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"BII\n  \n  \n      \n  \nThis story was delivered to BI Intelligence \"Fintech Briefing\" subscribers. To learn more and subscribe, please click here.The UK government launched the Innovative Finance Savings Account (IFISA) in April. It allows UK consumers to invest up to £15,000 ($20,000) in alternative finance platforms and get tax free returns.So far, only a handful of platforms have received authorization from the Financial Conduct Authority (FCA) to offer the product, due to regulatory holdups. But for those that have a live product, it has resulted in a significant uptick in business. We spoke to two P2P lenders that offer IFISAs about the impact it's had on their businesses: This suggests that IFISAs are succeeding in driving new capital to P2P lenders, and we believe that the IFISA will be vital to the growth of the UK P2P lending industry over the next couple of years. BI Intelligence, Business Insider's premium research service, forecasts that UK P2P lenders will lend £16 billion ($21 billion) in 2020.P2P lending has seen a rash of negative press following the high-profile resignation of Lending Club's CEO Renaud Laplanche, but that's just a minor hurdle for this exciting new industry. Peer-to-peer lenders use digital platforms to connect borrowers and investors — that's in contrast to banks which lend out customers' deposits. BI Intelligence forecasts that UK P2P lending will grow at a 45% five-year compound annual growth rate.Sarah Kocianski, senior research analyst for BI Intelligence, has compiled a detailed report on the U.K. P2P market that forecasts consumer, business, and property P2P lending volume in the U.K., what's driving the growth, and how unique features of the market will insulate it from the problems seen in the U.S. market. Here are some of the key takeaways: In full, the report: Interested in getting the full report? Here are two ways to access it:"
<https://www.businessinsider.com/uk-peer-to-peer-platforms-are-benefitting-from-government-policies-2016-8?r=UK&IR=T>