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P2P Social Lending Networks Morph Into Investment Networks

Tags: EA, social, networking, web2.0 on 2008-10-22 -All Annotations (4) -About

more frommy.gartner.com

On 14 October 2008, Lending Club, an online peer-to-peer (P2P) social lending
network, completed its U.S. Securities and Exchange Commission (SEC)
registration process and opened its Web site to new lenders. This registration
enables a secondary P2P loan market, offering enhanced liquidity options for the
lenders.
A secondary market for these loans enhances the liquidity of a lender's
investment. Previously, a lender was required to tie up funds for the three-year
life of the loan, with repayment on a fixed monthly schedule. Now, a lender with
immediate needs can (at a market price) liquidate the investment via the trading
market.
While SEC registration began before the current credit crisis expanded, the move
toward a regulated market for less traditional investment instruments presages
the eventual direction for derivatives traded over the counter (OTC).

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Finextra: Social savings outfit SmartyPig targets Australia with ANZ deal

SmartyPig, a US online saving service that uses Web 2.0 technology to enable account holders to deposit money and receive funds from others, has recruited ANZ Bank to launch the system in Australia

Tags: Post, web2.0, social, networking on 2008-10-08 -All Annotations (1) -About

more fromwww.finextra.com