U.S. Consumers’ Awareness and Use of Marketplace Lending U.S. Consumers’ Awareness and Use of Marketplace Lending

By Robert Adams, Tim Dore, Claire Greene, and Traci Mach

Marketplace lending is a new model of lending that matches borrowers and investors through online platforms without the use of a financial institution as an intermediary. It is unclear what role marketplace lending ultimately will play in consumer finance, but certainly consumer demand will be a major factor in determining that role.

With the premise that examining consumer awareness is the first step toward understanding demand, this study uses data from two nationally representative surveys—the Survey of Consumer Payment Choice and the Diary of Consumer Payment Choice—to report on the awareness and use of marketplace lending in late 2016.

see more

up down Key Findings