Lists of alternative financial services

Consume(er)ium list of alternative financial services lists

Spectrum of consumer finance

Predatory lending -> Payday loan -> Consumer finance -> Peer-to-peer loan -> credit card debt -> bank loan

What is alternative finance?

“Alternative Finance refers to financial channels and instruments that have emerged outside of the traditional finance system such as regulated banks and capital markets. Examples of alternative financing activities through 'online marketplaces' are reward-based crowdfunding, equity crowdfunding, peer-to-peer consumer and business lending, invoice trading third party payment platforms.”

~ Wikipedia on alternate finance

What are alternative financial services?

This is the Consume(er)ium list of w:alternative financial services lists.

“Alternative financial services (AFS) are financial services provided outside traditional banking institutions, on which many low-income individuals depend. In developing countries, these services often take the form of microfinance. In developed countries, the services may be similar to those provided by banks and include payday loans, rent-to-own agreements, pawnshops, refund anticipation loans, some subprime mortgage loans and car title loans, and non-bank check cashing, money orders, and money transfers. It also includes traditional moneylending by door-to-door collection.”

~ Wikipedia on alternative financial services

Often the spectrum ranges from brute loan sharking in operations known as w:payday loans all the way to almost respectable interest taking of non-collateralized loans.

What is APR, why does it matter?

“APR stands for the annual percentage rate.”

~ everyone on annual percentage rate

“[...] In many countries and jurisdictions, lenders (such as banks) are required to disclose the "cost" of borrowing in some standardized way as a form of consumer protection. APR is intended to make it easier to compare lenders and loan options.”

~ Wikipedia on annual percentage rate

“In EU all loaning operations must show the APR for their example loans that they use to market their services.”

~ European Parliament on law regarding advertisement of loans

• APR can range from hundreds of percent to few tens of percent. Credit card debt is usually in the 10-15% zone.

Peer-to-peer lending

“Peer-to-peer lending, abbreviated P2PL, is the practice of lending money to unrelated individuals, or "peers", without going through a traditional financial intermediary such as a bank or other traditional financial institution. P2PL is not to be confused with peer to peer investing (P2PI). This lending takes place online on peer-to-peer lending companies' websites using various different lending platforms and credit checking tools. Many also use the abbreviation "P2P" when discussing the peer-to-peer lending or investing industries more generally. Peer-to-peer lending is also known as crowdlending.”

~ Wikipedia on peer-to-peer lending

Microfinance and microcredit

“Microfinance is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services.”

~ Wikipedia on microfinance

“Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history.”

~ Wikipedia on microcredit

More reading Impact of microcredit

• https://www.zidisha.org/ - microcredit w:Zidisha

Socially responsible investing

“Socially responsible investing (SRI), also known as sustainable, socially conscious, "green" or ethical investing, is any investment strategy which seeks to consider both financial return and social good.”

~ Wikipedia on socially responsible investing

“An ethical bank, also known as a social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. The ethical banking movement includes: ethical investment, impact investment, socially responsible investment, corporate social responsibility, and is also related to such movements as the fair trade movement, ethical consumerism, and social enterprise.”

~ Wikipedia on ethical bank

Asia

List of P2P financial services in Australia

• https://www.societyone.com.au/

List of P2P financial services in China

• China Rapid Finance
• CreditEase
• https://www.lu.com/ - w:Lufax
• Tuandai
• DianRong
• https://m.wolaidai.com/ by http://www.welab.co/

List of P2P financial services in Honk Kong

• https://www.welend.hk/ by http://www.welab.co/

List of P2P financial services in India

• http://i2ifunding.com

List of P2P financial services in New Zealand

• https://www.harmoney.co.nz/ - w:Harmoney

List of P2P financial services in Singapore

• https://www.fundingsocieties.com/

Europe

Lists of P2P financial services in Europe

• Top 15 European peer-to-peer lending services list by crowdfundbeat.co.uk

Estonia

List of P2P financial services in Estonia

• https://www.bondora.ee/
• Estateguru (2014), Crowdestate (2014), MoneyZen (2014), Investly (2014) and Fundwise (2015).

Finland

List of Finnish alternative financial services lists

• http://www.kuluttajaluotot.com/
• http://www.lainaa-netista.com/
• http://vippi.biz/vippivertailu/

List of P2P financial services in Finland

• https://www.bondora.fi/
• http://www.fellowfinance.fi/
• https://fixura.fi/
• https://www.lainaaja.fi/
• https://www.trustbuddy.fi/ by TrustBuddy AB (NO)

Lists of P2P financial services in Finland

• http://www.tuntitili.fi/vertaislaina

List of alternative investment schemes in Finland

• Funds accumulated by http://korkeatuottoinen.fi/ are being lent out as consumer and business finance by http://lainasto.com . They claim the preferred shares of lainasto.com are paid interest an 8% yield, paid 12x a year by korkeatuottoinen.fi.

France

List of P2P financial services in France

• http://friendsclear.com/ - entre entrepreneurs et investisseurs
• https://www.pret-dunion.fr/ crédit « entre particuliers » w:fr:Prêt d’Union -

Germany

List of P2P financial services in Germany

• https://www.auxmoney.com/ - Geld leihen, Geld anlegen

Italy

List of P2P financial services in Italy

• http://prestiamoci.it/
• http://www.smartika.it

UK

• w:Office of Fair Trading
• http://p2pfa.info/ - Peer-to-peer Finance Association of UK

Lists of P2P financial services in UK

• https://www.assetzcapital.co.uk/ w:Assetz Capital
• https://www.folk2folk.com/ w:Folk2Folk
• https://www.fundingcircle.com/uk/ - investor-to-business loans w:Funding Circle
• https://www.fundingknight.com/
• https://www.ratesetter.com/ - w:RateSetter
• https://www.rebuildingsociety.com/ small business loans w:rebuildingsociety.com
• https://www.thincats.com investor-to-business loans w:ThinCats
• http://www.zopa.com/ by w:Zopa Limited. The oldest P2P lending site on Planet Earth

Lists of P2P financial services in UK

• http://www.p2pmoney.co.uk/companies.htm
• Guardian profiled major peer-to-peer lenders in 2014 story

North America

USA

• http://www.consumerfinance.gov/
• http://www.responsiblelending.org/
• http://cfsaa.com/ - The Community Financial Services Association of America (CFSA) is trade association representing the interests of the USian payday lending industry.

• More reading alternative financial services in the United States

Lists of P2P financial services in USA

• https://www.fundingcircle.com/us/ - investor to business loans
• https://www.lendingclub.com/ - w:Lending Club
• https://www.prosper.com/ - w:Prosper Marketplace
• https://www.upstart.com/ w:Upstart (company)