Peer to peer lending is going to revolutionize the lending platform in a couple of years. This platform promises a return in a very short time. It mutually benefits lenders and borrowers with healthy returns by eliminating any middlemen.
Peer to peer lending can be identified as a disruptive technique. Some people are not sure. A good example of disruptive technology is the internet. In the beginning, the Internet was mostly a source of information for academic people or researchers. For more information about peer to peer lending platforms you can check here now .
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The following points that need to be kept in mind about peer to peer lending are:
- It is an online marketplace for lenders and borrowers.
- The benefit of using an online platform is that it makes P2P lending easier to afford than borrowing money through traditional financial institutions.
- Reserve banks will soon regulate peer to peer lending platforms.
- The peer to peer lending platform cares for borrowers as much as they do for investors. Acting themselves as a peer by connecting two "peers" in a lender and a borrower, these platforms are more holistic and consumer-focused than traditional financial institutions.
Many believe that the current decade is all about financial technology. We have seen innovations like virtual currency in the financial industry. The virtual currency has been taken as a revolution in the financial sector and has already been established in the financial market. Therefore, an innovation like P2P lending should not come as a surprise to people interested in the financial market.