Peer-to-peer banking

Peer-to-peer (P2P) banking is a way for people to loan and borrow money without using a bank or other financial institution. It is like going to a bank, but with your friends. P2P banking allows people to lend money to each other, instead of going to a bank, which can sometimes be expensive. For example, imagine you need $100 to buy something. Instead of going to the bank and taking out a loan with interest, you can ask a friend to lend you the money, and you will pay them back later. P2P banking makes it easier and less expensive than traditional banks.