Press release
Rising Demand for Convenient, Online Financing Propels Growth in Alternative Lending Platform Market 2022 - 2030
Alternative lending platform refers to digital financial institutions that use technology to provide unsecured loans, without going through traditional banks. The loans are provided through P2P (Peer-to-Peer) lending, marketplaces, and balance sheet lending. In recent years, the alternative lending platform market has seen substantial growth due to increased demand for more convenient and accessible financial services. The growth of digital technologies has enabled the development of these platforms, and the rise of online marketplaces and fintech startups has made it easier for consumers and businesses to access loan services from their computer or mobile device.Global alternative lending platform market was valued at US$ 2.3 Bn in 2021, growing at a CAGR of 26% over the forecast period (2022 - 2030).
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Industry Trends:
Growing demand for unsecured loans: Consumers and small businesses are seeking out alternative lending platforms as a source of financing, as they can often get quick and easy loans without the need for collateral or extensive credit checks.
Emergence of new technologies: The rise of big data and artificial intelligence (AI) technologies has allowed alternative lending platforms to streamline their processes, reduce their costs, and offer more customized loan products to their customers.
Increasing competition: The number of alternative lending platforms has grown rapidly, leading to increased competition in the market. This has driven down interest rates and allowed for more flexible loan terms and conditions.
Regulation and security concerns: The alternative lending platform market is still relatively new, and regulations have not yet caught up with the pace of growth. This has led to security and data protection concerns for both borrowers and lenders, which must be addressed for the market to continue to grow.
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Major Market Players Profiled in the Alternative Lending Platform Market Report include:
American Express. ( Kabbage)
CommonBond, Inc.
Funding Circle
LendFoundry
LendingClub Bank.
Morgan Stanley
OnDeck
Portfolio+ Inc.
RNDPOINT LTD.
Upstart Network, Inc.
Zopa Bank Limited
Other Industry Participants
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Why the Alternative Lending Platform Market Report is Beneficial?
The report is compiled with a thorough and dynamic research methodology.
The report offers a complete picture of the competitive scenario of the Alternative Lending Platform market.
It comprises vast amount of information about the latest technology and product developments in the industry.
The extensive range of analysis associates with the impact of these improvements on the future of Alternative Lending Platform industry growth.
The report has combined the required essential historical data and analysis in the comprehensive research report.
The insights in the report can be easily understood and contains a graphical representation of the figures in the form of bar graphs, statistics and pie charts, etc.
This report can be customized to meet the client's requirements. Please connect with our sales team, who will ensure that you get a report that suits your needs.
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Global Alternative Lending Platform Market:
By Offering
Solutions
Services
By Alternative Lending Types
Short-term loans
Lines of credit
Invoice financing
Others
By Deployment
Cloud based
On premise
By End Users
Crowdfunding
Peer to peer lending
Credit Unions
Community Development Financial Institutions (CDFI)
Microlenders
Others
By Geography
North America [U.S., Canada, Mexico]
Europe [Germany, UK, France, Italy, Rest of Europe]
Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
South America [Brazil, Argentina, Rest of Latin America]
Middle East & Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]
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