Alternative Finance Sector - Innovative payments processing as an enabler to growth
Date published
June 12, 2017
Company
Modulr
The Alternative Finance and non-bank lending market has grown massively quickly in recent years.
In the UK, peer to peer (P2P) business lending increased at an average rate of 194% between 2013 and 2015 and reached around £2.5 billion in 2016.
Meanwhile Euro volumes came close to €1 billion in 2016, up 85% year on year.
Alternative Finance, or Altfi, lenders are regulated non-bank lenders that use innovative technology and business models. They typically offer simpler, faster applications and approvals, facilitate lending to those who would otherwise find it difficult to get credit and in the case of peer to peer models, provide relatively high risk/return opportunities for investors.
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