Russia’s most successful incumbent and challenger retail banking players have added mobile phone services to their product offerings in a bid to ramp up returns.
Online financial services provider Tinkoff Bank and state-controlled giant Sberbank are currently rolling out mobile virtual network operators (MVNO), after launches late last year. Both are using the network and infrastructure of Tele2, Russia’s fourth-largest mobile operator.
Sberbank’s mobile service is targeted at the lender’s existing clients, who comprise around half of all retail customers in Russia.
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