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Although U.K.-based peer-to-peer lending sites have attracted millions in venture capital funding, consumers have been slower to adopt the technologies these FinTech platforms offer.
Among 1,100 British consumers polled by consultancy firm EY, only 7 percent indicated they had used such a service to borrow money this year. A separate poll of 1,050 Brits by Blumberg Capital revealed just 4 percent of them had utilized alternative lending platforms over the previous year, according to the Financial Times.