4 ms·

"personal loan" does not mean "peer-to-peer loan"

• melvinmt 12y ago
  Banks are actually all about "peer-to-peer" loans, where do you think their massive funds come from? You deposit money, the bank lends it out. In reality it's a bit more complicated than that but that's the essence of banking.
  • rjtavares 12y ago
    But there's no connection between the lenders and the depositors. So it's more server based than peer-to-peer.
    • melvinmt 12y ago
      It's a bit similar with Lending Club. They give out the loans and you buy the notes for those loans from LC.
• prostoalex 12y ago
  Well, Lending Club is no longer pure peer-to-peer either http://blog.lendingclub.com/a-note-on-our-recent-loan-volume/ http://blog.lendingclub.com/a-note-on-our-recent-loan-volume... But would be the bank's role in a peer-to-peer transaction? Pure servicer?