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Marketplace or P2P lending has come a long way in Australia in the last five years. Most investors will be surprised by the type of borrowers and purposes of the loans, and how they are priced.
ASIC's recent report on marketplace lending provides a statistical base to study the different features of the industry. It continues to grow strongly but at a slower rate than previous years.
In the second part of this debate on marketplace lending, a market participant explains the steps taken to mitigate the risks in lending for consumer credit.
Although many people regard FinTechs as threats to banks and large incumbents, most of the new kids on the block see the value in forming beneficial relationships and cooperating rather than competing.