Around the world
Forbes published an article examining recent moves by US-based investment advisor Third Point to capitalize on the world of marketplace lending. Billionaire Dan Loeb remarked, “As the origination and securitization of assets have become more difficult for larger financial institutions, smaller technology‐driven platforms have filled the void.” His firm expects this arena to soar amid the pro-business spirit of the Trump administration.
FinancialBuzz shared findings which show a rise in marketplace lending activity in the fourth quarter of 2016. The author writes that the “Quarterly Consumer Credit Demand Index” reported an approximate 12.4% increase in personal loan applications for the period relative to the same time in 2015.
Digital Journal released a piece discussing how technological innovation has driven the spread of global P2P interfaces. The author cites a report from Transparency Market Research which acknowledges that “the opportunity in the global P2P lending market was worth US$26.16 bn in 2015. Analysts predict that the market valuation will reach US$897.85 bn by 2024.” In addition to technology, emerging economies are likely to be key drivers of this growth in the coming decade.
Bloomberg released an article reviewing the long-term plans of financial software company Misys to enter the peer-to-peer lending world. The author indicated that the CEO believes traditional banks have fallen behind FinTech startups that offer better lending solutions for those seeking personal loans.
Satellite PR News released information from a Peer-to-Peer Lending Market report projecting an industry compound annual growth rate of 53.06% by 2020. The report also explores the competitive landscape among vendors, consumer spending patterns and emerging challenges to growth.