UNRAVELLING P2P PLATFORM FAILURES: A SYSTEMATIC LITERATURE REVIEW OF KEY DETERMINANTS

Authors

Lucan Feliciano D'Surya University of Surabaya (UBAYA)
Henrycus Winarto Santoso University of Surabaya (UBAYA)
Sugeng Hariadi University of Surabaya (UBAYA)

Abstract

The rapid rise of Peer-to-Peer (P2P) lending platforms has redefined access to credit, connecting borrowers and lenders through innovative digital solutions. Yet, despite their global expansion, these platforms face mounting challenges, with failures becoming increasingly prevalent. This study delves into the critical factors driving P2P platform failures through a systematic literature review of 23 studies published in Scopus between 2014 and 2024. The research identifies financial, operational, and environmental determinants, further categorized into internal and external factors, using a structured review protocol. The study concludes that platform failures arise from a complex interplay of factors, necessitating holistic strategies to enhance resilience, improve transparency, and align operational practices with evolving regulatory frameworks. By offering actionable insights, this review aims to guide policymakers, platform operators, and researchers in addressing vulnerabilities and ensuring the sustainable growth of P2P lending ecosystems.

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