Finances 9teen

According to a information published in the World, a system of financing between individuals is beginning to be developed in Spain that already been successful in other countries, like the United Kingdom. One is about loans P2P, that is to say, person to person. The procedure is the following one: a user asks for a loan in Internet and hopes to that other users are interested in their idea. The platform through which it negotiates is a page Web behind which, as always, there is a company. In Spain there are, at the moment, two companies dedicated to this business: Comunitae and Partizipa.

First not yet it has taken off, although it hopes to do it soon. Second yes it acts as intermediary financier and it is focused to the financing of enterprising businesses. Both have a fundamental difference: while Comunitae projects to acquire a commission to put in contact to the lender and the borrower, Partizipa prefers to replace the direct collection by a participation in the business, in search of yield. For it, logically, it must be implied in the project and follow it close by. In this sense, Partizipa would not be strictly a platform of loans P2P but something as well as a financial intermediary. Figure, the one of the intermediary, who lacks regulation at present and that floats in the middle of a legal emptiness, like the initiative in himself.

In main lines, these new companies look for to position themselves like an alternative to traditional the banking and financial system. They criticize the policies of the banks, especially concerning the collection of interests. Nevertheless, as we before said, the new initiatives of loan between individuals not yet are legislated, and so, besides distinguishing itself of the banks by the absence (in principle) of interests, they make also it lack legal requirements as far as transparency and information to the consumer. Although they assure to be put under external audits and to apply to a policy of absolute transparency, the certain thing is that legal procedures do not exist to demand it nor to protest before an organism in particular in case of breach.

These initiatives are the result of the crisis. As we already indicated in others posts, the periods of economic difficulties worsen I devise, and this one is an excellent example. Time will tell if these companies have possibilities of settling down like a serious and safe alternative to the traditional banks and, if yes, if the banking organizations must adapt to the idea to have a competitor of these characteristics.