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|"The P2P sector has gone from fintech fantasy to established industry in only a decade" - Kevin Cale|
|Wednesday, 20 April 2016|
Kevin Caley, Founder and Chairman of ThinCats, said: “With £715 million of new loans approved in the last three months alone, it’s clear that the peer-to-peer sector has truly made its mark and is giving traditional lenders a real run for their money. The pace of growth has been consistent, with volumes almost doubling year on year, and this is just the start of it. We expect this growth to snowball, as more platforms receive FCA approval for the innovative finance ISA.
“The industry has gone from fintech fantasy to established industry in only a decade, so inevitably there will be challenges along the way. However the leading peer-to-peer platforms, members of the P2PFA, have all built robust business models and set high standards to deal with this. So I have no doubt that the peer-to-peer sector will soon sit alongside other mainstream asset classes, and continue to deliver great results for investors and borrowers alike.”
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