The UK is leading the way in alternative lending industry as lending volumes are four times higher than the rest of continental Europe, a study from KPMG and the P2P lending platform TWINO on the state of the market across the continent confirms.
More in particular, the report points out that between 2015 and the third quarter of 2016 European online alternative lending market volumes grew by 23% with the UK players firmly holding 81% of the total market share.
Julia Masane-Ose, KPMG Baltics’ Deal Advisory Director, said:
“Given the present state of Continental Europe’s market, which is still rather untapped, local mutual borrowing platforms continue to dominate, filling the niches in both high risk and medium risk unsecured loans. However, there is an observable new trend now appearing with European mutual borrowing platforms, with many showing a growing interest for expansion in markets outside Europe.”
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