Microlending Global Market Report 2023 – By Provider (Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), Other Provider), By End-User (Small Enterprises, Micro Enterprises, Solo entrepreneurs And self-employed) – Market Size, Trends, And Global Forecast 2023-2032

Financial services are products and services provided by financial institutions that facilitate various financial transactions and other financial activities like loans, insurance, credit cards, investment opportunities, and money management. The main types of financial services are lending and payments; insurance; reinsurance; insurance brokerage; investments; and foreign exchange services. The lending and payments market refers to the lender's making funds and making them available to a person. The services are offered to small- and medium-sized businesses as well as large businesses. The services are used by individuals, corporations, governments, and investment institutions. The global financial services market is segmented - 1) By Type: Lending And Payments, Insurance, Reinsurance And Insurance Brokerage, Investments, Foreign Exchange Services 2) By Size Of Business: Small And Medium Business, Large Business 3) By End User: Individuals, Corporates, Government, Investment Institution Subsegments Covered: Lending, Cards & Payments, Insurance, Insurance Brokers & Agents, Reinsurance, Wealth Management, Securities Brokerage And Stock Exchange Services, Investment Banking The global financial services market size grew from $25848.74 billion in 2022 to $28115.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global financial services market is expected to grow to $37484.37 billion in 2027 at a CAGR of 7.5%. The global payments industry has witnessed a rapid increase in the adoption of EMV technology. This growth is driven by the higher level of data security offered by EMV chips and PIN cards as compared to traditional magnetic stripe cards. EMV is a security standard for various payment cards, including debit, credit, charge, and prepaid cards. Major companies in the financial services market include Allianz Group, Industrial and Commercial Bank of China, JPMorgan Chase & Co., Ping An Insurance, Axa Group, Anthem, Inc., Agricultural Bank Of China, China Life Insurance, China Construction Bank, and Centene. The chip carries data for the cardholder and the account, which is protected using both hardware and software security measures. According to the global technical body EMVCo, the number of EMV chip payment cards across the world reached 10.8 billion in 2020. In line with the rest of the world, the adoption rate of EMV chip payment cards has steadily grown across various regions in the world, reaching 71.7% in Canada, Latin America, and the Caribbean region, 61.2% in Africa and the Middle East region, and 32.7% in the Asia-Pacific region. Banks and financial institutions are adopting digitization to modernise their commercial lending business. This move is mainly a result of increased competition among banks and growing demand for a simplified and quick commercial lending process. Digitization leads to improved customer satisfaction in obtaining a commercial loan, which can otherwise be a complex and slow process. It also enables banks to target new customer categories and offer customer-centric solutions, which leads to improved efficiencies in the commercial lending business. Some of the banks that have incorporated digitization into lending are Commonwealth Bank of Australia, Hana Bank, and Fidor Bank. Many wealth management companies are investing in big data analytics capabilities to generate insights about clients. Big data solutions are being implemented to deliver insights around client segments, product penetration, and training programme effectiveness. These technologies are being implemented to assess existing and prospective clients’ inclination to purchase various products and services being offered by a wealth management company, their lifetime value, investment pattern, and the ability of the client to take risks. They are also helping wealth management companies to track business performance, increase client acquisition and retention rates, increase sales, and offer real-time investment advice. For instance, CargoMetrics, an investment firm based in Boston, used the Automatic Identification System (AIS) to collect data on commodity movement such as cargo location and cargo size to develop an analytics platform for trading commodities, currencies, and equity index funds. This tool was also sold to other hedge funds and wealth managers. Western Europe was the largest region in the financial services market share in 2022. North America was the second-largest region in the financial services market. The regions covered in the global financial services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa The countries covered in the financial services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The financial services market includes revenues earned by entities by providing financial or money related services such as lending, investment management, insurance, brokerages, payments, and fund transfer services. The financial services industry is categorized on the basis of the business model of the firms present in the industry, and most firms offer multiple services. Revenues include fees, interest payments, commissions, or transaction charges. