21 September 2017
visit www.avoka.com

Rabobank to build online P2P platform linking private banking customers with SMEs

15 June 2016  |  14221 views  |  2 Rabobank Head office building entrance

Rabobank is to run trials of P2P lending, connecting high net worth customers with businesses in need of financing.

The Dutch bank is building an online platform (Rabo & Co) that brings together businesses and Private Banking customers. Businesses place their financing request on the platform and Private Banking customers state which loan they wish to co-finance. In the six-month trial phase, Rabobank will provide at least 50% of every loan.

To participate, investors must have freely investable assets of at least EUR1 million and take out a minimum share of EUR100,000 at any one business. The businesses taking part in the trial are all Rabobank customers in the growth phase and are seeking financing for expansion or refinancing.

Rien Nagel, member of the executive board of the bank, comments: "We were established in the past to link wealthy farmers to farmers needing money. What we are going to do now is similar: the money will now go directly from the high net worth individual to the business in need of funds. Rabobank will still manage the financing as the go-between and main participant, but without fully using its own balance sheet. If the platform is successful, we intend to open it to institutional investors as well."

Comments: (2)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India | 15 June, 2016, 15:43

Good to see banks learning  to become Platform providers such as GAFA (Google, Apple, Facebook, Android).

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 15 June, 2016, 18:54

Great offering! Banking is one of the oldest platform providers - take money from depositors on one side and lend money to borrowers on the other!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Rabobank to lay off 9,000 staff

Rabobank to lay off 9,000 staff

11 December 2015  |  6887 views  |  0 comments | 10 tweets | 7 linkedin
Rabobank rolls out mobile wallet

Rabobank rolls out mobile wallet

12 February 2015  |  12521 views  |  9 comments | 16 tweets | 17 linkedin
Rabobank to hold Dutch fintech hackathon

Rabobank to hold Dutch fintech hackathon

04 June 2014  |  8685 views  |  0 comments | 11 tweets | 5 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.capgemini.comdownload the paper now

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
11669 views comments | 24 tweets | 41 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10620 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9335 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7889 views comments | 5 tweets | 4 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
7761 views comments | 18 tweets | 26 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job