has issued its first official accreditation to VTB Capital Investment under a program to provide individual investment recommendations to users via roboadvisors. Roboadvisors help clients form individual investment portfolios of stocks, bonds and index fund shares. After filling out a questionnaire, the roboadvisory …

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3 ways financial institutions in Kazakhstan can interact with BigTechs

New players, so-called BigTechs, are entering global financial markets and capturing new market niches by taking advantage of their technological innovations and huge customer bases. As these companies slowly begin their penetration into Kazakhstan, financial institutions in the country will need to choose one of three paths forward: Competition – …

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Ozon launches card for customers

Internet company Ozon has announced the launch of its own card. The MasterCard World PayPass card serves as a payment instrument as well as gives users access to a loyalty program that includes cashback (in the form of points) for purchases made anywhere in the world. The card is linked …

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Kazakhstan’s anti-monopoly committee investigating Google

Kazakhstan’s Ministry of Economy has announced the launch of an anti-monopoly investigation into Google. The announcement follows a number of complaints received after the internet giant began to block the ads of companies offering non-official repairs for equipment such as mobile phones and computers. All information is currently being studied …

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Tinkoff-Yandex merger: benefits for both

A proposed merger between Yandex and Tinkoff is being heralded by many as a move that will greatly benefit both sides. For Tinkoff, they will gain access to an expanded customer base, and Yandex will benefit from the ability to integrate credit and financial services into its vast digital ecosystem.  …

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Kazakhstan’s mobile finance future

Telecom companies and banks benefit from cooperation in the field of mobile finance, especially in regard to transfers and payments. In Kazakhstan, mobile finance is only at the beginning of its journey; however, there is enormous potential as mobile finance transactions amounted to KZT 65 billion last year.  Most of …

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The heads of Yandex, Tinkoff and Severstal discuss technological developments

The St. Petersburg International Economic Forum hosted a discussion with the heads of Yandex, Tinkoff and Severstal, during which the three discussed ideas on the development of technologies. Highlights of the discussion are presented below, with more details available here. Artificial intelligence – artificial intelligence will not change human functions, …

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How Sberbank is transforming from a bank into an online ecosystem

Russia’s Sberbank has a plan to create a fully-functional online ecosystem that combines banking services and non-financial services by 2024. To do this, the bank has been spent more than RUB 60 billion on a number of efforts. These include working with established companies, buying out companies and creating their …

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Sberbank to launch music streaming service?

Russian bank Sberbank is planning to launch a music streaming service in the near future. Currently, the bank is looking for a partner and is reportedly in negotiations with Yandex, Mail.ru and Zvooq. While representatives of all the aforementioned companies declined comment, Sberbank has reportedly been eyeing the streaming market …

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The state of small business lending in Russia

Russia has seen a boom in the number of smaller businesses in the last few years. Unfortunately for them, traditional lenders are, by and large, still focused on providing services to medium- and large-sized businesses. While some smaller businesses are able to find financing through traditional lenders thanks to special …

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Impending B2B payment revolution in Russia

As is the case around the world, business-to-business (B2B) payment solutions in Russia are lagging behind business-to-consumer (B2C) solutions. In fact, B2B transfers are still a relatively painful process in Russia that can take up to 3 days, often resulting in downtime and lost revenue. The slow pace at which …

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New Sberbank service protects against non-fulfillment of obligations

Sberbank has announced a new service for corporate clients that will guarantee the fulfillment of a supplier’s obligations or give a full refund. The service also works in the other direction, guaranteeing suppliers a full payment for delivered products/services. The so-called ‘Safe Transaction’ service is integrated with Sberbank Business Online …

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Tinkoff launches free financial accounting service for entrepreneurs

Tinkoff has launched a free financial accounting service for entrepreneurs to analyze and monitor the state of their business. The service allows users to: plan, group and analyze cash flows, calculate the payback period of investments, calculate loan repayment periods, determine salary levels a business can afford analyze unprofitable business …

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Expert opinions on Kyrgyz fintech and e-commerce market

E-Commerce and FinTech Hackathon 2019, organized by KG Labs and financially-supported by GIZ’s Trade Facilitation in Central Asia project and Interbank Processing Center, was held June 14-16, 2019 in Bishkek, Kyrgyzstan. We asked its mentors how they assess the state of the FinTech and e-commerce market in Kyrgyzstan. Here’s what …

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BFC takes part in E-commerce and FinTech Hackathon 2019

BFC experts took part in E-Commerce and FinTech Hackathon 2019, which was held June 14-16, 2019 in Bishkek, Kyrgyzstan. During the event, participants were given 54 hours to turn their ideas about e-commerce development and cross-border trade into working projects. Evaluation of the projects as well as technical assistance was …

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