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The financial services research report is one of a series of new reports from The Business Research Company that provides financial services statistics, including financial services industry global market size, regional shares, competitors with financial services share, detailed financial services segments, market trends and opportunities, and any further data you may need to thrive in the financial services industry. This financial services research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Lending is the act of allowing a person or organisation to use a sum of money in exchange for an agreement to repay it later, typically with interest. Payment instruments are systems that enable funds held in accounts at credit, payment or similar institutions to be transferred to a payee on receipt of a payment order. The main types of lending and payments are lending, cards, and payments. Cards and payments refer to the payment process through different types of cards. The various lending channels are offline, online channels that are used by B2B and B2C end-users. The global lending and payments market is segmented - 1) By Type: Lending, Cards And Payments 2) By Lending Channel: Offline, Online 3) By End User: B2B, B2C Subsegments Covered: Corporate Lending, Household Lending, Government Lending, Cards, Payments The global lending and payments market size grew from $8721.16 billion in 2022 to $9585.48 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global lending and payments market is expected to grow to $13415.12 billion in 2027 at a CAGR of 8.8%. Artificial Intelligence is gaining prominence in the payments sector due to its various applications allowing businesses to synthesize data to improve customer experience. Artificial intelligence refers to the development of computer systems that can perform tasks using human intelligence. Payment companies can improve their operational efficiency through AI, such as reducing processing times, error-free insights, and increasing automation. Many banking and non-banking institutions are using AI applications to monitor payment transactions from the point of payment message to the payment gateway. For example, AI-enabled application chatbots are being adopted by payment firms as they can understand customer language and respond to customer queries on a real-time basis. AI machine learning is significantly used to improve fraud detection and reduce false transactions. For instance, according to the latest Economist Intelligence Unit adoption study, 54% of financial services organizations adopted AI for payments for strengthening customer relationships. Major companies in the lending and payments market include China Construction Bank, Agricultural Bank Of China, JPMorgan Chase & Co., Bank of China, Industrial and Commercial Bank of China, Bank of America Corporation, Banco Santander, Citi Group, Wells Fargo & Company, and State Bank of India. Alternative lending is gaining traction as it gives loans to individuals and businesses who cannot access loans through traditional banking platforms. Alternative lending is becoming popular mainly because offering commercial loans to small businesses is deemed unprofitable by traditional banks. Alternative lenders rely on advanced technologies such as big data to obtain data-driven insights, which can be used to quicken the overall lending process. This allows alternative lenders to earn profits on loans that are conventionally considered unprofitable by traditional lenders. Examples of alternative lenders include Lending Club and OnDeck. Western Europe was the largest region in the lending and payments market share in 2022. Asia-Pacific was the second largest region in the lending and payments market. The regions covered in the global lending and payments market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the lending and payments market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The lending and payments include revenue by entities by providing secured or unsecured loans to borrowing entities, payment and money transfer services. The lending and payments industry is categorized on the basis of the business model of the firms present in the industry. Some firms offering lending services may offer other services, financial or otherwise. Revenues from lending and payments services include interest on loans, margins or commissions charged on transactions, and not the loan or repayment values themselves. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The lending and payments research report is one of a series of new reports from The Business Research Company that provides lending and payments statistics, including lending and payments industry global market size, regional shares, competitors with lending and payments share, detailed lending and payments segments, market trends and opportunities, and any further data you may need to thrive in the lending and payments industry. This lending and payments research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Asset servicing refers to a set of tasks and activities performed by a custodian for his clients in relation to the assets in his custody. The main services offered in asset servicing are fund services, custody and accounting, outsourcing services, and securities lending. Securities lending is the process of lending shares of stock, commodities, derivative contracts, or other securities to other investors or firms. The borrower must put up collateral in the form of cash, other assets, or a letter of credit when applying for a security loan. The services are offered to large enterprises, medium-sized and small enterprises, capital markets, and wealth management firms. The global asset servicing market is segmented – 1) By Service: Fund Services, Custody and Accounting, Outsourcing Services, Securities Lending 2) By End User: Capital Markets, Wealth Management Firms 3) By Enterprise Size: Large Enterprises, Medium and Small Enterprises The global asset servicing market size will grow from $1159.45 billion in 2022 to $1277.