The elements of the Peer-to-peer (P2P) lending system

Abstract

Peer-to-peer (P2P) lending systems have gained governments' attention to create an inclusive society, but establishing such systems remain challenging. Specifically, the elements making up such a system are not known. This research aims to understand the main elements of P2P lending systems and their interconnections. For this, we conducted a Systematic Literature Review to investigate the elements that build the complex arrangement of the P2P lending system. Our review identified five categories of elements that build an integral part of the P2P lending system: Data and Processing, Business, Organizational, Policy and Governance, and Culture. Although technical aspects have gained much attention, social aspects need to be considered carefully. We conclude that P2P lending systems are context-dependent. Moreover, the interaction and the combination of each element influence the whole design of the system. These elements can assist the government in designing a socially accepted P2P lending system that contributes to an inclusive society.