The internet has changed many things around us. Almost nobody buys audio or video CDs today; we get them online or on Netflix at a fraction of the cost. When was the last time you met someone who sent his/her résumé through post? We all send it at no cost, through job portals/boards. We are all adopting a similar methodology to book a holiday, movie, air tickets, or e-books. Similarly, in future, we won’t be using brick-and-mortar financial institutions to borrow or deposit money.

Instead, we will rely on cost-effective online peer-to-peer (P2P) lending companies.