Founder of Russia’s largest online retailer Wildberries, Tatyana Bakalchuk has announced her company is negotiating with several banks to create a joint fintech product.

The founder of the marketplace has made the announcement in the interview with Forbes Russia at “Retail: Change or Die” forum.

“After we acquired the license, we are still in negotiations with many banks. Most likely, it will be some kind of a joint product,” Bakalchuk said, adding that she cannot name yet the banks Wildberries is considering as potential partners.

At the same time, Bakalchuk says that her company “does not indulge in the illusion that it will now create a cool fintech.”

This February, Wildberries acquired Standard-Credit Bank to develop existing services and launch new ones for buyers and entrepreneurs. The main owner and CEO of Wildberries, Tatyana Bakalchuk holds 100% of bank’s shares.

“Integration of the financial institution will help us further develop the existing payment service and increase the overall quality of service of buyers and sellers - in particular, in terms of improving the speed and convenience of settlement with the platform for them,” Wildberries said at that time.

Bakalchuk has also told Forbes Russia that although Wildberries sets global goals carefully, it does have them. “I say that a global goal should be set high and unattainable. I will not voice it, but you see what I mean - we are setting ourselves a new big goal and we will try to get there,” she said.

She has added that her company is not going to attract investors and conduct an IPO.

The Wildberries founder has highlighted “rapid growth” of e-commerce in Russia and added that the way Russia’s market is now companies “must run in order to stay standing”.

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