Peer-to-peer (P2P) lending is the loan of money to individuals or businesses through online services that match lenders directly with borrowers without going through a traditional financial intermediary such as a bank. P2P lending first appeared in 2005 with the advent of Zopa in the UK. It spread throughout the western world until to finally became a global phenomenon. Today, providers of alternative finance in western countries are looking at the next growth area: Asia. According to Rhydian Lewis, head of peer-to-peer firm Ratesetter, a lot of lending in Asia is already conducted outside of the banking system. “These countries haven’t built out banking infrastructure, so there’s a massive opportunity for them to skip a generation, leapfrog, go online and adopt new forms of finance,” Lewis told the Financial Times.

http://fintechnews.sg/3518/crowdfunding/asias-top-7-peer-peer-lending-platforms/