Home > Latest News > Telstra And NAB Introduce Proquo Digital Marketplace

Telstra And NAB Introduce Proquo Digital Marketplace

Telstra And NAB Introduce Proquo Digital Marketplace

Telstra and NAB have teamed up to create Proquo, a new digital marketplace for small businesses.

The platform will allow users to swap or exchange their skills or services in addition to traditional monetary payments, Telstra Retail executive director global contact centres Andy Ellis advised via a blog post.

Ellis wrote that the start-up joint venture “will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other”.

Proquo is a modern interpretation of the phrase quid pro quo (meaning “this for that”), he advised.

“Small businesses and start-ups often struggle to get off the ground, especially in the early stages of operations, and our research shows that helping businesses connect, so they can build their networks with suppliers, customers and peers and exchange services, will be a great advantage for them,” Ellis wrote.

“As an example, a web designer may need the services of a brand expert or copywriter – they’ll be able to use Proquo to source a range of services from other providers, create briefs, exchange quotes, manage payments and publish reviews, all in the one place.”

Proquo was developed by NAB Labs and Telstra’s Gurrowa Innovation Lab, while, being a 50/50 joint venture, it will operate as an independent entity, NAB has advised.

“Small business is the backbone of the Australian economy – around 97 per cent of all Australian businesses are small businesses, and they provide a huge economic contribution to Australia’s current and future prosperity,” NAB executive general manager micro and small business Leigh O’Neill commented.

“Small business owners tell us they are continually looking for new ways to do business, and we think Proquo will provide them with a unique way to network and grow their business.”

Beginning a pilot phase in June, Proquo’s full launch is expected in July.

Further information can be found here.

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