From ::  http://www.p2pfinancenews.co.uk/2019/07/01/younger-generation-p2p-lending-caci/

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Younger investors considering P2P lending, says new report

Younger investors considering P2P lending, says new report

THE YOUNGER generation is interested in peer-to-peer lending, which could be an untapped opportunity for the sector, claims a new report from data specialists CACI.
Using Fresco Segments, which parses population data by age, wealth, income, behaviour and attitudes, CACI found there were 16,000 web searches for the term “P2P lending” in the first three months of 2019.
36 per cent of these searches came from the four youngest Fresco segments, the report said.
This demographic typically has less money in savings, the report added, suggesting that they are less risk averse and tempted by the higher returns offered by the P2P sector.
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“This as yet untapped age group could be a ripe opportunity for P2P players to make their mark,” CACI said.
Meanwhile, individuals in the wealthiest Fresco segment – high income professionals – were two-and-a-half times more likely than the average consumer to search for the term. However they are also 15 per cent less likely to visit a P2P platform compared to the average user.
CACI suggested that this is likely to be down to high income professionals being less prone to converting. Having researched and reviewed P2P lending, they may decide to chase better returns and higher risks in more traditional investments, CACI said, or to opt for Financial Services Compensation Scheme-guaranteed savings products.
Other categories including working singles and couples, home-owning families and asset-rich greys are reasonably well-represented among visitors to P2P websites, in line with the general online audience, the report found.
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Caci suggested there may be an opportunity for lending platforms to target these demographics,  adding that many of these groups are forecast to drive growth in digital banking.
“The ‘low hanging fruit’ of younger, digitally engaged savers may be easier to convert, but they aren’t typically able to invest large amounts and generate high lifetime value,” CACI’s report said.
“Secondly, the highest value individuals are much more difficult to convert. They are aware of and searching for P2P lending, but need careful messaging to convince them to make that final step of opening an account.”
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CACI’s report also looked into digital banking trends. It found that 56 per cent of new savings accounts are opened via websites and apps, up from 39 per cent in 2014.
By 2021, mobile is expected to become the biggest channel in terms of users, overtaking branches and desktop banking. A large proportion of digital growth will come from so-called second-wave adopters – including those aged over 50 who are switching to digital channels. It is also expected that by 2024 some 75 per cent of new savings accounts will come via digital channels.

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