PrivatBank, the largest commercial bank in Ukraine, has launched its own online platform called PrivatMarket. The platform is aimed at bringing buyers and suppliers together for both private and business clients of PrivatBank.
PrivatMarket, now live, offers buyers “the largest directory of companies in Ukraine” where they can publish tenders, requests, and read reviews about potential suppliers. Sellers can post information about their company, products and services, and participate in tenders and applications.
In November of last year, PrivatBank partnered with the public procurement system ProZorro for client tenders. “All tenders that will be held via ProZorro will be available for clients of [PrivatBank] via Privat24 and PrivatMarket,” said deputy board chairman and Chief Information Officer Dmytro Dubilet.
PrivatMarket enters the market as a strong competitor to existing online marketplaces but Dubilet is confident they stand apart. “To some extent we are going to compete with them. 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,” said Dubilet.