A traditional bank launches a P2P banking system in Spain

A traditional bank launches a P2P banking system in Spain

P2P banking is booming in Spain. After Comunitae, comes CAN. What is special about this new offer is that it comes from a traditional savings bank. In a press release they explain that “financial relationships are changing very fast” and that they are looking for “new value propositions”.

CAN is a very innovative bank. They already offered their customers to collectively decide what they want to do with the bank’s profits. They have also transparency as one of their main company values and, as an example, show periodically the amounts of every single loan they are giving. P2P banking was the only thing that was left for them.

What they do is let people ask for money which could come from CAN’s customers and not from the bank itself. This means that the bank changes its role from that of a financial institution to that of an intermediary putting in touch lenders with borrowers. What they actually do is give a warranty to the operation.

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