Posted by Rex Dixon :: June 11, 2007 @ 8:10 amIn case you are thinking, “Where can I find some more information on this p2p lending thing?” – We have just the place you need to go. The site NetBanker has just published a great report on Social Personal Finance that compares Lending Club to “the MBNA of P2P Lending”. We are very fortunate to have made the cut off for this annual report, which came out on May 31 a few days only after we launched on Facebook.
The report itself goes over many aspects of social media. Sites like MySpace, Facebook, and LinkedIn are all discussed in the report. A question that many ask is “Why are social networks so popular?” We have that one asked to us all the time. NetBanker has an explanation:
Because they combine entertainment, communications, news, hobbies, and gossip. They are almost like a mashup of every major medium: television, radio, magazines, and newspapers combined with communications both private-one-to-one and public-broadcast modes
We think social networks and other online communities are so popular also because they provide a new, interactive way of connecting with one another. These connections are based on groups, networks, affinities, relationship. At Lending Club, we believe these connections create an ideal environment for person-to-person lending. As Jim Bruene noted in his report:
Lending Club is the first to leverage the Facebook interface to support actual financial transactions.
We look forward to reading more articles of NetBanker’s in the weeks to come as P2P lending continues to develop and establishes itself as a fair and efficient alternative to banks and credit card companies.
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