The rise of peer-to-peer lending companies is not an existential threat to conventional banking but will instead complement the industry by serving people that traditional banks cannot reach.
That's the view of Soul Htite, co-founder and chief executive officer of Dianrong.com, one of the fastest growing P2P lenders in China.
“One of the common misconceptions of P2P lenders is that they go head-to-head with banks,” Htite said in an exclusive interview with FinanceAsia. “In fact, internet and technology allow P2P and other fintech companies to reach out to people that do not have access to bank loans.”
That includes small-...
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