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Accenture and Gemius published a report concerning social lending research
2008-07-26
Will social lending threaten the traditional credit services provided by banks mediating between those who make investments and those in demand of a loan? Accenture in cooperation with Gemius has published a report revealing the attitude of Polish Internet users towards this new phenomenon on the Polish market.
Three web pages which enable Polish Internet users in Poland to invest and lend money without any mediations are already available. In the questionnaire carried out by Accenture and Gemius 27% of the respondents declared that they have heard about social lending.
Among the people who have heard about the conception of social lending, one fourth would consider taking this opportunity into consideration if they had to take a loan. This is more than in case of swift suppliers of cash credits and SKOKs (12% and 15% respectively). However, 8.5% in this group would take under consideration the investments in social lending.
An attractive interest rate and more chances to obtain a loan draw the attention of Internet users, according to the research. Comparing social lending with existing offers reveals the fact that institutions granting loans and being present on the market have begun to worry.
The risk control of social lending will be a challenge for the services. People interested in taking a loan often had problems with regulation of the covenants. Especially, the percentage rate of those having financial commitments for more than 90 days is twice as higher.
Why do participants of the social lending market want to invest? The results of the research indicate that the main reasons of investments are very pragmatic, or in other words, the financial terms are more useful than those offered by different financial institutions. Among interested in investments emotional and altruistic messages such as the ability to help other people are ranked relatively high.
As the research indicates, first of all potential investors expect from social lending portals protection against fraud, easy control of granted loans and an efficient system of vindication. On the other hand, loan takers hope to obtain the money quickly, receive attractive interest rate, and convenient repayment, they also care less about their anonymity.
Both potential investors and loan takers often visit the auction service site Allegro.pl. The second most visited site is nasza.klasa.pl, however in this case a relatively small percentage of the users are interested in taking out a social loan.
The report is available at:
Polish version: http://pliki.gemius.pl/Raporty/2008/2008_Social_lending_in_Poland_2008_PL
English version: http://pliki.gemius.pl/Raporty/2008/2008_Social_lending_in_Poland_2008_EN
The research was carried out at the end of April 2008 on the basis of 1200 Internet users.
Accenture is a global management consulting, technology services and outsourcing company. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. With 178,000 people in 49 countries, the company generated net revenues of US$19.70 billion for the fiscal year ended Aug. 31, 2007.
Gemius SA is the largest online research agency in Central and Eastern Europe. The company has been dedicated to Internet market research since its founding in 1999. By focusing the business on maximizing credibility, quality and accuracy the company has been able to grow into the largest online market research agency in Central and Eastern Europe in less than 5 years. Gemius SA provides a wide range of Internet research products to brand name clients throughout Eastern Europe. Gemius provides data on Internet users' behavior (gemiusTraffic), Internet audience profiles (gemiusProfile), or online advertising campaign effectiveness (gemiusEffect). Gemius' gemiusAudience research is the online advertising currency across Eastern Europe, where by working with key joint-industry committees and other market players Gemius provides accurate, high-quality measurement of online audiences for media planners, buyers and sellers.
Press contact:
Accenture Sp. z o.o. Gemius SA
Magdalena Sawicka Aleksandra Teodorczyk
magdalena.sawicka@accenture.com aleksandra.teodorczyk@gemius.pl
Tel. (022) 528 80 00 Tel. (022) 874 41 00
Download the complete version in the Word file