With open access to borrower information, held centrally and virtually, there is no reason why end-savers and end-investors cannot connect directly.

BBC: What threat to banks from internet lenders?

Person-to-person financing is provided remotely using borrower information stored on Kiva's website.

BBC: What threat to banks from internet lenders?

The investors are likely to pull the raw information about a borrower, roll up their sleeves, and analyze the credit quality themselves, either as a primary decision-making tool, or as a double-check on the rating.

FORBES: Credit Ratings and the Fiscal Cliff

As the post above indicates, Lending Club posts loans before they verify the information provided by the borrower.

FORBES: Is Lending Club Going Through Growing Pains?