Global Online Lending Leaders
Global Online Lending leaders panel with Alejandro Cosentino, Afluenta; Viola Llewellyn, of Ovamba; Neil Roberts, of Harmoney; Greg Symons, of SocietyOne; Meg Zwick, of Millennium Trust Company; and moderator Rodolfo Gonzalez, of Foundation Capital. The discussion centered around the different challenges each country brings to p2p lending.
Harmoney explained that the p2p message is so strong in New Zealand that people have warmed up to it and within this market, they dominate the legislation. They are clearly focused on consumer loans at this time, but with such potential and a population hungry and accepting of this new model, there will be no constraints on them moving forward.
Affluenta are the first Latin American P2P platform and Alejandro explained that they have been so successful because they understand the markets more deeply and fully than platforms from outside the area could. This led the panelists to talk about what their unique geographical knowledge brings to their unique selling proposition.
Ovamba are probably Africa's first p2p organization at this point. They have a platform which was designed to take into account the very particular nuances that Africa offers and they have enough traction to disrupt financial systems. There was some exploration of the political and cultural problems in Africa, but Ovamba was still very optimistic.
The session concluded with the moderator pointing out that here we have multiple examples of companies doing a great job of building loans in their countries and that as they scale they are going to have more and more potential to access greater sums of capital.