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global asset servicing market size is expected to grow to $1830.69 billion in 2027 at a CAGR of 9.4%. Globalization acts as a major driver for the growth of the asset servicing industry. According to a study on global asset servicing, nearly 60% of asset services in Assets Under Administration (AUA) and Assets Under Contract (AUC) predict that globalization is likely to be a strong driver for the asset servicing market’s growth over the forecast period. The players dealing in the asset servicing industry are majorly focusing on the APAC markets and other growing economies. Moreover, according to the BNP Paribas Securities Services article published in January 2020, India was expected to experience impressive growth in the asset management and servicing industry owing to the increasing working population, the rising buying power of the populace, and expected growth in the GDP of the country. Thus, globalization creates a large avenue for the expansion and growth of the asset servicing market over the forecast period. Major players in the asset servicing market are National Australia Bank Limited, CACEIS, BNY Mellon, HSBC, JP Morgan, Citi, The Bank of New York Mellon Corporation (BNY Mellon), State Street Corporation, UBS, and Clearstream (Deutsche Börse Group). The stringent regulatory framework is predicted to limit the growth of the asset servicing industry over the forecast period. According to Funds Europe’s asset servicing roundtable, rising global regulation is adding cost and risk to asset servicing, creating a requirement for asset servicers to constantly engage with clients and regulators. In addition to this, according to EY’s new opportunities for asset servicing study, nearly 75% of the companies see the impact of regulations as the greater risk facing the asset servicing industry. Therefore, the increased scrutiny from regulatory agencies is anticipated to hinder the asset service market’s growth in the forecast period. Robotic process automation (RPA) or automation is a major trend shaping the growth of the asset servicing market. Robotic process automation alone could reduce the headcount by 60–70% in the asset servicing industry while also achieving cost savings of approximately 30–40%. Robotic process automation (RPA) refers to a set of software tools known as bots or robots that are used to perform a repetitive or routine business process that is currently used by transaction processing teams or service centers. RPA can replace manual tasks involved in asset servicing such as reconciliation, trade processing, and reporting for regulators and clients, reducing the time required with cost-efficiency. For instance, the ANZ Banking Group was one of the early ones to adopt RPA aggressively and automated its HR, finance, and technology processes in its Bengaluru hub, creating thousands of bots. In April 2020, JP Morgan sought to take whole ownership of China International Fund Management (CIFM), a local asset management firm, for an amount of $1 billion. This step was taken following China's reforms on the elimination of caps on foreign companies' taking full control of local asset management operations. This acquisition is expected to enable JP Morgan's long-term involvement with CIFM and strengthen the company’s position in the Chinese market. China International Fund Management (CIFM) was founded in 2004 and offers asset management and related services to China. North America was the largest region in the asset servicing market in 2022. Western Europe was the second largest region in the global asset management market share. The regions covered in the global asset servicing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the asset servicing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The asset servicing market consists of revenues earned by entities by providing administration services through a central securities depository (CSD) or custodian in connection with the custody and/or safekeeping of financial instruments (e.g., the processing of corporate events or the handling of taxes) on a fee or commission basis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The asset servicing research report is one of a series of new reports from The Business Research Company that provides asset servicing statistics, including asset servicing industry global market size, regional shares, competitors with asset servicing shares, detailed asset servicing segments, market trends and opportunities, and any further data you may need to thrive in the asset servicing industry. This asset servicing research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Lending is the act of allowing a person or organization to use a sum of money in exchange for an agreement to repay it later, typically with interest. The main types of lending are corporate lending, household lending, and government lending. Corporate lending refers to a loan that is a business loan intended for business purposes. The variable interest rates are fixed-rate and floating rates. The different lending channels include offline and online. The global lending market is segmented - 1) By Type: Corporate Lending, Household Lending, Government Lending 2) By Interest