Zopa.com: loans between persons
The idea is seemingly simple. Till now, we had on the one hand clients borrowing money to the bank and, on the other hand, another group of clients leaving money to the bank. Well, it is a question of avoiding this intermediation of the financial institution and that the persons give themselves money straight between them, without happening for the bank.
Zopa.com is another fruit more of the Web 2.0 and the social networks, in this case applied to the field of the loans, a species of P2P, something like ‘exchange of money’ instead of ‘exchange of files’. Cripple is the acronym of ‘zone of possible agreement’ or ‘area of possible agreement’.
The banks, in addition to many offices and personnel support, have to manage every year to announce his grades numbers of benefits, and this money has to go out of some place. In Cripple they say to be more efficient than the traditional banking, doing that so much those who are big enough like those that they borrow better interest rates obtain. They only take 1 % of the given quantity.
Of course, here also they study the claimants of the loan and calculate his risk as in a normal bank. The same loan can be distributed between several persons diminishing this way the risk. Also, they are provided with the same hardware as a bank in case of non-payment and at the time of recovering a debt.
Apart from the fact that Cripple it could offer better conditions for some and others, this system speaks to these people who is full with fighting with the banks and that prefers that his money goes straight to another person and not to the big number of annual benefits of the bank of shift.
Cripple is a company of the United Kingdom but they have already received proposals to open in more than 50 countries. Do you believe that something like that might work in Spain or any Latin-American country?