First of all banks in China works very differently from those in US. It's very hard for individuals and small companies to get loans from banks. Secondly, ther

First of all banks in China works very differently from those in US. It's very hard for individuals and small companies to get loans from banks. Secondly, there are tons of companies working on peer-to-peer lending in US as well. Lending Club and Prosper has been around for a while. Newer ones like Upstart and Lendup are also in the same category. Their claims essentially that they have more data and better models to make better decisions than what traditional banks can do