Big banks may still dominate the loans business, but they are no longer the only providers. Peer-to-peer platforms persist and evolve. Alternative lenders are growing fast.
In August, Mintos – Europe’s largest marketplace for investing in loans by far – secured investment firm and electronic money institution licences from Latvian regulator, the Financial and Capital Market Commission (FCMC).
In the coming months, it will passport these to expand operations across the EU, offering more retail investors exposure to credit extended by 70 non-bank lenders to individuals and SMEs in 34 countries across the world including emerging markets in Africa, Asia and Latin America.
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