| With the help of the internet which is much more convenient,fast and transparent than the traditional ways,Peer-to-Peer(P2P)lending platform was born at the right time when small and micro credit was boosted with the high demand of capital flow in middle and small-sized enterprises and the high threshold of bank's loan.P2P lending platform is a supplement to the traditional financial system.Over the past few years,UK's online lending has rapidly increased while USA's online lending is largest in terms of revenue and establishment.P2P lending companies have established a strong track record across multiple areas critical to the success of both its investors and customers.P2P online platforms are defining a new category of customers,that is emerging middle class,and they are using advanced and proprietary data analytics to uniquely serve this rapidly growing population.This paper reviews peer-to-peer(P2P)lending,its development in the United States of America and United Kingdom,and assesses the business and economic policy issues surrounding this new form of intermediation.It also enriches the understanding of online P2P lending across countries since P2P lending is quickly been adopted by many other countries. |
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