Ukraine’s PrivatBank launches marketplace PrivatMarket

PrivatBank, the largest commercial bank in Ukraine, has launched its own online marketplace, called PrivatMarket. Buyers and suppliers come together on this platform that was been in the works for quite some time. PrivatMarket is aimed both at private and business clients from the Ukrainian bank.

PrivatMarket has gone live and offers buyers “the largest directory of companies in Ukraine”. They can publish tenders and other requests, while also reading reviews about potential suppliers. Sellers can post information about their company, products and services and participate in tenders and applications.

Partnering with ProZorro
PrivatBank connected to public procurement system ProZorro in November last year. “All tenders that will be held via ProZorro will be available for clients of the bank via Privat24 and the PrivatMarket site [that we will launch in December]”, deputy board chairman Dmytro Dubilet said back then.

As AIN.ua writes, PrivatMarket was initially planned to be an online aggregator that shows products from different online stores which had to start last year, but apparently the bank decided to alter the service.

In Ukraine, you have some major online marketplaces. For example, there’s Prom.ua with 61 million products and services from about 550,000 companies. And there’s Allbiz, with 1.4 million companies and 16 million customers (not just in Ukraine). “To some extent we are going to compete with them”, PrivatBank’s CIO Dmytro Dubilet, who led the project, explaind to AIN. “Although these site have a lot of services and features we won’t offer in the near future. But on the other hand, our service is easier to use and we have a serious integration with our banking services and our mobile payments app Privat24.”

About PrivatBank
PrivatBank was founded in 1992 and is now the largest commercial bank in Ukraine. In 2015, it implemented a taxi order service on its website and created a national network of automated parcel terminals, where consumers can pick up online orders. Privatbank also sells railway tickets. Since the beginning of last year the bank has sold more than 3.2 million train tickets.