Peer-to-peer (P2P) lending is a form of direct lending between lenders and borrowers. In a P2P transaction, money can flow from the lenders directly to borrowers through the P2P platform, bypassing the traditional banking channel. As such, it is generally considered a disruptive form of fintech. Lu.com is one of the world’s largest players in the P2P market. Recently, I sat down with Gregory Gibb, CEO and chairman of Lu.com, in his office in Shanghai to discuss how the industry will evolve.
Fintech has taken the financial services industry by storm. Yet despite all the talk of disruption, fintech start-ups are just as vulnerable as those in other industries. So what are the factors that separate the winners from the losers? In the first installment of the Fintech Files series, Larry Cao, CFA, interviewed Gregory Gibb, chairman and CEO of Lu.com, for his perspective.
The problems at Lending Club, a leading P2P company, raises a larger issue: What's the future of the fintech industry. Will it replace the traditional financial services sector as we know it or reshape it by providing better technical solutions?
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