Possibilities and constrains of crowdlending platform development

Abstract

Subject. The article addresses crowdlending platforms as an alternative way to invest resources. Objectives. We focus on identifying opportunities and limitations for the development of crowdlending platforms. Methods. The paper draws on the systems analysis tools. It also applies a structure-behavior-result (SBR) model, which enables to characterize the external environment of crowdlending platforms to identify their opportunities and constrains. Results. We identify opportunities and limitations of stakeholders involved in the development of crowdlending, including investors, borrowers, operators of digital platforms, the State and banks. The paper shows that both the demand and supply for the development of crowdlending are created. However, the main limitations in the development of this type of activity are associated mainly with institutional factors. Transparency in the activity of crowdlending platforms will mitigate risks, increase the level of trust of owners and users of resources. The improvement of legislation in this field will help preclude misconduct of economic agents in using this tool. Conclusions. The findings can be used by federal and regional authorities in strategy implementation for the development of small and medium-sized businesses in the Russian Federation, as well as by bodies of legislative power in the development of regulatory framework for collective investment tools dissemination in Russia.