Jeremy Gutsche and Trend Hunter were recently featured in The Independent. The article speaks largely about the economy and things to come in 2008. The quote referenced was, “Borrowing will change dramatically, says Jeremy Gutsche of the forecaster Trend Hunter, who predicts the growth of “peer-to-peer” banking. Under this system, borrowers and lenders are introduced to each other through websites and make private arrangements, cutting out the banks entirely. Some are friends, others strangers who bid in an eBay-style auction for the best interest rates. Admittedly, this is unlikely to happen quickly or stop the continuing growth in the gap between rich and poor.”
1. Peer-to-peer Banking - Disruptive innovation opportunity: Develop a platform that connects borrowers and lenders directly, bypassing traditional banks and facilitating private arrangements.
2. Private Arrangements - Disruptive innovation opportunity: Create a digital marketplace where borrowers and lenders can negotiate loan terms and interest rates, similar to an eBay-style auction.
3. Alternative Financing - Disruptive innovation opportunity: Establish a platform that offers alternative financing options, such as crowd lending or social lending, to address the rising wealth gap and provide access to financial services for underserved populations.
1. Banking - Disruptive innovation opportunity: Reinvent the traditional banking model by creating a digital platform that enables peer-to-peer lending and eliminates the need for intermediaries.
2. Fintech - Disruptive innovation opportunity: Develop innovative financial technologies that promote transparency, efficiency, and inclusivity in lending and borrowing processes.
3. Ecommerce - Disruptive innovation opportunity: Build an online marketplace for loan transactions, allowing borrowers and lenders to connect directly and negotiate terms without the involvement of traditional banks.