THE NEW trade body for peer-to-peer lenders has confirmed that it will not publish regular member loanbook data.
Its predecessor, the Peer-to-Peer Finance Association (P2PFA), previously published loanbook data every quarter, showing the levels of new and cumulative lending as well as the number of borrowers and investors for the UK’s largest P2P platforms.
The figures showed how members such as Zopa, Funding Circle and Lending Works were growing their loanbooks, investors and borrowers rather than just focusing on total lending data or rates on offer.
However, a spokesperson for the new 36H Group confirmed to Peer2Peer Finance News that it does not plan to publish data each quarter.
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The new Financial Conduct Authority (FCA) regulations stipulate that firms must make their lending data more transparent and accessible, but the removal of P2PFA lending data means investors will now have to search each individual platform rather than access the information in one place.
Investors can access some information on returns and lending volumes from analytics firm Brismo but users have to pay to delve deeper into platform performance.
Zopa, Funding Circle, RateSetter, Lending Works and CrowdProperty have all become founding members of the new 36H Group, which sets within fintech trade body Innovate Finance and is open to all P2P lenders.
The 36H Group will focus on policy and regulatory matters, as well as promoting the benefits the sector is delivering; including bringing choice, competition and transparency to the lending and investment markets.