More than just home loans
As the major banks have focussed predominantly on residential lending and withdrawn from lending to SMEs, they've created a market space for a plethora of new lenders, each with their own niche. Often cast as "disruptors" - they're just a natuaral progression in the finance indusry - just as the mortgage managers were in the 80s and 90s.
Do they have a place in business finance? - Definitely.
Wiill they survive long term? - some will, others will fall by the wayside. Still others will be taken over by the banks.
Where do they fit?
What are the benfits?
What are the downsides?
** Fintech marketplace roadmap courtesy of KPMG