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An overview of Social-lending and the challenges to traditional banks.
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Social-lending“Loans for everyone”
“Web 2.0 is the business revolution in the computer industry caused by the move to the Internet as a platform, and an attempt to understand the rules for success on that new platform.” Tim O’Reilly
Technology
Solutions
Change
Interaction
Styles
Web 2.0
http://www.flickr.com/photos/thomashawk/21151707/
http://www.flickr.com/photos/asbjorn_floden/2507182385/
• Share
• Shop
“eBay for Money”
Chris Larson, CEO of Prosper.com
What is Social-lending
• Cuts out the middleman• Better response times• More user friendly• Supports our communities• Feels good to lend to people
rather than a savings account
• Delivered in a well known interface e.g. On-line auctions
• Fewer costs– No branch, – fewer staff– Less infrastructure (initially)
Social-lending
Typical usage of Social-lending
Credit cardsStudent loans
Expensive debtStartups
Zopa is currently working with sixcredit unions, including Forum CreditUnion of Fishers, Ind., and USA Federal Credit Union of San Diego
http://blog.zopa.com/archives/2006/11/23/330-of-fame/
Doug True, SVP of Forum Credit Union of Fishers, says Zopa's merging of financial services and social networking "is a great way to reach the younger generation"
http://www.cbsnews.com/sections/i_video/main50021.shtml?id=3959487
“With money from family and friends, you can pick your own interest rate and loan terms to fit your situation. Rather than giving interest to a bank, you can keep it in the family
– often adding up to thousands of dollars of savings”
LendingClub and Facebook
“small businesses may find PayPal cheaper and easier to use than getting a credit card account”
13
MicroCredit
2006
May 2007
2005
Feb 2005
2007
Oct 2007 (CircleLending)
Feb 2008
Beta 2008 (New Zealand)
End 2007 (Australia)
Feb 2008 (Australia)
Oct 2005
Feb 1983
Marshall plan 1945
Social-lending Roadmap
Gartner
competition change restructure
“Social-banking platforms will capture 10% of the market for retail lending and financial planning.”
“10 percent of banks’ revenue from retail payments will be supported by competitors such as PayPal.”
“U.S. banks will start shutting down their full-service mobile-banking channels.”
“Centralized retail core banking applications will cease to exist in at least 20 percent of banks worldwide.”
Feb 2008 for 2011
• Student loans• Credit card
consolidation• Business startup• Small loans• Agricultural funding• Home loans
Traditional banks need to consider how they service
What happens if?
Loans from…
Undercut thecompetition?
Offer a similar service?
Buy Vs Build?
Chris Sparshott(Sparkbouy)chris@chrissparshott.com
Portfoliohttp://www.slideshare.net/sparkbouy/slideshows
Bloghttp://chrissparshott.com
IBMchris_sparshott@nz.ibm.com
Can I help?
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