Truth | Page 15

#3 PEER-TO-PEER NETWORKS ARE CHALLENGING ESTABLISHED PLAYERS The explosion of peer-to-peer (P2P) networks is beginning to disrupt the old banking order. Compelling new ways to borrow, invest and transfer money are bypassing traditional channels and established brands. A new model is emerging, driven by advances in technology that allow people to connect and exchange assets in a secure but unmoderated digital space. 15 PR ES E N T A N D P O T E NTIA L F UTURE S IN F IN A N CIA L SE RVICES