P2P Lending

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					P2P Lending
Product Code: VR0858MR
Published Date: October 2012
TABLE OF CONTENTS
1      Executive Summary .............................................................................................................................. 6
2      Introduction ............................................................................................................................................ 8
2.1    Overview of the Report ............................................................................................................................ 8
2.2    Understanding P2P Lending.................................................................................................................... 9
2.3    Summary ............................................................................................................................................... 11
3      Players in Operation ............................................................................................................................ 12
3.1    Zopa UK ................................................................................................................................................. 12
3.2    Prosper – USA ....................................................................................................................................... 15
3.3    Lending Club – USA .............................................................................................................................. 17
3.4    Kiva – USA ............................................................................................................................................ 20
3.5    MicroPlace – USA.................................................................................................................................. 23
3.6    Duck9 – USA ......................................................................................................................................... 25
3.7    IOU Central – Canada ........................................................................................................................... 27
3.8    Smava – Germany ................................................................................................................................. 28
3.9    MYC4 – Denmark .................................................................................................................................. 30
3.10   TrustBuddy ............................................................................................................................................ 31
3.11   Kokos - Poland ...................................................................................................................................... 32
3.12   iGrin – Australia ..................................................................................................................................... 32
3.13   PPDai – China .........................................................................................................
				
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Description: The concept of P2P lending started in around 2005, but growth was initially very slow and it took time for people to understand the deliverables and advantages of social lending. The P2P lending market experienced a remarkable boom in 2007, when a range of websites came into the picture and lifted the community lending business. P2P lending is often said to be more economically efficient because it eliminates the middleman, and passes the cost savings on to its end users: borrowers and lenders. As intermediaries between borrowers and lenders (depositors), financial institutions take a spread between the interest they pay on deposits and the interest they receive on loans. A commonly held view is that a key driver of the P2P lending market is consumer disillusionment with the banks’ perceived lack of customer advocacy, and hidden or unfair charges. Investors find that banks can be very rigid with their credit criteria and that they also lack the sense of individual treatment.
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