At its recent forum in Paris, financial technology firm Misys launched its new crowdlending module. The new offering could see banks seize back the upper hand in the $490 billion crowdlending market. How does it work?
Misys believes the new module will enable retail and corporate banks to grow their lending business and recapture P2P market share, an area where the fintech upstarts have been grabbing low hanging fruit.
Misys FusionBanking CrowdLending supports retail and corporate banks in delivering funding to all customers, from the individual to SMEs and large corporations. It opens the door for banks to claim a stake in the accelerating global loan origination market, which could command almost half a trillion dollars globally by 2020.
FusionBanking CrowdLending provides a fully integrated, white-label platform which enables banks to bring lenders, including individuals, asset managers and banks, together with borrowers of all sizes, innovating and digitalising traditional lending.
Born in The Fintech Innovation Lab
finews.asia has routinely covered the rapid rise of P2P offerings and companies that have sprung up across Asia and are nibbling at the heels of the traditonal players.
For borrowers, FusionBanking CrowdLending will provide easy access to alternative funding through a trusted bank platform, with no additional sign up processes required. In-house processing affords cost efficiencies which deliver borrowers competitive rates. Users also benefit from their bank’s customer network of lenders and investors, for fast loan origination. Investors benefit from established credit risk processes and bank infrastructure, to minimise potential risk.
FusionBanking CrowdLending is born out of the Misys FusionReactor innovation lab. The agile cloud-based platform is built on the Misys FusionFabric architecture. The new platform serves to originate peer to peer commercial loans. It is available pre-integrated with Misys FusionBanking Loan IQ for servicing resulting syndicated loans. It can also be integrated into other existing servicing platforms.
«Alternative finance has made its mark, overall loan volumes are on the up, but a growing and increasingly relevant slice of the market is now being processed by independent P2P providers. With traditional lending vehicles also under pressure from marketplace lenders, banks risk missing out,» said Simon Paris, President at Misys
