The evolution of P2P lending

Jefferson Duarte, Stephan Siegel and Lance Young

Chapter 9 in Research Handbook on Alternative Finance, 2024, pp 181-212 from Edward Elgar Publishing

Abstract: Peer-to-peer (P2P) lending emerged as an early innovation of the fintech revolution. As an online platform, it has served as a marketplace to allocate capital from a group of individual lenders to retail borrowers without a traditional intermediary, such as a bank. The initial promise of P2P lending was that it would “democratize” the capital market and that elimination of traditional intermediaries would reduce borrowing costs, increase the availability of credit to borrowers who previously had little access to credit, and provide new investment opportunities, in particular to retail investors. The online nature of P2P lending has provided academic researchers with rich and fascinating data that has stimulated a large, interdisciplinary literature around fundamental questions concerning borrowing and lending decisions as well as around the evolution of P2P lending as a new fintech product, both in the US and internationally. In this chapter, we survey this literature.

Keywords: Asian Studies; Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2024
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