Time for FCA to approve P2P personal loans under the FSCS
Apr 27, 2020 9:36:58 GMT
p2pfan likes this
Post by jojo on Apr 27, 2020 9:36:58 GMT
On those difficult times,
Bank of England is looking for money to help the most people as possible and why not using the money available.
We have seen the last month lots of lenders withdrawing money from p2p platforms, not because they need their savings but more often because they are not sure about the platform financial health.
I wish FCA could give to Zopa, Ratesetter and LendingWorks the FSCS guarantee which for the government is the best ratio risk/reward and best channel to help borrowers in need and link them with lenders that want to help, if FCA gives those fintech government guarantee, then, probably lots of lenders will stop withdraw, and maybe even more people could start lending using those fintech.
This is not a fresh money that need to be found, it is just using the money available, what are my alternatives? To put in Lloyds or Barclays at 0.1% interest and those banks will probably invest my money into financial markets instead of offering the money to people in needs.
Just a reflexion on why FCA is not backing more Fintech on those difficult times of financing the economy.
Bank of England is looking for money to help the most people as possible and why not using the money available.
We have seen the last month lots of lenders withdrawing money from p2p platforms, not because they need their savings but more often because they are not sure about the platform financial health.
I wish FCA could give to Zopa, Ratesetter and LendingWorks the FSCS guarantee which for the government is the best ratio risk/reward and best channel to help borrowers in need and link them with lenders that want to help, if FCA gives those fintech government guarantee, then, probably lots of lenders will stop withdraw, and maybe even more people could start lending using those fintech.
This is not a fresh money that need to be found, it is just using the money available, what are my alternatives? To put in Lloyds or Barclays at 0.1% interest and those banks will probably invest my money into financial markets instead of offering the money to people in needs.
Just a reflexion on why FCA is not backing more Fintech on those difficult times of financing the economy.
