Leading Marketplace Lending Innovators

Leading Marketplace Lending Innovators
Stuart Law, CEO & Founder, Assetz Capital; David Brown, Managing Director, Folk2Folk; Christoph Rieche, Co-Founder & CEO, iwoca; Raj Singh, UK Managing Director, AvantCredit; Martin Kissinger, Founder & CEO, Lendable
Moderator: David Stevenson AltFi

In this session, representatives from five platforms talked about innovation with regard to products, processes and mobile technology. For instance, Mr. Rieche of iwoca discussed iwoca’s cooperation with Alibaba: Whenever a SME customer buys from Alibaba, they will see the financing options provided by iwoca and the loan application system is highly automatic.

When asked whether P2P platforms are taking customers who are rejected by banks, the representatives said an imperfect credit record does not necessarily indicate an irresponsible lender. There have been cases where a customer is referred by commercial banks to online lending platforms, simply because they are not treated the same way in these two types of financial organisations.