TY - JOUR
T1 - P2P lending survey
T2 - Platforms, recent advances and prospects
AU - Zhao, Hongke
AU - Ge, Yong
AU - Liu, Qi
AU - Wang, Guifeng
AU - Chen, Enhong
AU - Zhang, Hefu
N1 - Funding Information:
This research was partially supported by grants from the National Key Research and Development Program of China (Grant No. 2016YFB1000904), the National Science Foundation for Distinguished Young Scholars of China (Grant No. 61325010), and the National Natural Science Foundation of China (Grants No. U1605251 and 61672483). Qi Liu gratefully acknowledges the support of the Youth Innovation Promotion Association of CAS (No. 2014299)
Publisher Copyright:
© 2017 ACM.
PY - 2017/7
Y1 - 2017/7
N2 - P2P lending is an emerging Internet-based application where individuals can directly borrow money from each other. The past decade has witnessed the rapid development and prevalence of online P2P lending platforms, examples of which include Prosper, LendingClub, and Kiva. Meanwhile, extensive research has been done that mainly focuses on the studies of platform mechanisms and transaction data. In this article, we provide a comprehensive survey on the research about P2P lending, which, to the best of our knowledge, is the first focused effort in this field. Specifically, we first provide a systematic taxonomy for P2P lending by summarizing different types of mainstream platforms and comparing their working mechanisms in detail. Then, we review and organize the recent advances on P2P lending from various perspectives (e.g., economics and sociology perspective, and data-driven perspective). Finally, we propose our opinions on the prospects of P2P lending and suggest some future research directions in this field. Meanwhile, throughout this paper, some analysis on real-world data collected from Prosper and Kiva are also conducted.
AB - P2P lending is an emerging Internet-based application where individuals can directly borrow money from each other. The past decade has witnessed the rapid development and prevalence of online P2P lending platforms, examples of which include Prosper, LendingClub, and Kiva. Meanwhile, extensive research has been done that mainly focuses on the studies of platform mechanisms and transaction data. In this article, we provide a comprehensive survey on the research about P2P lending, which, to the best of our knowledge, is the first focused effort in this field. Specifically, we first provide a systematic taxonomy for P2P lending by summarizing different types of mainstream platforms and comparing their working mechanisms in detail. Then, we review and organize the recent advances on P2P lending from various perspectives (e.g., economics and sociology perspective, and data-driven perspective). Finally, we propose our opinions on the prospects of P2P lending and suggest some future research directions in this field. Meanwhile, throughout this paper, some analysis on real-world data collected from Prosper and Kiva are also conducted.
KW - Micro-finance
KW - Online loans
KW - P2P lending
KW - Platforms
KW - Prospects
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UR - http://www.scopus.com/inward/citedby.url?scp=85026676655&partnerID=8YFLogxK
U2 - 10.1145/3078848
DO - 10.1145/3078848
M3 - Review article
AN - SCOPUS:85026676655
SN - 2157-6904
VL - 8
JO - ACM Transactions on Intelligent Systems and Technology
JF - ACM Transactions on Intelligent Systems and Technology
IS - 6
M1 - 72
ER -