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Lending club vs lendico
- 1. Financial Institution, Services and Industry Vivian Schroeder Eder Gonzalez ISEM SoSE 2016
- 2. AGENDA • What is P2P Lending • Platforms (Lendico and Lending Club) • Product Review and Comparison • Customer Mindset - 2 -
- 3. About P2P - 3 - What is P2P? Peer-to-peer lending, is the practice of lending money to individuals or businesses through online services that match lenders directly with borrowers. Is a method of debt financing that enables individuals to borrow and lend money - without the use of an official financial institution as an intermediary. P2P loans give borrowers access to financing that they may not have otherwise gotten approval for by standard financial intermediaries 40 billions £ Global Worth by 2016 £5 billion in the UK, £ 20 billion in the USA. Over the decade around $0.59 trillion globally
- 4. BrazilUSA South Africa Spain Germany Poland Netherlands Austria Platforms
- 5. Product Review Lendico A p2p lending service with consumers as borrowers and has been rolled out in 6 national markets so far. LendingClub It is considered as the world’s largest online marketplace connecting borrowers and investors. 2013 Berlin 51-200 Employees Private Held Company 2006 San Francisco , Cal. +5000 employees Public Company Founded Headquarters Company Size Founded Headquarters Company Size
- 6. Product Comparison Lendico Company established in different countries: Brazil, Spain, Germany, Austria, Poland, South Africa, Netherlands LendingClub Only in USA Lendico Service: Focuses on Small and Medium sized business LendingClub Service: SME, Personal Loans. Lending Club Personal Loans up to: $40,000 Business Loans up to: $300,000 Lendico Personal Loans up to 25,000 € Business Loans up to 150.000 €
- 7. Customer Mindset Focus Money “best credit marketplace in Germany” Getestet.de grade: 1.7 overall assessment: “gut” Trust? Risk? Forbes “America’s most promising companies 2014 Reliable? Economist Innovation Award Winner: Consumer Product
- 8. Fee Effective interest rate Term Credit amount 1.000 – 25.000 € 12 – 60 months 6,91% - 17,5% - Application for free - Pay 0,25 – 3,00% for credit 1.000 – 25.000 € 24 – 60 months 5,32% - 30,99% - Origination Fee - Unsuccessful Payment Fee - Late Payment Fee - Check Processing Fee
- 9. What about fraud or credit risk ? CEO of Lending Club answer this question - 9 -
- 10. Thank you for your attention
Editor's Notes
- In short words P2P is the large scale lending of money between people online. An individual lending money to another (usually) through an online platform that moderates the process. Instead of putting money in a bank you are lending money directly to borrowers. Often this means a higher rate of return than offered by traditional savings accounts. The Peer-to-Peer lending industry is seeing significant growth, especially in developed countries with strong financial markets
- Lower operating cost than banks
- https://www.kredit-abzocke.com/kreditanbieter/test/lendico/