Banks’ growing role casts doubts on P2P lending

Local banks have become the top source of P2P loans as their contribution rose from less than 11% to almost 44%. — AFP

JAKARTA: Over the past two years, retail investors’ position in peer-to-peer (P2P) lending platforms in Indonesia has been sidelined by that of banks.

Some industry players argue that is the natural next step as financial technology (fintech) firms cannot solely depend on individual lenders after reaching a certain scale.