Banks and large energy utility companies still hold majority market share by a long shot. However, decentralization is seen as a viable threat in each market and is changing the way that the markets function. Wells Fargo has banned its employees from engaging in any type of peer-to-peer lending, but has no problem holding investors’ P2P money. As Helen Avery wrote for Euromoney, “The crowd is taking over from traditional sources of finance and it is here to stay. It’s the start of the big bank disintermediation. Unless banks join the revolution, consumer lending may no longer be their sole domain.”
Posted on: Sun, 01 Jun 2014 14:45:44 +0000
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