TCS Group (Tinkoff bank’s parent company) has launched a mobile app and card for managing personal finances on smartphone in the European market.

RBC reports that in the nearest future the app will feature investment products.

Vivid Money service was launched in Germany in partnership with local SolarisBank, which provides its licensed platform for online banking, and Visa. The company also plans to enter other European Markets this year.

TCS Group is the main investor of the project. The news that Oleg Tinkov’s group planned to invest EUR 25m to found a fintech company in Europe broke in February 2020. The group did not rule out more investment in the future.


TCS Group founder Oleg Tinkov said in an Instagram post he was ready to fund the new project personally and noted it might compete with Revolut, the British fintech startup with Russian founders.


Vivid Money was founded in Berlin in 2019 by two former top managers of Tinkoff Bank: Artem Yamanov, who used to work as Senior Vice President for Business Development, and Alexander Yemeshev, former Vice President for Product Development. In total, the Vivid Money staff includes 130 people.

The Vivid Money app allows users to open banking accounts in over 100 currencies, make payments and transfers, withdraw cash, and get up to 10% cashback for purchases. The account comes with a digital Visa card, which can be granted in physical format as well.

The users can request standard or premium service for the account. For the standard, the service will be free, and in premium, it will be provided for EUR 9.90 after a three-month free access. There are no commission fees for transfers and currency exchange.  In the nearest future the app will feature investment products, so the clients will be able to invest in the shares of U.S. and European companies as well as in the Exchange-Traded Fund (ETF).

According to Oleg Tinkov, he tried to purchase Revolut and negotiated with co-founder Nikolay Storonsky, but the talks did not get results. In October 2018 Tinkoff Bank announced the launch (in Russia) of a similar service, which allows clients to use a debit card to make payments in 30 currencies and avoid high conversion fees.

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