Startup P2P crediting "Loan Exchange". Part one. Introductory
Hello, Dear Habraludi!
Very soon, the project of the first P2P Lending Platform in Russia “Loan Exchange” will start. This phenomenon is new, people are not too familiar. And therefore, we hasten to tell you about what lies behind this intricate abbreviation "P2P" and try to figure out what the prospects for its development in our country are.
By and large, this is another clone of Western successful projects. We love all sorts of "Russian analogues" of foreign successes. And now, it seems, Russia is seized by the Western wave of a new method of financing, and, concurrently, by an investment instrument, the so-called P2P lending. So, two in one.
The term P2P itself comes from the English "people-to-people" or "peer-to-peer," which means "from person to person," or "from level to level."
Phenomenon online only. Thus, individuals lend to the same individuals on a specialized website on the Internet. The main idea of these projects is to increase the yield for the Investor on the one hand, and on the other to increase the availability and cheapening of the loan for the Borrower by eliminating the financial intermediary (bank) between both parties to the loan agreement.
Schematically, the lending procedure itself is as follows: Investors and Borrowers are registered on the site, the Borrower is assigned a certain reputational rating, which reflects the degree of trust in him, and, accordingly, will “prompt” to the potential Investor the loan terms of such Borrower.
The borrower forms an application for a loan, which is placed in the database of applications in the System, - the Investor selects from the database of formed applications those that meet the criteria specified by them and distributes among them the amount that he decided to invest in investments. The degree of profitability of the Investor is determined by himself, based on the level of risk that he has determined for himself. The risks of the Investor are insured by the fact that, in fact, he makes portfolio investments, thereby reducing the possibility of non-return of money by one Borrower. The entire P2P design is based on a rating system for Borrowers. This takes into account not only their behavior and reputation on the site, but also their credit histories, the presence of guarantors and the information they provided about themselves during registration.
There are already a lot of similar sites all over the world. The first P2P lending platform Kiva.org appeared 5 years ago in the United States. Behind it, like mushrooms after the summer rain, prosper.com, lendingclub.com, smava.de, and many, many other resources appeared one after another. To date, loans have been issued on the P2P system for $ 740 million.
It is interesting that such P2P platforms work not only in the territories of developed countries. For example, even African cooperatives get loans at kiva.org!
However, such sites are reaching Russia only now. In June, the so-called Credit Exchange (Birjakreditov) promises to be launched, positioning itself almost like the analogue of prosper.com.
And some time ago, a similar service offered WebMoney. His lendmoney.ru is very similar to the above sites. With only one difference - all calculations are made only in WebMoney currency, and only in its dollar equivalent. On top of that, you need to have certain skills and incredible patience to deal with the system WebMoney, which is so “for people” that the devil himself in her leg break.
With all the seemingly inconveniences, such a service is in demand. At the moment, about 110,000 people are registered on the site, of which about 10,000 are active users. Loans were issued for $ 3.1 million over the 2 years of the service’s existence. For comparison, 960,000 members are registered on rosper.com, and loans issued for $ 200 million, for lendingclub.com -140,000 members, loans for $ 110 million.
Will P2P take root in Russia? Chances are definitely there. However, perhaps, only if such services break Investors' distrust. This can be helped by lending to contracts, which are concluded online, of legal force. Unfortunately, at the moment, the Russian legislation is not sufficiently adapted to the business on the Internet and what is possible in the West, in Russia, causes a lot of legal difficulties. They try to solve them in different ways. WebMoney offered to create an electronic currency, behind which is a rather complicated mechanism, which is essentially a bill of exchange scheme. The Credit Exchange proposes using a more reliable and convenient electronic signature digital signature (EDS) mechanism when concluding loan agreements.
It remains to hope that Russian legislation will gradually synchronize with international standards and comply with global trends, because, according to experts, a huge part of existing businesses will gradually “move” to the Internet, and it’s very important that our legislative bodies focus on global economic trends.
Ps. We would be grateful for your opinions and constructive discussion.
