The company operates a lending service for members, allowing investors to spread investments as loans at convenient interest rates. To date, hundreds of borrowers have borrowed some $10 million through BLender. Read more.
Shaked’s proposed bill will effectively abolish the inequalities existing in the market today, which enables traditional institutions to provide credit with no cap on the interest rate, and correct the fundamental distortion resulting from the banks and credit card companies’ ability to join forces. Read more.
BLender’s business model is not built on arbitrage of the differential between the interest paid by the borrower and that received by the lender. BLender takes a commission of 2.5%, or at least NIS 200, from the borrower, plus a fee of one percent of the returns of the lender, spread over the lifespan of the loans, for an actual total of around 0.4% during the year. Read more.
BLender’s hybrid model creates credit ratings based on financial, social, and demographic background to upend the banks’ foothold on peer-to-peer lending—and empower emerging markets. Read more.
BLender is one of the few websites in the world, and the only one in Israel, that enables the buying and selling of existing loans. Any lender may sell his/her loans to other lenders. In other words, if you want to get back the money you lent, you simply put the loan up for sale on BLender…at any point during the lifetime of the loan. Learn more on Economic Night.
Dr. Gal Aviv, CEO and founder of BLender: “Once we identified lenders’ need flexibility, liquidity and control over investment periods of investment, we decided to develop a unique technology that allows liquidity. This is a revolution in the savings and credit markets. The secondary market created through BLender’s Re-Blend will greatly increase the number of lenders whose needs may be met through the platform, offering a flexible savings option with an average return of 6% annually. It is a high-quality alternative to the savings options available in the market today, especially given the current zero interest rate period.” Read more.
According to Aviv, “BLender aims to lead the non-bank loan market and to present an attractive, convenient and modern alternative to the traditional lending market, which uses advanced technology and makes it easy for both borrowers and lenders. Our new and innovative development puts BLender on par with the world’s leading platforms, like Zopa and Lending Club.” Read more.
Household lending has always been a cash cow for banks and credit card companies. A cursory examination of their sources of income reveals that this area accounts for a significant portion of their income. Therefore, it is clear that it is difficult for them to say goodbye to their hegemony in the field…
The consumer loans domain represents the most active and profitable area in the banking system, noted Dr. Gal Aviv, CEO of Blender in a lecture on P2P lending at the second Adif Conference for Financial Institutions. Read more.
The interim report of the Committee on the proposed Credit Data Law, which is expected to be released in the coming days has already raised a storm in the banking sector. Some argue against publishing credit ratings, saying that they will hurt those with low ratings, while others argue that, on the contrary, everyone will benefit including and especially the weak. Read more.
