Kyiv, Ukraine (May 28, 2020) – Today OTP BANK, TASCOMBANK, ACСORDBANK, UKRSIBBANK, Raiffeisen Bank Aval, and PRAVEX BANK signed agreements to join the LIGA.Money platform, a unique, free for consumers online-service that allows for comparing loan offers provided by Ukrainian banks.
The website money.liga.net, will also provide independent advice to consumers on making reasonable financial decisions. The online platform will be launched publicly in June 2020 by the Ligamedia holding company, the USAID Financial Sector Transformation Project, and partner banks.
“We salute banks that have already joined LIGA.Money or are in the process of joining it. This is a step towards openness in consumer lending,” emphasized Robert Bond, Chief of Party for the USAID Financial Sector Transformation Project. “The willingness of these banks to disclose complete information on the total cost of loans to customers through an easy to understand, comparative tool is a transformative action. Their joining is an indication of a major change in Ukrainian retail bank lending and how banks treat customers.”
LIGA.Money will provide consumers with accurate, reliable and user-friendly information to compare different retail loan products from banks, specifically personal loans, car loans, mortgages, and credit cards. The information on loans will be uploaded to the platform directly by banks according to an agreed upon methodology. For the first time, Ukrainian consumers will be able to do real comparison shopping for loans based on the real annual interest rate – the key indicator of the loan cost.
“LIGA.Money’s creditmeter will allow consumers to save time, money and stress by comparing bank credit offers on-line without any need to visit bank branches, which is very helpful in the times of COVID-19,” said Dmytro Bondarenko, CEO of Ligamedia. “Even more important, LIGA.Money users can be confident in the creditmeter’s relevance for them - the offers they see are real, and the comprehensive and fair comparison methodology was developed by the USAID Financial Sector Transformation Project.”
USAID is the world's premier international development agency and a catalytic actor driving development results. USAID has partnered with Ukraine since 1992. For additional information about USAID, you may also visit its website: https://www.usaid.gov/ukraine or its Facebook page at: https://www.facebook.com/USAIDUkraine.
About the USAID Financial Sector Transformation Project
The USAID Financial Sector Transformation Project supports financial sector reform in Ukraine and provides assistance in the following focus areas: consumer lending, legal and regulatory reform, increasing access to finance in the non-bank financial sector; expanding digital finance solutions; and promoting better involvement of the people in financial markets and financial consumer protection. For more information about the USAID Financial Sector Transformation Project and its activities, please visit FST’s information page at: https://www.fst-ua.info/en/ and its Facebook page at: https://www.facebook.com/FSTProject.
Ligamedia is an independent media holding of Ukraine, which is an integral part of the LIGA Group. Today, it combines a number of information and communication and advertising projects. Its main project is the LIGA.net portal, a leader among Ukrainian Internet-audience, one of the top news websites in Ukraine, and the best business online-media outlet. According to the Institute of Mass Information survey findings, LIGA.net is a consistent leader in maintaining journalistic standards among the largest online media outlets. You can get access to the portal at: www.liga.net and its Facebook page at: https://www.facebook.com/liga.net.