Rate: Fixed Rate, Floating Rate 3) By Lending Channel: Offline, Online Subsegments Covered: Working Capital, Short Term - Corporate Lending, Long Term - Corporate Lending, Home Loans, Personal Loans, Other Household Loans, Short Term - Government Lending, Long Term - Government Lending The global lending market size grew from $7887.89 billion in 2022 to $8682.26 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global lending market is expected to grow to $12176.98 billion in 2027 at a CAGR of 8.8%. Banks and financial institutions are adopting digitization solutions to modernise their commercial lending business. This move is mainly a result of increased competition among banks and growing demand for a simplified and quick commercial lending process. Digitization enables faster approval of commercial loans, which can otherwise be a complex and slow process. It also enables banks to target new customer categories and offer customer-centric solutions, which leads to improved efficiencies in the commercial lending business. Commonwealth Bank of Australia, Hana Bank, and Fidor Bank are three major companies that have incorporated digitization into lending. Major companies in the lending market include China Construction Bank, Agricultural Bank of China, JPMorgan Chase & Co., Bank of China, Industrial and Commercial Bank of China, Citigroup, Bank of America Corporation, State Bank of India, Mitsubishi UFJ Financial Group, and Legal & General Group plc. Participation lending, also known as syndicated lending, is gaining prominence as it reduces the risks associated with lending large amounts of capital. Participation lending is the process of providing a loan by multiple lenders to one borrower. Participation loans are usually provided by one financial institution and administered by another. The popularity of participation lending is increasing as it provides a channel to offer diversified loan products and improves the liquidity of the business. This partnership offers larger business lending opportunities to financial institutions by allowing them to share both funding and risk. It eliminates the need for manual tracking of information by optimising the entire lending process. Some of the companies involved in participation lending are Coastway Community Bank, Shamrock Financial Corp., and Homestar Mortgage. Western Europe was the largest region in the lending market share in 2022. Asia-Pacific was the second-largest region in the lending market. The regions covered in the global lending market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the lending market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The lending market includes revenues earned by entities by providing secured or unsecured loans to borrowing entities. Lending entities include establishments such as finance companies, personal credit institutions, loan companies and student loans companies. This market covers all types of loans including mortgage loans, personal loans, working capital loans, vehicle loans and industrial loans. Revenue generated from the lending market includes all the interest charges levied by the lending entities such as banks and financial institutions against the loans sanctioned, but not the value of the loans themselves. This market includes interest charged by the banks on credit card and other payment cards as well as mortgages and other loans. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The lending research report is one of a series of new reports from The Business Research Company that provides lending statistics, including lending industry global market size, regional shares, competitors with lending shares, detailed lending segments, market trends and opportunities, and any further data you may need to thrive in the lending industry. This lending research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Peer-to-peer lending (P2P) refers to a method of lending money directly to individuals or businesses without the use of an official financial institution as a middleman. P2P lending is typically done through internet platforms that connect potential borrowers with lenders. The peer-to-peer (P2P) lending is used to connect investors wanting higher returns on their investments with verified borrowers seeking unsecured personal loans. The main types of loans in peer-to-peer (P2P) lending are consumer credit loans, small business loans, student loans, and real estate loans. The traditional lending model refers to a traditional mode of transaction that is used for purchasing or selling goods or services from one person to another without using the internet. It refers to an older method of business style and comes under a traditional business that includes direct interaction between seller and buyer and is carried out by face-to-face, telephone lines, or mail systems. The two types of business models include traditional lending and alternate marketplace lending that are provided to end-users such as businesses and individuals. The global peer to peer (P2P) lending market is segmented - 1) By Loan Type: Consumer Credit Loans, Small Business Loans, Student Loans, Real Estate Loans 2) By Business Model: Traditional Lending, Alternate Marketplace Lending 3) By End User: Business, Personal The global peer to peer (P2P) lending market size will grow from $107.84 billion in 2022 to $143.64 billion in 2023 at a compound annual growth rate (CAGR) of 33.