The boom in internet lending is taking a toll on traditional commercial banks, especially smaller ones, suggesting that they’re going to have to have to find ways to adjust to the changes wrought by financial technology.

New academic research says more than a quarter of the “peer-to-peer” dollars loaned over the internet today would’ve traditionally been handled by small commercial banks before the advent of online lenders.

The figures come from a paper presented at Federal Reserve Bank of …
Banking Industry News

Tagged: