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Russian digital bank Tinkoff taps Finastra for Asian expansion

December 17, 2021

Tinkoff, which currently serves more than 18.5 million customers, plans to open a subsidiary bank in the Philippines as part of its wider Asian expansion strategy.

Reports that the firm was seeking a banking licence in the country came to light back in August. It’s believed the bank’s offshoot in the Philippines would have an initial capital of $40 million.

George Chesakov, international expansion lead at Tinkoff, says the bank was looking for a partner that could “help us launch quickly, enable rapid growth, and help us to navigate the local requirements of a new market”, and that Finastra’s platform “meets all these needs”.

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