What is Online Loan Aggregator Market?
Loan aggregator is a middleman company that collects an individual personal and financial information on a loan application and shops it around to lenders who might offer an individual a loan. These aggregators charge some amount of cost to provide individual end-to-end service in their overall loan application process. The online loan aggregator is rapidly being adopted in developing countries, for instance, in India, the online loan aggregator has emerged as one of the fastest-growing industry. The increasing tie-ups with multiple banks helping purchasers in loan pre-application and the post-application process has increased demand for online loan aggregators.
Highlights from Online Loan Aggregator Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Credit Sesame (United States), Credible Operations, Inc (United States), Fundera (United States), LoanAdda (India), BankBazaar.com (India), iMoney (Malaysia), Square Capital (India), CreditEase (China), Dianrong (China), Lufax (China), RateSetter (United Kingdom), OneMain Financial (United States), Dot Zinc Limited (England), YallaCompare (UAE), Souqalmal (UAE), Paisa Bazaar (India) and Money Super Market (United Kingdom) |
Credit Sesame (United States), Credible Operations, Inc (United States), Fundera (United States), LoanAdda (India), BankBazaar.com (India), iMoney (Malaysia), Square Capital (India), CreditEase (China), Dianrong (China), Lufax (China), RateSetter (United Kingdom), OneMain Financial (United States), Dot Zinc Limited (England), YallaCompare (UAE), Souqalmal (UAE), Paisa Bazaar (India) and Money Super Market (United Kingdom) are some of the key players profiled in the study. Online Loan Aggregator Market Segmentation:
Scope | Sub-Segments |
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Business Model | Lead Generation Model,End-to-End Customer Acquisition Process |
Loan Type | Auto Loan,Gold Loan,Personal Loan,Education Loan,Mortgage/Home Loans,Credit Card Loan |
Technology | Website Platform,CRM Platform |
End Use | Personal Use,Business Use |
On the basis of geography, the market of Online Loan Aggregator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Trend for Do It Yourself (DIY) Services
Market Growth Drivers:
Thriving Internet Penetration and Awareness, Social Banking Driving the Growth of E-Loans and Increasing Number of Banks Offering Online Services
Challenges:
Lack of Adoption in Rural Areas
Restraints:
Security and Privacy Concerns and Increasing Online Crime Rates
Opportunities:
Ease of Loans Comparison Provided By Different Banks Online, Increasing Number of Online Transactions and Immense Potential of Online Loan Aggregator in Developing Economies
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Online Loan Aggregator Providers, Private Equity Firms and Banks, Government Regulatory and Research Organizations and End Users
Analyst Comment
The United Kingdom and United States providers will contribute to the maximum growth of global online loan aggregator market throughout the predicted period.