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  • Peer-to-peer loans are more appealing than money from the bank
  • Peer-to-peer loans are more appealing than money from the bank
    Shandi-lee Cox, Creative Commons (2012) ©
CASE STUDY

SocietyOne: young Aussies borrow crowdfunded cash

For a generation of young Australians, traditional banking models are losing their lustre, and the financial sector is getting a digital shakedown. Whether you need a loan to buy livestock or help through medical school, peer-to-peer lender SocietyOne is offering a different solution.

Location Australia

Scope
With 68% of Gen Y believing the way we access money in five years will be totally different – and 33% thinking that we won’t have banks at all – the way young people invest, lend and borrow is changing. [1] For young Aussies, a non-partisan, people-powered approach built on digital dynamism is driving this, and new banking methods, such as Sydney-based SocietyOne, are gaining momentum.

Founded by Matt Symons, an entrepreneur and angel investor, and Greg Symons, a financial banking developer, SocietyOne was developed after the pair witnessed the success of P2P in the UK and US, ...

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