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Report: Alior Bank launches financial intermediary Bancovo

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Report: Alior Bank launches financial intermediary Bancovo

Alior Bank SA launched Bancovo, an online financial intermediary platform that provides customers with access to lending products from other banks and loan companies, Parkiet reported March 6.

The bank invested 30 million Polish zlotys into the project, which is the first financial marketplace in Poland, the newspaper noted.

In addition to Alior, the platform currently offers services provided by three other partners, and their number will grow to between 12 and 14 by the end of 2018, according to the report. It is expected that loans worth between 2 billion zlotys and 3 billion zlotys will be sold via the platform in 2020, Parkiet said.

In the future, the Bancovo platform will also offer loans for micro-companies, mortgage loans, as well as insurance and investment products. The creators of the project will also strive to launch the platform on foreign markets, the news report noted.

As of March 6, US$1 was equivalent to 3.37 Polish zlotys.