Global Fintech Lending Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fintech Lending Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Fintech Lending market finds that the global Fintech Lending market reached a value of USD 46448.28 million in 2022. It’s expected that the market will achieve USD 109441.23 million by 2028, exhibiting a CAGR of 15.35% during the forecast period.

Influence of COVID-19 Outbreak on Fintech Lending Industry Development

Fintechs have faced their own challenges in dealing with the COVID-19 pandemic. In a recent study conducted by the World Bank, The Global Covid-19 FinTech Market Rapid Assessment Study, FinTechs reported a 5% average increase in agent or partner downtime and a 7% increase in the number of unsuccessful transactions, queries or access requests compared to the same period in 2019. These operational difficulties in addition to increased expenses have hindered FinTechs growth. Additionally as much of daily life has moved online FinTechs have seen increased fraud and cybersecurity risk. FinTech firms have also been under greater amounts of financial stress as there has been a modest fall in financing deals and valuations. In the World Bank survey about half of FinTech firms identified COVID-19 having a negative impact on their balance sheets. Despite these difficulties many different types of FinTech firms experienced significant growth in 2020.

A sustained economic slowdown would reduce consumer and business spending more than what has already occurred. In turn, this would result in lower transaction-based revenues for many fintech companies.

Ultimately, in a frozen economy, fintech companies will have serious financial challenges ahead if they are unable to reduce costs or rely on their balance sheets to get them through this difficult period.

Strength

Proliferation of smartphones and growth in digitalization
With the continuous development of the Internet, smart phones have penetrated into every aspect of people's lives. Increased number of smartphones around the world has led to greater demand for Fintech lending solutions for faster and hassle-free processing of loans from anywhere. To meet customer expectations, Fintech lending platform providers are forced to enhance their offerings to provide a better customer experience. Digitalization helps to automate processes, minimizes the lending process costs, and reduces the access time for customers. The Fintech lending business is mainly processed by computers, and the operation process is completely standardized, so that customers do not need to wait in line, the business processing speed is faster, and the user experience is better.

Weakness

Higher dependency on traditional lending methods
Many organizations prefer traditional lending methodologies that are often time-consuming and tedious. Due to their set customer base and standard ways of credit underwriting, they cannot embrace innovations. Furthermore, the lack of awareness of digital lending and training and skillsets to manage advanced solutions are the major factors responsible for the less adoption of automated and advanced digital lending processes.

Opportunities

Changes in payment methods.
With a large number of mobile users who have a penchant for online transactions, coupled with the fact that the implementation of FinTech significantly improves the customer experience by providing convenience in payments and delivery in the e-commerce, the global Fintech Lending market demand will experience incredible growth in the future.

Region Overview:

From 2022-2027, Asia-Pacific is estimated to witness robust growth prospects.

Company Overview

Ant Group，JD Digits，Better，SoFi and OnDeck are the five key players in the global Fintech Lending market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Fintech Lending market in the past 5 years.

Ant Group is the parent company of Alipay, a mobile payment platform, and the world's leading open platform for financial technology. It is committed to promoting the digital upgrade of the global modern service industry including financial service industry through technology, and providing inclusive, green and sustainable services to consumers and small and micro enterprises together with partners, bringing small and beautiful changes to the world.

Developer of a cloud computing platform designed to provide customized financial services and digitized solutions for industrial upgrade. The company's platform offers data technology, AI, IoT and blockchain which produces internet financial development models, enabling individual and business users to get safe, high-yield, customized financial services, investment and financial management.

JD Digits is a developer of systems to connect financial and physical industries with digital technology, help the industries to improve the level of internet, digitization, and intelligence, and promote the development of the economy and the creation of social value.

Segmentation Overview:

Among different product types, Cash Loans segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Business Loans segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Fintech Lending market covered in Chapter 3:

Blend
AVANT
GrabFinance
SoFi
C2FO
Better
Ant Group
PROSPER
LendingHome
Lending Club
Open Lending
NAV
Tala
Braviant Holdings
OnDeck
JD Digits

In Chapter 4 and Chapter 14.2, on the basis of types, the Fintech Lending market from 2018 to 2029 is primarily split into:

Cash Loans
Instalments
Non-cash Disbursement

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fintech Lending market from 2018 to 2029 covers:

Business Loans
Personal Loans

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)