Israeli peer-to-peer (P2P) lending platform Tarya has announced the launch of their new site. The P2P lender is placing an emphasis on “stringent underwriting algorithms” to provide a platform for people to invest in fellow community members who require consumer credit.
Tarya sees Israel as the “start-up nation” but too dependent on an antiquated financial system “which has no means for objective and transparent credit-scoring”. Tarya sees the effects of P2P and crowdfunding FinTech is substantial and radical.
The young company is of the belief that “the venture has the potential to change the structure of the credit market in Israel: As of late there has been local social unrest and public opposition to the conduct of the banking institution – elevating the need for more affordable loans with attractive investment opportunities.”
Tarya is headed by a team of experts in fraud technology and banking regulation, and they intend on becoming a major player in the Israeli Crowdfunding transformation.
“Consumer crowdfunding is a fast emerging domain that is not only disrupting the current financial models, but also adding new capital to a stagnant market. We are now witnesses of the buds of the financial revolution and aim at taking a major stake of the investment market. Our strategy to achieve this is by growing fast, and making sure that on every step we take – trust, quality and transparency are principal.”