Alfa-Bank co-owner Petr Aven and Tinkoff Bank founder Oleg Tinkov have debated the future of bank offices at the annual financial innovations forum Finopolis.

Aven is certain that the offices will stay, because people need live communication, while Tinkov is of the opposite opinion: he thinks that lack of bank offices is the model for the future.

Vedomosti reports that according to Aven, it was not his first discussion with Tunkov about the idea that in the future banks will have no offices or physical presence. “I was and am convinced that people need live communication, not only computers and phones. The offices will be required. The example of digital bank Tinkoff, which started opening stands in trade centers to sell credit cards, proves my point,” said Aven.

Tinkov insists his bank does not and never will have offices. The stands Aven mentioned were an experiment for sales of virtual operator Tinkoff Mobile, he explained. “We said “no offices” 13 years ago and we believe it is the right model, the model for the future,” Tinkov underlined.

Aven pointed out that despite the lack of offices Tinkoff employs more people than Alfa-Bank: 25,000 against 23,000 respectively. “It is a small bank with extended staff,” he joked. Tinkov confirmed the figures, adding “it is not something to be proud of”. Later he clarified that Tinkoff actually employs 28,000 people and 3000 out of them are bankers, while the rest fulfill service functions. According to him, Tinkoff plans to reduce the number of employees by introducing AI solutions that will implement routine functions.

Tinkoff does not and never did have offices. The clients can contact the bank via mobile app, website or phone. Alfa-Bank has 791 offices in Russia and other countries.

The partner of Fintech section is