The History of Lending: Innovation throughout the Centuries
When thinking about lending, many are unaware of how long the tradition dates back to. Following history, we can trace money lending all the way back to 3000 BCE in ancient Mesopotamia. This is where we see the Code of Hammurabi is used for scaling the price of silver. We’re introduced to the idea of collateral in 400 BCE, a method that we still use today. Collateral as we know it is something pledged as a security for the repayment of a loan.
Although many of the practices put in place are still being used to this day, the advancement of Technology has helped lenders throughout centuries to expedite the process. Today, we see many companies and consumers resort to online lending – astronomically minimizing slow lending processes.
See our infographic on the History of LendTech!
At Storm2, we know how important the right hire is, and we know Lending. We work with some of the most innovative companies worldwide. If you’re within the digital space and are looking to hire specialists to grow your team, we have specialized candidates ready for you to connect with. Get in touch with us!