Back to roots. Internet style "social lending may threaten banks", eventually.

Internet style social networking lending narrows gap between traditional banks and cooperative finance.

"Internet social lending 'may threaten banks' | Internet Marketing News and Blog | E-consultancy.com: "

A new study has claimed that the social networking boom could eventually threaten the dominance of traditional lenders.

A study by the Social Futures Observatory think-tank found that many consumers would consider borrowing through online ‘social lending’ communities rather than high street banks and other traditional lenders.

The SFO study surveyed members of Zopa.com, an online lending community, as well as a general sample of mainstream banking customers."

Katie Ledger on the programme, Click, reports that, "Social lending gains net interest - Social networking spawns a new concept as banking harnesses the potential of Web 2.0."

silicon.com suggests "big-bank confidence dented by social banking".

Could even partial en masse "borrowers voting with mice" "force banks to cut loan rates"? Indeed could it eventually comprehensively metamorphose lending and saving processes?

Or maybe it will overtake porn?

(some porn stats:
  • # 89% of porn is created in the U.S.
  • # $2.84 billion in revenue was generated from U.S. porn sites in 2006
  • # $89/second is spent on porn
  • # 72% of porn viewers are men
  • # 260 new porn sites go online daily)

business, co-operation, finance, society

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