Technology News & Trends

The global peer-to-peer (P2P) lending market is expected in a report by Transparency Market Research (TMR) to find players following the trend of building tactical alliances to stretch their presence in small business loan divisions. This could be evidenced by the partnership between Prosper Marketplace, Inc. and OnDeck announced in the recent past. In order to improve its product portfolio, Prosper Marketplace also purchased American Healthcare. Using the strategy of collaboration with reliable investors, LendingClub Corporation is observed to target startups. Offering innovative solutions focused on the student demographic could be another trend observed in the market. TMR prophesies the global P2P lending market to expand at a 48.2% CAGR during the completion of the forecast tenure 2016-2024. The market could be worth a US$897.85 bn by the final forecast year. By end user, small business is expected to account for a larger share of the market while rising at a 48.8% CAGR. By ...

Money lending scenarios have witnessed extensive improvements in the past few decades, mainly as most companies are integrating latest technologies to provide highly efficient and seamless solutions. Widespread advancements in technologies that govern the processes associated with money lending are majorly driving the global peer-to-peer lending market to witness fabulous growth. Moreover, with the low cost of associated operations, several users prefer choosing peer-to-peer money lending processes compared to other loaning scenarios. In addition, a burgeoning student population all over the globe too is making the market grow at a rapid pace. This is mainly due to the fact that many students seek loans at cheaper interest rates provided by money lending organizations than banks and other similar financial institutions. Lastly, with a rising awareness regarding closing off personal debt as fast as possible, many people are resorting to solutions such as peer-to-peer money lending...