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From Social Networking to Social Finance

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How 1 billion Facebook users could change the face of the banking system

What would happen if you could globally assemble 1 billion people and turn it into peer-to-peer lending?  In 2012 the number of people on Facebook could reach 1 billion.

Suppose the next step up from Social networking is social finance – The Bank of Facebook?

Check out this vide on an intriguing idea
http://www.youtube.com/watch?v=XT6b_jXsN6M

There is a model already in place…

Zopa is the world’s first social finance company. In 2005 we pioneered a way for people to lend and borrow directly with each other online as part of our continuing mission to give people around the world the power to help themselves financially at the same time that they help others.

Since then, we’ve expanded across the world. In each country Zopa is a little different, but it’s always the same big idea.

Why not see for yourself?

http://us.zopa.com

Check out how the stats on how Zopa is doing here – http://uk.zopa.com/ZopaWeb/public/lending/meet-dave.html
On the link above you can download “Get Market Data” into EXCEL and see who is lending and at what rates of interest.

Read more –

http://www.fool.co.uk/news/investing/investing-strategy/2009/09/14/earn-6-as-a-money-lender.aspx
http://www.hexham-courant.co.uk/news/business/lending_scheme_sidesteps_banks_1_616495?referrerPath=home
http://www.thisismoney.co.uk/savings-and-banking/article.html?in_article_id=491111&in_page_id=7

Bottom line for this one is (from Zopa) – “Your money helps real people, rather than banks.”
Welcome to the world of Innovation enabled by the Internet and Social Networking.

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Written by frrl

March 18, 2010 at 5:05 am

Posted in Uncategorized

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