al services Banking and financi ae Zopa and the banks brewing infinancial — Win panks seting strict lending eriteria, many f gerices such 2s Zop, . Consumer have been ena 2p 8 8209 the online lending exchange where depositors Rene aoa ’ data Sst voney directly to borrowers at & isk . ng ma agoed wt rate. Dubbed the eBay agencies such as Semen known as creit St panking: the ide behind Zopa is that, by outing bureaux. These camy out oredit searches, anaing ‘ut the big banks, borrowers should get cheaper data about individuals or companies 0 assign egy rates, and lenders get higher returns. The APR ‘score based on the applicant's credit history. Som reentage Rate) paid by the borrower ‘commentators also believe thatthe direct relationship rior plus Zopets between borowers rtd fenders In this online sg marketplace creates an atmosphere of mutual tus, | nem sons bn 50 (Annual Pet consists of the rate set by the le Initial tos. HEED pplying for a bank loan a management services and payment products am Sebr, head of global transaction banking, Deutsche Bank, writes about current trends: fo. : De a5 mot Peyments are excated via electronic transfers. This trend affects every walk of saaey wi a apart Ges ers paying at a shop via direct debit to an importer transferring money ro an exporter sscount via a srosborder credit transfer, "Today's payment produc inalred : lesigned to help control the timing 2 iti Te speed up international payments, the new eating ou aad unas aime ross-border transactions to be processed in re te see real time. Scanned with CamScannerze 1.1, Without looking back at the texts, brainstorm seven terms formed from the base word credit. gt Complete these FAQs from an online financial service provider aimed at young entrepreneurs, 314 ing four of the terms from 31.1 and other words from A, Band C. Finance Becoming an Alfa borrower 1 What kind of credits. --does Alfa Finance carry out? ‘When making a. pplication you will be giving permission for our credit b. ‘access your credit records to determine your c. 2. lthavea bad credit r. ‘9 €an | borrow from Alfa Finance? ‘We regret that those with a history of bad d. wll have thelr eplications turned down. 3. What does the APR cover? 1. the person ening money, 1 are set by our lenders. «marketplace the Interest 4 Init possible to settle my loan early? No problem. Alfa allows you to repay your loan before it reaches... transtor, oF rect. Just lek on ‘Sete In Ful, 5 What happens it dhsssnnnnne OR MY payments? We may reassess yours... create a more c.. personal needs. by using e. lution, suitable for your Becoming an Alfa Lender 6 If want to make my money available to others, what are the lending 2 ‘Simple, you must be 18 years old, an Australan resident, with an Australian bank account, 7 Does Alta Finance protect my money against f 2 Cartan, and against money b.wnonrnnn 0 Prevent erminals hiding thelr money through our accounts. Alla employs safety measures similar to those of banks 31.3 Match the term (1-5) to the correct definition (ae). 1 clearing system | @_ Restrictions placed on the borrower by the bank. 2 collateral/security | b Providers of banking, insurance and investment products, 3 covenant ‘¢ How authorized banks or other financial institutions settle payments at the end of each trading day, transferring money from the payers’ to the payees’ accounts. ing after al liabilities and taxes have been paid. 4 financial services _| d Money remé 5 surplus funds Properties or assets providing security to the lender in case the borrower fails to pay back the loan, Te eon ol eee eon @ company you know in doing cr Professor English in Use Management 69 Scanned with CamScanner Ree aaa eae eS a ee Sea ees