Regional Comprehensive Economic Partnership

Financial Technology Innovation - Peer-to-Peer (P2P) Lending in the RCEP Member States

Author(s): Rayna Kartika *

Pp: 93-112 (20)

DOI: 10.2174/9789815123227123010010

* (Excluding Mailing and Handling)


Regional Comprehensive Economic Partnership (RCEP) aims to strengthen the economy and the free trade agreement among 10 ASEAN member states (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam) and five partner states (China, Japan, South Korea, Australia, and New Zealand). One of the ways to improve economic growth is to enhance the investment sector into start-ups and SMEs. Peer-to-peer lending platforms exist to ease the mechanism of funds lending and borrowing from investors to start-ups and SMEs. Currently, the rise of P2P lending, particularly in RCEP member states, has boosted the economic growth and development of technology. The government assistance in setting up the regulation regarding the mechanism of P2P lending has been carried out in order to create a clean and transparent practice of P2P lending among borrowers and lenders. Therefore, this chapter describes the introduction of RCEP member states and P2P lending and the mechanism for adopting P2P lending platforms in RCEP member states. P2P is indeed a platform that RCEP members can practice. However, the risks must be considered and addressed in order to prevent threats to their economic growth.

Keywords: Borrowers, Economic Growth, Lenders, Peer-to-peer Lending, RCEP.

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