Watch out pesky CSR (trans. Customer Sales Representatives or better known in Manila parlance as Telemarketeers), your days maybe numbered with the new web 2.0 phenomenon — social lending via the web.
From a post by Allen in CenterNetworks:
The basic idea with social lending is that when you need money, others will pool their funds together and lend them to you at x% interest rate. Prosper uses your credit score to determine your risk rate and then based on that risk rate you bid for the loan with your terms. What makes Prosper popular is the “social” aspect; that is you can post your story about why you need the money.Â Jane described a woman who wanted a boob job and posted her story and was able to receive the funding even when every bank she tried turned her down. Jane described Prosper as: eBay + PayPal + Match.com.
Neat? read more about Social lending the next web 2.0 phenomenon.
Seems feasible in the Philippine setting. This could be a big web-commerce prospect. Maybe, the top banking institutions should start establishing a lending portal in their business sites instead of employing CSRs who sound like you can’t even trust them to handle your personal loans transactions.