Australia’s credit reporting system is about to be updated, and new research shows it’s past due. The current system simply doesn’t provide either lenders or borrowers with enough information.
Our region’s peer-to-peer lending sector is sharply expanding, so regulators will need to grapple with it.
Alternative sources of information about an individual’s behaviour provide new opportunities for credit assessment.
Image sourced from shutterstock.com
Kevin Davis, Australian Centre for Financial Studies
Peer-to-peer (P2P) has the potential to challenge the dominance of traditional financial institutions like banks, but involves new risks for both lenders and borrowers.
Technology is changing finance in ways Jefferson would never have imagined.
Marie Shearin Images/Shutterstock
Digital technology and pervasive access to the internet have reshaped many industries, and banking is no exception: Hampden and Co is the latest in a short but growing list of digital-only banks built…
Peer-to-peer lending, the online platforms which allow you and I to lend directly to people and businesses who want to borrow, has been hailed as disruptive technology. Cheered by savers who have been…
Could online peer to peer lenders compete with major banks?
Flickr: Alan Levine
In a recent speech, Bank of England executive director Andy Haldane has said that peer-to-peer (P2P) lending through online sites has the potential to eventually replace old-fashioned banking. It was followed…