Fitch Ratings director Brendan Sheehy addresses the emerging peer to peer (P2P) lending industry in a brief video presentation. Sheehy, believes that P2P lending could be a disruptive force within the banking industry – just like so many others.
He notes that since 2009, P2P loan originations have expanded at an “annual growth rate of over 100%” and the team at Fitch pretty much expects this to continue.
Fitch jumped into the P2P space this past August publishing a statement on the emerging disruptive approach towards traditional loan making. While ratings agencies have been slow to move into the space they are quickly coming around as once you start talking about billions of dollars and IPOs – it becomes pretty hard to ignore.
Watch the Fitch video below.
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