News & Views - Savantor

Peer to peer loans growing

Monday, 15 November 2010

We have commented before on person to person lending platforms like Zopa and their growing popularity and it seems this trend is set to continue with the launch of another such platform – Quakle.

In these days of poor returns on investments from Banks and the opposite on loans it is not surprising to see these types of offerings becoming more popular. Quakle is different from other peer-to-peer lending websites as it combines peer-to-peer lending with social networking. Members also have a 'reputation score' which is based on their individual behaviour and that of any group they may be part of within the site and gives an indication of how reliable they are as a borrower. Borrowers and lenders are encouraged to get to know each other and join groups to form a social community.

Unlike other peer-to-peer lending sites, investors are not charged anything to loan money. Borrowers make loan requests, which are open for a period of ten days. During this 'auction' period, lenders can bid to fund a proportion of these loans and can propose the interest rates at which they are prepared to lend. When the auction system finds a match, the lenders and the borrower enter into a legally binding loan contract. Loans must be repaid to the lender over a period of 12 to 36 months. As these systems are cutting Banks out of the loop it will be worth watching their performance over the next 2 – 3 years as they are likely to be popular with younger consumers who may also be more inclined to use PayPal on their mobiles to make payments and transfer funds and the Banks may find themselves being cut out of another loop.

Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Card Processing Migration

"Disciplined methodology and effective teamwork, guided by Savantor's migration expertise and operational knowledge, were the hallmarks that led to the resounding success of this project, enabling us to maintain and develop our business capability."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

Credit Card Migration and Operational Support

"The bank has undergone significant transformation of its card business on both the issuing and acquiring sides. One business partner we have looked to for support in the areas of strategy, major project leadership, management analysis and ongoing business support is Savantor. The Savantor team has contributed to our success as we have leveraged their deep industry knowledge and broad range of operational skills."

Sean Sheehan, Service Management Director - Bank of Ireland

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Acquirer Strategy and Operating Model

"Savantor brought an effective blend of European acquirer market expertise and transaction processing solution design. Their experts quickly forged strong working relationships with our team. We enjoyed working with them to create our future acquirer strategy."

Mikko Hyttinen, SVP - Lending Services - OP-Pohjola Group - Finland

Credit Card Launch

"Savantor's knowledge and experience were the key differentiators in selecting them and they contributed greatly to the success of the product launch and the effectiveness of the ongoing operational service."

Toine Schepers, Operations Director - Primeline - The Netherlands

Payments Platform Strategy and Sourcing

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with our team and actively contribute. Their experts quickly forged strong working relationships and delivered to our brief. We enjoyed working with them to develop our future platform strategy."

Evert R Fekkes, SVP - Payment & Savings Services - Rabobank Nederland

New Fuel Card Guidelines

"Savantor successfully assisted Clear2Pay by providing specialist EMV expertise."

Marie Costers, General Manager - Clear2Pay Open Test Solutions

Commercial Card Migration

"Execution at its best. We're delighted that this project has been truly outstanding and received an award from 'The Banker'. Savantor provided crucial expertise that helped us keep all our promises in terms of delivery. The scheduling, planning and control regime throughout was excellent."

Chris Mason, Director - Commercial Cards EMEA - Citi - UK

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.