P2P lending has seen a rash of negative press following the high-profile resignation of Lending Club’s CEO Renaud Laplanche, but that’s just a minor hurdle for this exciting new industry.
Peer-to-peer (P2P) lenders use digital platforms to connect borrowers and investors — that’s in contrast to banks which lend out customers’ deposits. BI Intelligence forecasts that UK P2P lending will grow at a 45% five-year compound annual growth rate, reaching £16 billion ($23 billion) by 2020.
In a new report from BI Intelligence, we forecast consumer, business, and property P2P lending volume in the UK, what’s driving the growth, and how unique features of the market will insulate it from the problems seen in the US market.
Here are some of the key takeaways:
- Property lending will make up the largest share of P2P activity in the UK in 2020, followed by business lending and consumer loans.
- Traditional lenders will reclaim some P2P lending volume by building or acquiring the technologies that are proving successful.
- While the general concept of P2P lending is the same, there are major differences between the UK and US P2P lending markets.
In full, the report:
- Forecasts the volume of loans UK P2P lenders will make by 2020.
- Highlights the factors that will drive the growth of P2P lenders.
- Explains the differences between the UK and US P2P lending markets.
- Details the outlook for P2P lenders in the UK.
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