Lendtechs are modern technologies, which can be divided into two types. On the one hand, they are non-banking undertakings, mostly operating as online loan companies. These companies, thanks to the complete automation of processes, give consumers the opportunity to take up a loan 100% online. The second type of lendtechs are technologies used for further development of the banking sector, in particular those broadening the credit offer.
You can read about the importance of this new phenomenon in the newest edition of the BANK monthly magazine. The article “Ledtechs on their way” [PL: Nadchodzą lendtechy] by LOANDO Group explains the impact of these processes on the further development of financial markets in Europe.
The stage at which the lendtechs are in a given country depends on many factors. The key factor here is the level of development of financial sector services. Due to that, more or less space is left for non-banking financial services. A lot also depends on the technological level – the less advanced banking, the higher the demand for technologically advanced services offered by fintech start-ups – comments Tymon Zastrzeżyński, LOANDO Group CEO&Co-founder.