Ventureburn interviews RainFin CEO Sean EmeryJun 22, 2017 Blog Online Lending
Sean Emery explained that although consumer lending made up half of RainFin’s platform activity, since the new National Credit Regulations threshold came into place, the consumer lending has dropped to almost zero.
The new threshold requires any lender who would wish to lend even one cent to consumers has to be registered with the National Credit Regulator in order to do so.
Emery does still believe that online lending platforms still have a bright future. “We think that marketplaces are going to be the only way that new credit is injected into the economy,” says Emery.
You can read the full article on Ventureburn here.