A primer on peer-to-peer lending: immediate financial intermediation in practice

Wolfgang Pointner () and Burkhard Raunig
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Wolfgang Pointner: Oesterreichische Nationalbank

Monetary Policy & the Economy, 2018, issue Q3/18, 36-51

Abstract: Peer-to-peer (P2P) lending markets are young but fast-growing. Furthermore, P2P lending competes with traditional bank lending. Several questions arise: How big are fintech credit markets currently? How do the most common P2P lending models work? What are the risks and who bears them? How do platforms try to mitigate information asymmetries between lenders and borrowers? Who is using P2P platforms? Will P2P lending replace traditional bank lending in the future? This article addresses these issues and summarizes the empirical research on the topic, with a particular focus on developments in Austria.

Keywords: fintech; peer-to-peer lending; crowd funding; bank lending (search for similar items in EconPapers)
JEL-codes: G20 G23 G28 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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