Through peer-to-peer lending platforms, individuals can access loans at lower interest rates than traditional banks by connecting borrowers directly with lenders. This democratizes debt and expands access to funds for underserved segments that face high costs and barriers to obtaining loans from banks. By utilizing alternative data sources and analytics, P2P marketplaces can assess borrower creditworthiness in a more customized way than traditional banks, which rely primarily on credit scores and financial history. For both borrowers and lenders, P2P lending provides an opportunity for easier access to better rates than are available through conventional banking.