So far there are no p2p lending services active in Spain. Manuel Ángel-Méndezwrote a comprehensive article on the situation in Spain for El País. Some of the key facts from this article:
- Giles Andrews, of Zopa, confirms: "We have had conversation with several companies in Spain"
- Pol Navarro, director of innovation at Banc Sabadell,thinks that p2p lending will not be a short term threat to banks. "it is to early to tell if p2p lending will be a successul business model in Spain"
- Banking organisations expect, that p2p lending will profit from the introduction of a personal identification number (digital DNI) which will be introduced within the next 18 months. Fernando Alfaro of Bankinter sees to chances for p2p lending services: low costs of entrance (IT costs) and millions of immigants in need of loans, that do not have a credit history