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global peer to peer (P2P) lending is expected to grow to $419.7 billion in 2027 at a CAGR of 30.7%. Increasing digitization in the banking industry is expected to propel the growth of the peer to peer (P2P) lending market going forward. Digital innovation in the banking industry is transforming financial services such as mobile money, peer-to-peer (P2P), or marketplace lending. For instance, in January 2022, according to a report shared by European Banking Supervision, a regulatory body established to maintain financial stability throughout the European Union's (EU) banking industry, the number of digital users has climbed by 23% since the beginning of the pandemic. Therefore, the increasing digitization in the banking industry is driving the growth of the peer to peer (P2P) lending market. Major players in the peer to peer (P2P) lending market are Avant LLC., Funding Circle, Kabbage Inc., Lending Club Corporation, LendingTree LLC, OnDeck, Prosper Funding LLC, CircleBack Lending Inc., Social Finance Inc., Zopa Bank Limited, Upstart Network Inc., Commonbond Inc., Retail Money Market Ltd., and Peerform. The emergence of decentralized P2P mobile browsers is a key trend gaining popularity in the peer-to-peer lending market. Major companies operating in the peer to peer (P2P) lending market are adopting decentralized P2P mobile browsers to increase their market share. For instance, in March 2022, eQualitie, a Canadian digital security organization, launched CENO, the world's first decentralized P2P mobile browser, built particularly to avoid the censoring techniques used today. It also permits access in areas where connectivity has been disrupted. Although using CENO is similar to using a conventional mobile browser, it runs more reliably than other browsers because it uses a peer-to-peer (P2P) network and the open-source Ouinet library and BitTorrent protocols. The online content cannot be forcibly deleted by outside agents because it is decentralized via peer-to-peer routing. In August 2020, Metro Bank, a UK-based retail banking company, acquired peer-to-peer lender RateSetter for $15.06 million. The acquisition would enable Metro Bank to achieve its goal of boosting unsecured lending and, profitability. RateSetter is a UK-based loan provider and a prominent P2P lending network that allows users to lend and borrow money directly from one another based on their own interest rates. North America was the largest region in the peer to peer (P2P) lending market in 2022. Aisa-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peer to peer (P2P) lending market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the peer to peer (P2P) lending market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The peer-to-peer lending (P2P) market includes revenues earned by secured and unsecured loans. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The peer to peer (P2P) lending market research report is one of a series of new reports from The Business Research Company that provides peer to peer (P2P) lending market statistics, including peer to peer (P2P) lending industry global market size, regional shares, competitors with a peer to peer (P2P) lending market share, detailed peer to peer (P2P) lending market segments, market trends and opportunities, and any further data you may need to thrive in the peer to peer (P2P) lending industry. This peer to peer (P2P) lending market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A digital lending platform refers to a technology-based platform that allows financial institutions to improve business productivity by providing loans through web platforms or mobile apps to generate revenue per loan application. These are used to optimize loan processes, enable fast decision-making, improve regulatory compliance to improve business efficiency, and simplify financial services. The digital lending platform allow borrowers and lenders to lend money in a digital way. The main types of digital lending platform markets are loan origination, decision automation, collections and recovery, risk and compliance management, and others. The loan origination market consists of sales of digital lending platforms by entities (organizations, sole traders, and partnerships) that are used for the purpose of easy loan application services to borrowers, automation, and financial analysis to banks, and reducing time. Loan origination refers to the process of the step-by-step loan application. The components are solution and service, and their deployment model are on-premise and cloud. The various industry verticals include banks, insurance companies, credit unions, savings and loan associations, peer-to-peer lending, and others. The global digital lending platform market is segmented - 1) By Type: Loan Origination, Decision Automation, Collections And Recovery, Risk And Compliance Management, Other Types 2) By Component: Software, Service 3) By Deployment Model: On-Premise, Cloud 4) By Industry Vertical: Banks, Insurance Companies, Credit Unions, Savings And Loan Associations, Peer-To-Peer Lending, Other Industry Verticals The global digital lending platform market size will grow from $10.74 billion in 2022 to $12.95 billion in 2023 at a compound annual growth rate (CAGR) of 20.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global digital lending platform is expected to grow to $27.03 billion in 2027 at a CAGR of 20.2%. The surge in the use of smartphones is expected to propel the growth of the digital lending platform market going forward. The smartphone is a mobile device that has a touchscreen interface, an operating system capable of running downloaded apps, and internet access. Due to the surge in the use of smartphones, users and borrowers are applying for instant loans using digital lending. For instance, according to DataReportal, a Singapore-based online reference library, in 2022, the number of smartphones in use is rising at a 5.1 percent annual rate, with an average of 1 million smartphones coming into use every day. Therefore, the surge in the use of smartphones is driving the growth of the digital lending platform market. Major players in the digital lending platform market are ICE Mortgage Technology Inc., Fiserv Inc., Nucleus Software Exports Limited, Newgen Software Technologies Ltd., Intellect Design Arena Ltd., Temenos AG, Pegasystems Inc., Sigma Infosolutions Ltd., Finastra Limited, Roostify Inc., CU Direct Corporation, DocuTech Corporation, Decimal Technologies Pvt Ltd., Mambu GmbH, Built Technologies, Wipro Limited, Auxmoney GmbH, Accenture, HES FinTech, Swiss Fintech AG, Teylor AG, and DocuSign Inc. Technological advancements are the key trends gaining popularity in the digital lending platform market. Major market players are concentrating their efforts on creating innovative technologies to enable automation across business processes. For instance, in October 2021, Roostify Inc., a US-based digital home lending platform launched Roostify Document Intelligence (RDI), an AI-powered Application Programming Interface on the home lending platform that provides process automation and easy document management for classification, validation, and extract data from loan-related documents. It can notify users with automatic feedback when they upload incorrect documents. In July 2022, M2P Fintech, an India-based API Platform for banking and payments products acquired Finflux for an undisclosed amount. With this acquisition, M2P Fintech aimed to roll out support for lending products and improve workflow automation. Finflux is an India-based cloud lending platform. North America was the largest growing region in the digital lending platform market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital lending platform market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the digital lending platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The digital lending platform market includes revenues earned by entities by commercial loans, consumer loans, commercial finance, and a 24/7 loan marketplace. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The digital lending platform market research report is one of a series of new reports from The Business Research Company that provides digital lending platform market statistics, including digital lending platform industry global market size, regional shares, competitors with a digital lending platform market share, detailed digital lending platform market segments, market trends and opportunities, and any further data you may need to thrive in the digital lending platform industry. This digital lending platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

RegTech, or regulatory technology, is a set of enterprises that employ cloud computing technology and software-as-a-service (SaaS) to assist businesses in complying with regulations more efficiently and cost-effectively. RegTech's primary functions are regulatory surveillance, monitoring, and compliance. The RegTech IS engaged in providing regulatory processes within the financial industry via advanced technologies. The main types of components in RegTech are solutions and services. The RegTech services reduce the threats such as cyberattacks, security breaches, or money laundering by using regulatory-driven transformations. The different modes of deployment include cloud, on-premises and are deployed in various organization sizes such as large enterprises, small and medium-sized enterprises (SMEs). It is used in risk and compliance management, identity management, regulatory reporting, anti-money laundering (AML) and fraud management, regulatory intelligence, and is implemented in several verticals such as banks, insurance companies, fintech firms, it and telecom, public sector, energy and utilities, others. The global regtech market is segmented - 1) By Component: Solutions, Services 2) By Deployment Type: Cloud, On-Premises 3) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs) 4) By Application: Risk And Compliance Management, Identity Management, Regulatory Reporting, Anti-Money laundering (AML) And Fraud Management, Regulatory Intelligence 5) By End User: Banks, Insurance Companies, FinTech Firms, IT And Telecom, Public Sector, Energy And Utilities, Other End Users The global regtech market size will grow from $9.93 billion in 2022 to $12.37 billion in 2023 at a compound annual growth rate (CAGR) of 24.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global regtech is expected to grow to $30.4 billion in 2027 at a CAGR of 25.2%. The rising number of fraudulent activities such as money laundering in the financial sector is expected to propel the growth of the RegTech market in the forecast period. Fraudulent activities such as money laundering have increased and therefore financial organizations need a more powerful RegTech framework that can help risk and compliance teams manage the deluge of ever-increasing regulatory compliance and progressively sophisticated breaches successfully. For example, in 2022, according to a report published by LexisNexis Risk Solutions, a US-based global data and analytics company, the costs of fraud for U.S. and Canadian financial services companies are rising. U.S. financial services companies pay $4.23 instead of $3.64 for every $1 lost to fraud, a 