Global credit markets are changing with technological advancements. New intermediaries have developed despite the existence of traditional lenders like banks, credit unions, and capital markets. Digital lending models similar to peer-to-peer and marketplace lending are becoming in-demand in major and minor economies within recent times. These credit types, which are enabled online rather than traditional banks or lending companies, are known as “fintech credit”, and within the last few years, large tech firms have joined credit markets and have provided “big tech credit” directly or in partnership with financial establishments.
This publication is part of the BIS Working Papers Series produced by the Bank for International Settlements, alongside the Cambridge Centre for Alternative Finance and authored by Giulio Cornelli, Jon Frost, Leonardo Gambacorta, Raghavendra Rau, Robert Wardrop and Tania Ziegler.