Cooperation and automation are in focus of the financial market
On the 16th of March, Robo.cash contributed to the European conference LendingUP! speaking about complementary models and options of marketplace lending for enhancing the customer proposition. According to the financial experts of the traditional banking and P2P lending markets who gathered at the conference together, cooperation between banks and fintechs, smart automated and transparent solutions will stay in focus.
The conference LendingUP! was held in Prague on March 15-16, 2018 and brought experts from traditional banks, fintechs and MPL platforms. Participants discussed the existing landscape of the lending market, its opportunities and perspectives for partnership between market players and the challenges brought by the growing digitization.
The Latvia-based P2P platform Robo.cash became one of the partners and spoke about complementary models and options of marketplace lending for enhancing the customer proposition. The example of the financial group which apart from the investment service also includes PDL lending companies in Spain, Kazakhstan, Russia and the Philippines proves that MPL platforms greatly complement to the core banking model providing lending to people and enterprises unable to obtain a bank loan. At the same time, there is an evident growing significance of cooperation between banks and fintechs thanks to mutual benefits it brings: platforms get access to a strong customer base and banks benefit in digitization.
Furthermore, the case study of Robo.cash working according to the “peer-to-portfolio” model serves as an example how microfinance business can attract cross-border investments for its further expansion with bearing low additional costs thus supporting cheaper lending, better margin profits and sustainable supply of loans for the population.
“The demand for non-banking financing and lending will continue to increase. However, it is the better user experience which is expected to drive success in the financial market in the future. In order to keep pace with the market and gain momentum, banks and fintechs should focus on smart automated and transparent solutions providing a wider range of opportunities,” - commented Olga Davydova, Public Relations Manager at Robo.cash, who represented the platform at the conference.