Designing a mechanism for generating confidence in crowdlending platforms

¹ Ural Institute of Management of the Russian Presidential Academy of National Economy and Public Administration, 620144, ul. 8 Marta, 66, Ekaterinburg, Russia
² Institute of Economics of the Urals Branch of the Russian Academy of Sciences, 620014, ul. Moskowskaya, 29, Ekaterinburg, Russia
³ The Representative Office of the Sverdlovsk Regional Fund for Entrepreneurship Support in the Gornozavodsky Administrative District, Nizhny Tagil, Russia
⁴ The Ural Federal University the Ural Federal University named after the first President of Russia B. N. Yeltsin, Ekaterinburg, Russia

^* Corresponding author: vay_uiec@mail.ru

Abstract

The development of the equity economy as a new business model, the spread of digital platforms, as well as the task of increasing the efficiency of resources, stimulated the development of new financial instruments, including crowdlending. At the same time, lack of sufficient accumulated experience, both in the functioning and regulation of crowdlending platforms, significantly limit their activities. The purpose of this study is to design and substantiate the mechanism of confidence generation in crowdlending platforms. In the course of the study, the peculiarities of the equity economy functioning, which are characteristic, among other things, for crowdlending platforms, were described, regulatory, technical and reputational risks of confidence loss in the subsystems of the “platform-borrower”, “platform-investor” and “loan-investor” relationships were identified, and tools for their reduction in these subsystems were proposed. In addition, an author’s model of interaction between actors of the pooled investment market when investing by a loan provision has been developed, which includes the function of a collateral operator to represent the interests of investors in a one-to-many relationship. The theoretical significance of the results obtained consists in the expansion of scientific research in the field of the sharing economy to the financial resources market. The practical significance of the indicated results consists in the possibility of implementing these proposals to increase the level of confidence in crowdlending platforms.