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FinTechs belonging to this category act as a loan creditor (even short and very short-term loans), are broking loans or receivables or conduct factoring of loans, which were given to private or business customers. In this business area you also find “peer-to-peer” (P2P) services, in which FinTechs enable a multitude of users to give loans (and brokered by the FinTech-platform) to other users or companies.
Finetrading is hereby a financial service of FinTechs, where they buy due receivables and grant the debtor an extension of payment time.
As an ancillary service some FinTechs offer alternative credit assessment services to check the solvency of a borrower.
Introduction
Attitude of the country towards loan-giving-, factoring-, brokerage-, finetrading- and ancillary services
Credits are mostly provided to businesses and consumers by banks in Slovenia. Businesses and consumers have some reservations about taking loans from entities that are not banks. However, we see potential in this form of lending if the platform were to position itself as trustworthy.
Legal affairs
Obligations and requirements to provide loan-giving-, factoring-, brokerage-, finetrading, and ancillary services described above
In the case of consumer credit, the creditor must obtain a licence from the Ministry of Economic Development and Technology before starting to provide consumer credit services. A licence is required for each establishment where the activity is carried out. The licence is granted for a period of three years with the possibility of renewal after the expiry. To obtain a licence, certain conditions under the Consumer Credit Act must be met, including but not limited to organisational and staffing requirements. There are also a number of restrictions on the content of consumer credit agreements.
Additional comments regarding the legal situation for loan-giving-, factoring-, brokerage, finetrading-, and ancillary services or what FinTech’s must be aware of in this business area
N/A.
Economic conditions
Market size for loan-giving-, factoring-, brokerage-, finetrading- and ancillary services and biggest companies in this business area
No official data available.
Additional comments regarding the economic situation for loan-giving-, factoring-, brokerage-, finetrading- and ancillary services or what FinTech’s must be aware of in this business area
N/A.