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Peer-to-peer better on customer satisfaction
Peer-to-peer lending platforms such as RateSetter score more highly than the top-rated savings account providers for customer satisfaction, according to a Which? survey of 5,000 members.
RateSetter is the highest-rated peer-to-peer lender, with a total customer satisfaction rating of 80%, scoring the maximum 5 stars for rates offered and four star ratings for explanation of risks to investors, customer service, default rates and ease of use.
91% of Which? members who invested more than two years ago still have investments with peer-to-peer platforms, demonstrating that the vast majority recognise the benefits of including peer-to-peer within their portfolios.
Which? members with a RateSetter account have invested an average of £15,134, with one member commenting: “I am getting good returns on my investments and am able to control that level of return”.
Rhydian Lewis, CEO at RateSetter, commented: “For the members of Which? to have given their vote of approval to peer to peer lending is a significant moment for our industry. I am thrilled that Which? members are so positive about RateSetter in particular, with a customer satisfaction score that exceeds their rating for any savings account provider.”