Consultancy Gartner predicts that: "By 2010, social-banking platforms will have captured 10% of the available market for retail lending and financial planning". Not surprisingly Zopa is happy about that forecast. I think this is an over-optimistic outlook but James Gardner of BankerVision (working at Lloyds TSB bank) who also thinks it is aggressive points to the example of Paypal, which has been underestimated years ago. A more supportive view comes from Antony Mayfield while taking Zopa as example.
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P2P lending articles
Today another selection of interesting articles on p2p lending was compiled. A highlight is Dough Roller's comparison between Prosper and Lending Club explaining the differences in determining interest rates for loans.
Social lending timeline
Created by Jean-Christope Capelli
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P2P lending articles
Prosper.com recently changed it's portofolio plan segment criteria and the bidding guidance. A longtime lender speculates in an analysis that the changes were necessary due to rising default rates.
Yesterday a collection of interesting articles was compiled at BripBlap: Continue reading
Download Zopa default rate figures
British Zopa.com just published a spreadsheet with Zopa default rate figures. The weighted average of overall defaults is a tiny 0.1% ! Even more interesting all defaulted cases happened in 2005 or the first half of 2006.
Another interesting read is this case study on Zopa (published late 2006).
Update on Lendingclub launch
Following up on my earlier post regarding the LendingClub launch read Colin Henderson's view on this. Furthermore in this blog it says (without giving sources):
For the moment, the site is only accessible through Facebook, but will eventually be available to the public.