Bìznes Inform (Sep 2022)

The P2P Crediting as an Innovative Tool for Credit Market Development: The Foreign Experience and Opportunities for Ukraine

  • Matseliukh Yuliia V.

DOI
https://doi.org/10.32983/2222-4459-2022-9-82-87
Journal volume & issue
Vol. 9, no. 536
pp. 82 – 87

Abstract

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In today’s conditions, when small and medium-sized businesses need significant financial investment support in Ukraine, it is P2P plaffers that can act as an effective credit tool that will represent an alternative to existing banks. Over the world, P2P and P2B ecosystems have already been created, standardized and are actively used to stimulate the economy. The purpose of the article is to study the foreign experience in the development of the Peer-to-Peer (P2P) crediting system to isolate and further take into account the possible potentially positive and negative effects of the promotion and distribution of P2P platforms in the financial market in Ukraine. P2P crediting is considered as one of the fastest growing forms of investment without the participation of credit institutions, but which is currently experiencing a legal vacuum due to the lack of special regulations that will establish the legal status, rights, obligations, responsibilities and guarantees of participants in mutual financing. The formation of peer-to-peer crediting in some countries, such as Great Britain, the USA, China, Sweden, Germany, Spain, Estonia, is analyzed. Based on the carried on analysis, it was determined that abroad the P2P crediting system is in the state of constant development. As a result of the study, it was determined that this type of crediting has good prospects for development in Ukraine. The main proposals for accelerating the paces of development of P2P crediting are highlighted as follows: creating a stable and balanced regulatory framework; continuation of work to improve the financial literacy of the population (in terms of awareness of P2P crediting); creation of incentives for cooperation of traditional financial institutions with crowdlanding platforms in order to increase the level of cooperation and interaction of financial market participants.

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