Peer-to-Peer Lending in the Modern Financial System

Olga Aleksandrovna Zhdanova, Tatiana Grigorievna Bondarenko and Tatiana Pavlovna Maksimova

Peer-to-peer lending is a part of the emerging digital financial system, which meets the latest fintech industry development trends. Peer-to-peer lending attracts new economic entities to the financial market and expands the boundaries of lending. Moreover, it provides additional development opportunities for participation in the process of redistributing financial resources from one person to another without the participation of traditional financial intermediaries, such as banks. The global peer-to-peer lending function is to satisfy the changing needs of individuals and legal entities by expanding their financial capabilities. In Russia, peer-to-peer lending is based on a loan agreement and peer-to-peer platforms act as intermediaries between lenders and borrowers. Peer-to-peer platforms perform several functions that are generally aimed not only at making a profit but also at developing the financial market as a whole. The authors of the study suggest systematizing the functions of peer-to-peer lending in general and peer-to-peer platforms in particular and also develop an original classification of peer-to-peer loans. Peer-to-peer lending is developing, improving and offering more and more diverse additional options and convenient services for its customers.

Volume 11 | 11-Special Issue

Pages: 116-124

DOI: 10.5373/JARDCS/V11SP11/20192937