State-owned Bank of Baroda plans to launch an online marketplace for its customers to offer banking and farm-related products. The state-owned bank has invited bids for a partner to supply 'digital commerce platform' to provide assistance to merchants on catalog management, purchase management fulfillment, pricing, promotion and other similar services that are required in running an e-commerce platform.
In a bid to expand its online digital capabilities, the bank is looking to strategise by creating a marketplace to cater to needs of its customers.
"The bank is seeking a partner to supply digital commerce platform and provide support for its implementation for multiple use cases as decided by the bank," Bank of Baroda's request for proposal said.
It intends to offer various kinds of banking services and farm-related products on its e-commerce platform. In the farming category, the bank proposes to offer products such as agri-crop loan, farm machinery, equipment seeds and fertilisers. As for banking services, these will also provide loan against gold, all kinds of insurance products, investment products such as government gold bonds, among others services.
The partner that Bank of Baroda is looking for its project will also use analytics as a tool to find out the customer demands, behaviour, cross-selling and sub-selling of products, digital security management, advisory management, publicity management and location-based offers.
The last date for submission of expression of interest is 26 July 2019.