In a financial landscape long dominated by banks, North Macedonia’s fintech company P2P.mk is positioning itself as an alternative built on trust, transparency and responsible use of technology, aiming to reshape how individuals invest and borrow in the Balkan country.

“Our core product is a peer-to-peer lending platform that connects individual investors with vetted consumer borrowers in a fully digital, transparent environment,” Teodor Todorovski, CEO of P2P.mk, said in a written interview with bne IntelliNews.

“At its core, P2P.mk is about trust, transparency, and fair access — building a financial ecosystem that works for both sides.”

The platform allows individuals to invest directly in consumer loans, a segment of the financial market that has traditionally been accessible almost exclusively to banks and large financial institutions.

According to Todorovski, this model gives private investors greater control over their money while offering borrowers an alternative to conventional credit channels.

“For investors, the main benefit is access to an alternative investment class that was traditionally reserved for banks,” he said.

“They can diversify their portfolios, choose investment amounts that suit their risk appetite, and track performance in real time. The process is simple, transparent, and designed to give users full visibility into where their money goes.”

On the borrowing side, P2P.mk aims to simplify and humanise access to consumer finance. “For borrowers, the platform offers faster access to financing, clearer terms, and a more human approach compared to traditional credit institutions,” Todorovski said.

“We focus on responsible lending, clear communication, and predictable repayment structures.”

The idea for the platform emerged from what Todorovski describes as a structural mismatch in the financial system.

“The idea came from a very practical observation: there was a clear gap between people who wanted better returns on their savings and individuals who needed access to fair, transparent consumer financing,” he said.

He argued that traditional banking models have struggled to adapt to changing expectations. “Traditional banking models are often rigid and slow to adapt, while people’s financial needs and expectations are changing rapidly,” Todorovski said. “We saw an opportunity to use technology not just to digitise finance, but to rethink relationships within it.”

According to him, the ambition behind P2P.mk went beyond launching another digital product. “P2P.mk was created as a response to that gap — combining financial discipline, modern technology, and a strong ethical framework,” he said. “The goal was never just to build a platform, but to build confidence in a new way of handling money.”

The company is operating in a fintech environment that Todorovski describes as young but increasingly dynamic. “The fintech industry in North Macedonia and the wider Western Balkans is still in an early but very promising phase,” he said.

Over the next three to five years, he expects the sector to mature through closer regional links and more targeted solutions. “We expect stronger regional integration, more specialised fintech solutions, and increased collaboration between traditional financial institutions and fintech companies,” Todorovski said.

He added that consumer attitudes are also shifting. “Consumer trust in digital financial services is growing, and regulatory frameworks are gradually adapting to innovation.”

However, he stressed that the next stage of development will be defined by quality rather than sheer growth.

“What will be crucial is not just growth in numbers, but growth in quality, platforms that are compliant, transparent, and focused on long-term sustainability rather than short-term disruption,” he said.

Regulation remains one of the most complex issues for fintech companies in the region. “Regulation is both the biggest challenge and the biggest opportunity,” Todorovski said.

“While frameworks exist, they are often designed for traditional financial institutions and can be slow to adapt to new models such as P2P lending.”

Access to funding is another hurdle, particularly for companies that prioritise stability over speed. “Access to growth capital is another challenge, especially for fintech companies that prioritise compliance and long-term stability over rapid scaling,” he said.

Beyond regulation and financing, Todorovski highlighted the importance of education and communication. “Education and trust remain key issues,” he said. “Fintech companies must invest significant effort into explaining their models, risks, and benefits clearly to users. Transparency is not optional, it is fundamental.”

User behaviour has also evolved noticeably in recent years. “The most significant change is a shift from curiosity to expectation,” Todorovski said. “A few years ago, digital finance was seen as innovative; today, it is expected to be intuitive, fast, and reliable.”

He noted that users are becoming more demanding and more values-driven. “Users are more informed, more selective, and more interested in understanding how their money works,” he said. “There is growing demand for transparency, ethical practices, and control, not just convenience.”

This trend is particularly visible among younger users, he added. “We also see increasing interest in alternative investment models and financial literacy, particularly among younger users who want their financial decisions to align with their values.”

Looking further ahead, Todorovski believes fintech’s future will belong to companies that prioritise responsibility over hype. “The long-term prospects are strong, but they favor companies that take a responsible approach,” he said.

In his view, the era of disruption for its own sake is coming to an end. “Fintech is no longer about disruption for its own sake,” Todorovski said. “It is about building systems that are fair, resilient, and trustworthy.”

He concluded that the next phase of growth in the industry will be shaped as much by governance and principles as by technology itself.

“Platforms that combine technology with strong governance, regulatory compliance, and user education will define the next phase of growth,” he said.

“In that sense, fintech is becoming less about technology and more about principles, and that is where we see the future of P2P.mk and the industry as a whole.”