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Back-Up Service Provider for Peer to Peer Financing
Back-Up Service Provider for Peer to Peer Financing
Peer to Peer Lending.
Appointed as Back-Up Service Provider (BUSP) and to be on stand-by to take over the administration of the Peer to Peer (P2P) platform in the event the P2P is unable to continue its operations.
P2P lending is the loaning of money to individuals and businesses through online platforms run by investors.
The process involved fewer checks and balances than traditional banks and promised a higher return than traditional investments with interest rates based on risk profiles, but also with a higher risk.
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