Abstract
Innovation in lending practices has challenged the monopoly of banks. Peer-to-peer lending, commonly referred to as P2P lending, has gained attention of non-bank financial institutions and other stakeholders. To examine the research trends in peer-to-peer lending, publications during 2013 to 2023 were analyzed. The Scopus database was used in the study to gather pertinent literature, while VOS viewer software is employed to visualize bibliographic information. The findings demonstrate that since 2010, peer-to-peer lending research has grown significantly, with a sizable portion of articles coming from the United States, the United Kingdom, and China. The study examined peer-to-peer lending research, covering key issues, authors, organizations, and research methodologies employed in this area. For scholars, decision-makers, and professionals interested in the P2P lending, the study's findings will be useful to develop future research agenda.
TopReview Of Literature
P2P is a service for borrowing and lending directly based on information technology between lenders and borrowers, with all transaction processes completed online through a platform (Suryono et al., 2021; Wang et al., 2015). In contrast to traditional financial institutions, P2P enables direct dealing between two interested parties (Suryono et al., 2021).
P2P is thought to be a relatively high-return investment, but choosing a platform to use requires consideration of each investor's profile, risk tolerance, and management skills (Suryono & Indra, 2020). Understanding the risks becomes the crucial screening process for P2P. The creditworthiness of the borrowers is the significant determinant in P2P (Ding et al., 2019).
Research by Ribeiro-Navarrete (2022) claims that convenience, mobile compatibility, rejection from banks, immediate requirement of funds are significant determinants of P2P. As a result, the prevalence of P2P is also referred to as having an impact on the public's loss of faith in the banking industry (Abubakar & Handayani, 2018).