Very soon, the project of the first P2P Lending Platform in Russia “Loan Exchange” will start. This phenomenon is new, people are not too familiar. And therefore, we hasten to tell you about what lies behind this intricate abbreviation "P2P" and try to figure out what the prospects for its development in our country are.
By and large, this is another clone of Western successful projects. We love all sorts of "Russian analogues" of foreign successes. And now, it seems, Russia is seized by the Western wave of a new method of financing, and, concurrently, by an investment instrument, the so-called P2P lending. So, two in one.
The term P2P itself comes from the English "people-to-people" or "peer-to-peer," which means "from person to person," or "from level to level."
Phenomenon online only. Thus, individuals lend to the same individuals on a specialized website on the Internet. The main idea of these projects is to increase the yield for the Investor on the one hand, and on the other to increase the availability and cheapening of the loan for the Borrower by eliminating the financial intermediary (bank) between both parties to the loan agreement.
Schematically, the lending procedure itself is as follows: Investors and Borrowers are registered on the site, the Borrower is assigned a certain reputational rating, which reflects the degree of trust in him, and, accordingly, will “prompt” to the potential Investor the loan terms of such Borrower.
The borrower forms an application for a loan, which is placed in the database of applications in the System, - the Investor selects from the database of formed applications those that meet the criteria specified by them and distributes among them the amount that he decided to invest in investments. The degree of profitability of the Investor is determined by himself, based on the level of risk that he has determined for himself. The risks of the Investor are insured by the fact that, in fact, he makes portfolio investments, thereby reducing the possibility of non-return of money by one Borrower. The entire P2P design is based on a rating system for Borrowers. This takes into account not only their behavior and reputation on the site, but also their credit histories, the presence of guarantors and the information they provided about themselves during registration.
There are already a lot of similar sites all over the world. The first P2P lending platform Kiva.org appeared 5 years ago in the United States. Behind it, like mushrooms after the summer rain, prosper.com, lendingclub.com, smava.de, and many, many other resources appeared one after another. To date, loans have been issued on the P2P system for $ 740 million.
It is interesting that such P2P platforms work not only in the territories of developed countries. For example, even African cooperatives get loans at kiva.org!
However, such sites are reaching Russia only now. In June, the so-called Credit Exchange (Birjakreditov) promises to be launched, positioning itself almost like the analogue of prosper.com.
And some time ago, a similar service offered WebMoney. His lendmoney.ru is very similar to the above sites. With only one difference - all calculations are made only in WebMoney currency, and only in its dollar equivalent. On top of that, you need to have certain skills and incredible patience to deal with the system WebMoney, which is so “for people” that the devil himself in her leg break.
With all the seemingly inconveniences, such a service is in demand. At the moment, about 110,000 people are registered on the site, of which about 10,000 are active users. Loans were issued for $ 3.1 million over the 2 years of the service’s existence. For comparison, 960,000 members are registered on rosper.com, and loans issued for $ 200 million, for lendingclub.com -140,000 members, loans for $ 110 million.
Will P2P take root in Russia? Chances are definitely there. However, perhaps, only if such services break Investors' distrust. This can be helped by lending to contracts, which are concluded online, of legal force. Unfortunately, at the moment, the Russian legislation is not sufficiently adapted to the business on the Internet and what is possible in the West, in Russia, causes a lot of legal difficulties. They try to solve them in different ways. WebMoney offered to create an electronic currency, behind which is a rather complicated mechanism, which is essentially a bill of exchange scheme. The Credit Exchange proposes using a more reliable and convenient electronic signature digital signature (EDS) mechanism when concluding loan agreements.
It remains to hope that Russian legislation will gradually synchronize with international standards and comply with global trends, because, according to experts, a huge part of existing businesses will gradually “move” to the Internet, and it’s very important that our legislative bodies focus on global economic trends.
Ps. We would be grateful for your opinions and constructive discussion.
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Source: https://habr.com/ru/post/94474/
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