Social Lending V1.0
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Social Lending V1.0

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An overview of Social-lending and the challenges to traditional banks.

An overview of Social-lending and the challenges to traditional banks.

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Social Lending V1.0 Social Lending V1.0 Presentation Transcript

  • Social-lending “Loans for everyone”
  • Web 2.0 “Web 2.0 is the business revolution in the computer industry caused by the move to the Internet as a platform, and an attempt to understand the rules for success on that new platform.” Tim O’Reilly Interaction Technology Styles Change Solutions
  • • Share http://www.flickr.com/photos/asbjorn_floden/2507182385/ • Shop http://www.flickr.com/photos/thomashawk/21151707/
  • What is Social-lending “eBay for Money” Chris Larson, CEO of Prosper.com
  • Social-lending • Cuts out the middleman • Better response times • More user friendly • Supports our communities • Feels good to lend to people rather than a savings account • Delivered in a well known interface e.g. On-line auctions • Fewer costs – No branch, – fewer staff – Less infrastructure (initially)
  • Typical usage of Social-lending Credit cards Student loans Expensive debt Startups
  • Zopa is currently working with six credit unions, including Forum Credit Union of Fishers, Ind., and USA Federal Credit Union of San Diego Doug True, SVP of Forum Credit Union of Fishers, says Zopa's merging of financial services and social networking quot;is a great way to reach the younger generationquot; http://blog.zopa.com/archives/2006/11/23/330-of-fame/
  • http://www.cbsnews.com/sections/i_video/main50021.shtml?id=3959487
  • “With money from family and friends, you can pick your own interest rate and loan terms to fit your situation. Rather than giving interest to a bank, you can keep it in the family – often adding up to thousands of dollars of savings”
  • LendingClub and Facebook
  • “small businesses may find PayPal cheaper and easier to use than getting a credit card account”
  • Social-lending Roadmap Beta 2008 (New Zealand) Feb 2008 Oct 2007 (CircleLending) May 2007 Feb 2008 (Australia) 2005 End 2007 (Australia) 2007 Feb 1983 2006 Oct 2005 MicroCredit Feb 2005 Marshall plan 1945 13
  • Gartner Feb 2008 for 2011 “Social-banking platforms will capture 10% of the market for retail lending and financial planning.” “10 percent of banks’ revenue from retail payments will be supported by competitors such as PayPal.” “U.S. banks will start shutting down their full-service mobile-banking channels.” “Centralized retail core banking applications will cease to exist in at least 20 percent of banks worldwide.” competition change restructure
  • Traditional banks need to consider how they service • Student loans • Credit card consolidation • Business startup • Small loans • Agricultural funding • Home loans
  • What happens if? Loans from…
  • Undercut the competition? Offer a similar service? Buy Vs Build?
  • Can I help? Chris Sparshott (Sparkbouy) chris@chrissparshott.com Portfolio http://www.slideshare.net/sparkbouy/slideshows Blog http://chrissparshott.com IBM chris_sparshott@nz.ibm.com