P2P lending marketplaces; a fructified byproduct of sharing economy and fintech
Sharing economy has its impacts on all kinds of business realms. You will see marketplaces all around, embracing the core concept of sharing economy and bringing people together to trade. Starting off a sharing economy website is the latest vogue and since it is really easy to get into this practice, people are not backing off from trying their hands. Different entrepreneurs and business minds are trying new and exciting ideas. From accommodation, transportation to traveling, there are marketplaces complementing a number of business segments. One such area which has seen a lot of sharing economy is fintech especially the lending practice.
Peer to peer lending is the practice where people borrow money via online marketplaces. Let’s us have an illustration with you being a P2P marketplace owner- you create a lending marketplace where borrowers and lenders join with their offerings and needs and they get into a fair trade with all their consent. People who are in need are able to utilize the resources of people who have excessive or unused resources in their kitty; this is also the core essence of the idea of sharing economy. What is in there for you? Well, you get to charge a fee as a marketplace owner for connecting the lender with the borrower.
People who are up to embrace this lending marketplace idea are bring two of the best notions together for greater good i.e. fintech and sharing economy. There are businesses operating on that model and by opening a P2P marketplace website, you can easily have one of your own. It is a popular practice and this is a far better alternative to borrowing money from banks and other financial institutions. A very clean advantage of the P2P lending platform is that here loans are comparatively cheaper due to the fact that there is no institutional body and borrower is directly connected to the lender.
This is a potential business plant that you make full use of and dive into the fruitful sea of sharing economy. Opening a lending marketplace is way too easy; all you need to do is have a source by your side which can help you in creating the virtual marketplace; IdyaFlow is one such platform. IdyaFlow provides you with P2P marketplace template for creating a marketplace of your own. Using the templates for this platform, you can design your own marketplace and make a community which will trade the way you want them to trade.