| By Jim Bruene on January 8, 2009 1:28 PM | Comments (0) |
Just when it looked like U.S. regulators were about to kill the market for P2P lending, a new entrant is about to launch. Apparently, with the full blessing of government watchdogs.
Pertuity Direct, originally scheduled to launch at our Oct 14 Finovate conference, is about to go live with a new approach to P2P lending. In an off-the-record discussion with founder Kim Muhota and marketing director Lisa Lough yesterday, I learned about their novel approach to make the service appeal to borrowers, investors, AND regulators. It could be the model for the industry going forward.
While I'll reserve judgement until I can actually use the service (it's still in private testing), I'm impressed with the company's thinking and encouraged that it appears to have successfully navigated the regulatory minefield and will make it off the ground in early 2009.
We'll cover it in more detail at launch.
Note: For more info on the market, see our Online Banking Report on P2P Lending.
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