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Leveraging big data analysis and online platforms, marketplace lenders have been responsible for increasing efficiency to the lending market. As a result, the loan process for many borrowers on online lending platforms has become simpler, with funds available in shorter periods than through traditional credit sources such as banks.
In addition, the convergence of data and digital platforms has also led to specialized platforms focusing on specific borrowers such as student loans, small businesses, real estate mortgages and supply chain financing. By focusing on niche areas of lending, such platforms can appeal to investors that want to ... (read more)