According to The Boston Consulting Group (BCG), only 13 digital banks out of 249 operating around the world bring profit, Russian “Izvestia” writes, noting that it makes 5% of the total number.

Majority of the profitable digital banks is in the Asia-Pacific region. Ten such organizations operate there, among them are, for example, Chinese WeBank and Afbank, Japanese SonyBank and Jibun Bank as well as Korean KakaoBank.

In the European region only two profitable credit organizations have been revealed – British OakNorth Bank and Starling Bank. Among the Russian banks “Tinkoff” is in the top.

No such format company has succeeded to make profit in the United States.

According to BCG, the successful digital financial organizations have several common features. The profitable banks make very strong proposals in terms of retail lending. The other unifying factor for the leaders is either the support from the large companies with significant experience in doing business or the existence of ecosystem.

Besides, to record success it is critically important to use existing assets, rapid scaling of digital transactions and maintenance of the progress over time, the study says. The latter is especially significant in conditions of growing competition with traditional banks which started to invest in client experience and development of ecosystems as well. In the long term digital credit organizations should focus on flexible management and scalable technology.

“We see all these conditions among the leaders, including Russian “Tinkoff” which not only entered the list of world’s 13 profitable digital banks but also has become one of the leaders with its outreach ensuring 9% index with its services,” BCG noted.

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