Unscrupulous lending practices by local fintechs must be weeded out and the industry more closely scrutinised by regulators, according to Leo Tyndall, the founder of peer-to-peer lender Marketlend.
He is concerned the fintech industry is fraught with lending practices that take advantage of small and medium-sized businesses, adding to the difficulties they often face in getting credit.
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Joyce Moullakis writes on banking and finance, specialising in investment banking, private equity, and financial services. Connect with Joyce on Twitter. Email Joyce at joyce.moullakis@nine.com.au
