PALO ALTO, Calif., Feb. 12, 2013 /PRNewswire/ -- In response to the exponential growth of crowdfunding and peer-to-peer financing in 2012, BanklessTimes is launching a new web portal today to educate, entertain and protect consumers wary of misinformation and fraud.
As personal and business credit options continue to recede, and too-big-to-fail banks continue to rake in profits, consumers and entrepreneurs are seeking new ways to get the money they need to finance real estate investments, medical care and small business loans and improvements.
This emerging bankless finance industry is expected to see $6 billion invested globally in 2013.
"Sites like Kickstarter, Indiegogo, Lending Club and Prosper are producing millions of dollars in legitimate transactions each week. Consumers are likely familiar with them. But there are thousands of sites out there – and dozens more coming on stream every day – that need to be reviewed and held to account," says editor-in-chief John White. "People also need a reputable news source to educate, to tell stories that provide meaningful information so they can make informed financial decisions."
The site features a mix of original reporting and curated stories from the top news services from around the world. There is also a robust business directory, which can be quickly searched by user rating or financial category.
White says the site will see more and more original reporting as the company ramps up content development.
BanklessTimes is dedicated to bringing transparency and accountability to business and consumer finance. They are focused on the burgeoning bankless finance market, including peer-to-peer lending, crowdfunding, private consumer credit, online banking and savings, investments and more. They give borrowers and private lenders the information they need to challenge the status quo of banking and finance, make informed lending and borrowing decisions and do better financially. They provide industry news, blogs, original reporting, how-tos, frequently asked questions, a glossary of terms and archives. BanklessTimes is a meta-site publishing model. They publish a combination of aggregated and original content supported by a business directory section that aggregates listings from multiple providers. They intend to become the top site devoted to bankless finance news and information.