June 5, 2019
In recent years, peer-to-peer (P2P) lending technology has taken root in Asia, particularly in China, Singapore, and Indonesia, and the P2P market is continuing to expand significantly. The business model allows lenders and borrowers to link up via an online platform. This disrupts the traditional banking model that requires a financial institution to act as an intermediary. For individuals, this means that underbanked populations are able to secure loans where previously a lack of credit history or little access to financial service institutions posed considerable obstacles.