Lendtechs – a new lending culture

Lendtechs – a new lending culture

According to the data of BIK and KPF [Conference of Financial Companies], Poles do not consider diligent debt repayment their moral obligation. The percentage of people in debt is also going up year by year. However, this problem does not affect people using the services of online lenders. According to LOANDO Group calculations, this sector is growing every year in terms of the percentage of consumers paying their debts over time and is close to the European standard. Krzysztof Przybysz, LOANDO Group CEO, spoke more about this in a piece for BANK, a financial monthly magazine. 

 

The online lending sector, or lendtechs, is creating a completely new culture of lending in Poland. LOANDO Group experts argue that if we want to raise the general level of financial morality of Poles, it is worth taking care of and developing this sector of the economy.

Krzysztof Przybysz, LOANDO Group CEO, commented: The highest level of social acceptance is enjoyed by immoral behaviours connected with unreliable repayment of debt. More than a half of Poles do not condemn such behaviour and consider it harmless. We need a profound change of mentality. The lendtech industry, whose customers are a model example of correct attitude towards debt repayment, can help us in this respect. I am sure that such a change in thinking will contribute to condemning other unfair financial behaviours, such as using someone else’s identity card to fraudulently get a loan or inflating the value of the damage suffered in order to get unjust compensation.

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