FinTech is also referred to as Finance technology, which is rapidly grow to business revolution the business service provides sector and disrupting. They introduce a new way to deliver a FInTech brings finance and technology. Peer-to-peer is one of the most important, when the lender is connected to borrower through an online by removes a traditional financial institution. They have already grown in the United Kingdom and the United States, but early stage in Australia.
Peer-to-peer lending work
Different business model to bank and other institutions followed by peer-to-peer lenders. They lend directly to an own balance sheet, Deposit from clients and issues loans. The income spread between the interest paid and received from outstanding loans.
Peer-to-peer lending in the US
In the past 5 years lending has expanded to grow 156.8% to reach US $1.2 billion. Both small business and consumers have introduced and required to register as the securities and exchange commission.
Peer-to-peer lending in Australia
Totally estimate a US $2.3 billion and US $12.0 billion as compared to the United Kingdom and the United States. They captured some investors, including Rupert Murdoch, James Packer etc are shareholders in section.