Peer-to-peer lending has continuously made a name of its own since it was first introduced way back in 2005. With our constant technological advancements, people’s demands and lifestyles are also evolving.
Having enough savings that suffice each person’s growing demands is quite a challenge in our present age. One disadvantage of these ongoing technological advancements is that there are people who struggle to keep up financially with the current trends.
The excessive use of social media is one driving force for the present generation to perpetually get a hold of their wants and desires. Technological advancements have also taken the people’s lifestyle up a notch. This is why Peer-to-peer lending platforms have slowly become known to people because of their convenience. This type of lending platform also has a lesser interest rate and reduced risks.
With the growing needs of every individual and every member of the family, a month’s salary might not suffice for it. Acquiring a Loan is one great way to aid your financial needs. Here at Vidalia Lending, you are guaranteed financial help in no time, so long as you pass the evaluation.
With our current economic state and the people’s growing lists of demands, experts are quite certain that in the coming year, Peer-to-peer lending will gain even more fame. Below are some of the Peer to Peer trends to look out for in 2019:
Peer to Peer spat growth in other countries
Asian countries are recorded to have enormous growth in the Peer-to-peer industry. Among the Asian countries with a staggering growth of P2P are China and the Philippines. Other countries have also started introducing this type of lending and investing platform. This is a result of the underlying attention that the P2P industry is currently facing.
Brazil is one of the countries to formally authorize Peer to Peer lending nationwide, the same goes for India. In India, to ensure the safe use of this type of financial and monetary transaction, the Reserve Bank of India (RBI) has issued guidelines that later will be strictly acclaimed into law.
Indonesia and Israel, on the other hand, have already launched Peer to Peer in their countries. Although relatively new, it has already recorded promising growth since its inception in both countries.
Banks to Step into the Peer-to-Peer Industry
Asian countries are recorded to have enormous growth in the Peer-to-peer industry. Among the Asian countries with a staggering growth of P2P are China and the Philippines. With the underlying attention that the P2P industry is currently facing, other countries have started introducing this type of lending and investing platform.
Brazil is one of the countries to formally authorize Peer-to-peer lending nationwide, the same goes for India. To ensure the safe use of this type of financial and monetary transaction, the Reserve Bank of India (RBI) has issued guidelines and later on, be strictly acclaimed into law.
Indonesia and Israel, on the other hand, have already launched Peer to Peer in their countries. Although relatively new, it has already recorded promising growth since its inception in both countries.
Banks to Step into the Peer-to-Peer Industry
Banks are now slowly recognizing the strong potential of P2P. Today several banks are attempting to break into the Peer-to-peer industry. Other digital banks have now started to compete with P2P lenders.
This shows that banks are now open to the possibilities of engaging with P2P, and this also shows that we can expect other promising opportunities with both financial institutions in the future.
Peer to Peer Popularity with Generation X and Millennials
Millennials, Gen X, and younger financiers are the common clients of Peer to Peer industry. According to surveys, these people prefer P2P over traditional loans and conventional ways of investing.
In Europe, it is recorded that over half of the P2P market is composed of the younger generation aged 22 to 37. Another important thing to notice is that these people prefer to invest in P2P than other investment platforms.
In a recent study, investors aged 18-34 are more likely to invest their money in a Peer-to-peer platform than investors over the age of 55 and above.
From Personal Loans, Salary Loans, and Business Loans to Small Business Loans, you can procure any of these types of loans in just 3 easy steps. Apply for your preferred Loan, phone call assessment within 48 working hours, pass all required documents online and wait for the decision within 1-2 days. Receive your borrowed cash in 2-3 days.
