Deloitte just trashed the hype around the online lending industry.
The accountancy and consultancy practice has done a deep dive on the online lending industry, and its conclusions should make for devastating reading for anyone connected to the sector.
Deloitte concludes that marketplace lenders, more commonly called peer-to-peer lenders in the UK, “are unlikely to pose a threat to banks in the mass market,” according to Neil Tomlinson, Deloitte’s head of UK banking. The report concludes that the platforms “will not be significant players in terms of overall volume or share.”
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