TSB lends through Harmoney

TSB Bank has revealed it has lent $50 million in peer-to-peer loans via Harmoney.

It operates as an institutional investor on the platform, which matches lenders with borrowers.

In its annual report, TSB said the relationship aligned with its diversification strategy and was a way of supporting customers indirectly.

It said the lending facility was “relatively new”.

The Harmoney loans are unsecured.

Heartland Bank, which has a 12.6% shareholding in Harmoney, also offers money to peer-to-peer borrowers. It had lent $62m by the end of last year.


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