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The Bankwatch: Thoughts on p2p lending, risks and the future of the industry

by Prosper on 01/22/10

by Colin Henderson, Chief Technology Officer, CommunityLend

The original vision for peer-to-peer lending was formed at a time when internet models were evolving from web sites to social interactions. The notion of wisdom of crowds and the ability of a larger group to prepare better decisions than discrete individuals was prevalent. Prosper to their credit took that vision literally and applied it to peer-to-peer lending.

Zopa and later Lending Club took a more traditional personal lending approach when implementing their model. The spectrum of peer-to-peer lending has evolved from those early days over a five year period, to one with clearly defined risk management principles in place, and generally one, based on solid borrowers with good credit.

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Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.