‘Disruption is capitalism’s great party trick’

Great article from Stian Westlake from NESTA this morning in City AM looking at the need to foster disruption in UK finance models via crowdfunding and peer-to-peer lending:

This is radical stuff. It replaces the complex and costly processes of a bank’s business lending operation with a website and a swarm of small lenders. Borrowers like the speed and the simplicity. Lenders enjoy the convenience too, and the feeling that their money is helping real businesses.

It’s a long-term game, but competition and diversity are the only ways to get more, better and cheaper finance to growing UK businesses.