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This IMF paper focuses on marketplace lending using data for 109 countries from 2015 to 2017 to study the relationship between fintech credit to businesses and consumers and various aspects of financial development. Marketplace lending to consumers grows in countries where financial depth declines highlighting the role of fintech credit in filling the credit gap by traditional lenders. This result is particularly strong in low-income countries. In the business segment, marketplace lending expands where financial efficiency declines. The paper's findings show that low-income countries take advantage of the fintech credit opportunity in the consumer segment but face important challenges in the business segment.

The US Office of the Comptroller of the Currency (OCC) issued a final rule that creates a bright-line test to determine when a bank makes a loan and is the "true lender," including in the context of bank-fintech partnerships. The "true lender" question arose in the context of certain lending arrangements between banks and nonbank entities, in which the nonbank entity typically markets the loan, makes the credit decision and directs its bank partner to originate and temporarily hold the loan before purchasing it from the bank. https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-139.html