Perspective: Alternative Lending — Technology Principles for a Growing Market
This IDC Financial Insights Perspective looks at the global market for alternative or digital lending market. Although it is only four years old in most parts of the world, it developed in 2006 in the U.S. and the U.K. The financial crisis interrupted growth in 2008 for a few years before the main markets started growing again in 2011, after which development in other areas of the world began apace.A substantial part of the alternative lending market is taken up by peer-to-peer lending (P2PL), which is one way of lending money to unrelated individuals via an Internet platform, to obtain a better rate of return than savings held with a bank. For borrowers, P2PL is an alternative source of borrowing to that of high street banks. This short report looks at the alternative lending sector only.
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