The largest Polish e-commerce platform and the largest bank in the country began cooperation. The aim is to make modern integrated financial services for millions of Allegro users.
New partnership: Allegro and PKO BP
According to unofficial information obtained by the service I'm sorry., PKO Bank Polski and Allegro signed last week letter of intentwhich opens the way for strategical cooperation. Its object is to make financial services integrated into the purchasing platform – alleged Embedded finance.
In practice, this means that Allegro users will be able to benefit from financial solutions built straight into the purchasing ecosystem, without the request for external applications or banking services.
What is Embedded Finance?
Concept Embedded finance refers to financial services integrated with non-financial products and servicessuch as online shopping. The client no longer has to log into the bank – transactions, loans, instalments or accounts can be handled straight from the e-commerce platform.
Allegro has long developed this kind of functionality. On the platform are already available:
- Allegro Pay – allowing purchases with deferred payment,
- Allegro Finance – payment service tool.
Until recently, there was besides Allegro Cash – bank account prepared in cooperation with Aion Bank. However, the task has been completed, and users were terminated. According to current information, this service may come back – but already in cooperation with PKO BP.
PKO BP seeks millions of customers in e-commerce
Cooperation with Allegro is part of a broader strategy PKO Bank Polskiwho had previously announced the desire Acquire 1 million fresh customers. 1 way to accomplish this was to grow the sector e-commerceusing Strategic Partnerships.
Allegro, with base over 13 million active users per month, is simply a natural channel to scope a wide scope of possible customers.
No more cooperation with Aion Bank. fresh phase with PKO BP
Draft Allegro Cash was 1 of the first examples of the full integration of banking services into the purchasing platform in Poland. The account offered by Aion Bank operated for a limited time, but for unknown reasons, the service was withdrawn from the market. Customers received termination of contractsAnd Allegro started looking for a fresh partner.
All indicates that the fresh supplier of banking solutions will become PKO BP – a strong institution, consumer assurance and advanced technological capacity.
Potential benefits for users
Integrated financial services created by Allegro and PKO BP can bring a number of real benefits to users:
- easier access to credit and instalments without leaving the purchasing platform,
- modern accounts and payments straight linked to the Allegro account,
- faster returns and settlementswhich can increase trust in the platform,
- loyalty benefits for users actively utilizing PKO BP services.
For PKO BP, it is simply a chance for reaching younger client groups and build relationships with individuals who have so far chosen fintech or mobile banking.
What's next?
For now, only signing letter of intent, which means that both parties have undertaken to engage in talks and cooperation. Project details have not yet been officially disclosed, but much indicates that work on circumstantial products is already underway. If the cooperation is final, Allegro and PKO BP can present one of the largest embedded finance initiatives in Central and east Europe.
It is worth adding that market trends advance specified solutions. Consumers anticipate quick, simple and integrated financial services, and banks and e-commerce platforms increasingly join forces to meet these expectations.
Continued here:
Allegro and PKO BP jointly introduce fresh financial services
