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Crowdlending: A competitive alternative to bank credit

The global boom of crowdlending illustrates how consumers are quickly turning to fintech. In 2015, the crowdlending industry posted over $100 billion in loan issuances, the bulk of which originated from China. The first country in the Asia Pacific to establish crowdlending platforms, China now mobilises more than Europe, which pioneered crowdlending, and the United States combined. Incumbent banks have caught wind of the crowdlending phenomenon and are starting to dip their toes into this industry as either a collaborator or a competitor.

The global boom of crowdlending illustrates how consumers are quickly turning to fintech. In 2015, the crowdlending industry posted over $100 billion in loan issuances, the bulk of which originated from China. The first country in the Asia Pacific to establish crowdlending platforms, China now mobilises more than Europe, which pioneered crowdlending, and the United States combined. Incumbent banks have caught wind of the crowdlending phenomenon and are starting to dip their toes into this industry as either a collaborator or a competitor.

How will crowdlending sustain its competitiveness now that banks and regulators are responding to the trend?This TAB TV and Radio web-based consultation will discuss the following:

Panelists:


Institutions: Lufax
Country: China
People : Gregory Gibb, Foo Boon Ping
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