P2P prospects looking good
Dafizeck Daud | 04 Jan 2019 00:30
Malaysia’s peer-to peer (P2P) financing industry continues to mature after the initial six licences issued by the Securities Commission Malaysia (SC) in 2016 as more investors and borrowers are becoming aware of this innovative financing facility.
For instance, in 2019, the industry is expected to continue thriving with an anticipated 300% growth to RM300 mil versus RM100 mil last year, says Funding Societies Malaysia CEO Wong Kah Meng.
Against the backdrop of the Budget 2019 announcement suggesting a more proactive role for P2P financing in alleviating the financing gap encountered by the micro, small and medium enterprises (SMEs) as well as first-time home buyers, prospects are bright for growth acceleration, he adds.
Apart from Funding Societies, the other P2P lending platforms in Malaysia are B2BFinPAL, Ethis Kapital, FundedByMe Malaysia, Peoplender and ManagePay Services.
A recent report by Transparency Market Research (TMR) indicates that the global P2P market is to see significant growth, mainly due to an increasing number of borrowers.
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