16.2% increase. Canadian financial services companies' costs increased by 19.6%, from $3.16 in 2020 to $3.78 in 2022. Thus, the rising number of fraudulent activities increases the demand for the growth of the RegTech market. Major players in the regtech market are Abside RegTech, Accuity, ACTICO, Acuant Inc., Ascent Technologies Inc., BearingPoint Software Solutions GmbH, Broadridge Financial Solutions Inc., BWise Beheer B.V., Compliance Solutions Strategies, Sysnet Global Solutions, Trulioo, ComplyAdvantage, Fenergo, IBM Corporation, Infrasoft Technologies, Jumio, London Stock Exchange Group plc, MetricStream Inc., NICE Actimize, RIMES Technologies Corporation, and VERMEG. The application of AI, ML, and blockchain technologies has emerged as a key trend in the RegTech market. Major companies operating in the RegTech sector are increasingly adopting AI, ML, and blockchain technologies to automate processes such as data management analysis and due diligence. For instance, in January 2021, Darktrace, a UK-based AI cyber security company launched the fifth version of autonomous response technology for general accessibility, allowing businesses to benefit from the cloud while also safeguarding themselves from new cyber-threats. Compliance with regulations including GDPR, HIPAA, and the DFS Cyber Security Regulations adds to the long list of issues that security professionals face. In November 2022, Regnology, a Germany-based software provider specializing in regulatory reporting solutions, acquired b.fine for an undisclosed amount. This acquisition improves the integration of SupTech and RegTech and leverages powerful connections to provide more automated and standardized procedures to new clients throughout Europe and beyond. b.fine a Belgian RegTech company that helps financial institutions improve the reporting process. North America was the largest region in the regtech market in 2022. The regions covered in the global RegTech market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the regtech market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The RegTech market includes revenues earned by entities by client identification, monitoring, reporting, data protection, data warehousing and analytics, legal and regulatory analysis, training and general compliance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The RegTech market research report is one of a series of new reports from The Business Research Company that provides RegTech market statistics, including RegTech industry global market size, regional shares, competitors with a RegTech market share, detailed RegTech market segments, market trends and opportunities, and any further data you may need to thrive in the RegTech industry. This RegTech market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The artificial intelligence (AI) in fintech refers to a technology used in the fintech space. AI is a part of fintech companies in terms of collection of data, analyzing information, securing and facilitating transactions, creating customer-centric products, and streamlining processes. It provides stronger security, better analytics, and insights, virtual assistance, and chatbots. The main types of products in AI in fintech are solutions and services. The AI as a solution in fintech consists of decision making, automated customer support, fraud detections, claims management, and automated virtual financial assistants. The deployment modes are cloud and on-premise. The applications include asset management, risk investigation, business analytics, regulatory compliance, data collection, predictive analytics, virtual assistance, and others. The global AI in fintech market is segmented - 1) By Type: Solutions, Services 2) By Deployment: Cloud, On-premise 3) By Application: Asset Management, Risk Investigation, Business Analytics, Regulatory Compliance, Data Collection, Predictive Analytics, Virtual Assistance, Other Applications The global AI in fintech market size will grow from $9.15 billion in 2022 to $11.59 billion in 2023 at a compound annual growth rate (CAGR) of 26.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the ai in fintech is expected to grow to $31.71 billion in 2027 at a CAGR of 28.6%. The need for fraud detection in fintech or financial institutions is contributing to the growth of AI in the fintech market. Artificial intelligence, or machine learning algorithms, can learn new information from the data collected, the more data that AI manipulates, the more AI can be learned, and the banks can gain deeper insights with AI technology. The biggest advantage of AI is that over time the algorithm builds on collecting more data and learning more about how to use it. The advantage is that it starts the moment the AI is deployed and continues to grow without interruption of contribution. According to PricewaterhouseCoopers’s survey in 2022, a UK-based financial service provider, in the previous 24 months, fraud, corruption, or other economic crimes were reported by 46% of the organizations polled. Moreover, in September 2021, according to the FintechNews, a Switzerland-based financial and fintech firm, banks are deploying AI-based solutions at an unprecedented rate, spending more than $217 billion on AI applications for middle-office use cases including fraud prevention and risk assessment. The need for fraud detection in fintech drives the market for AI in fintech. Major players in the AI in fintech market are Microsoft, Google, IBM Corporation, Intel Corporation, Amazon Web Services, IPsoft, Salesforce Inc., Nuance Communications, Next IT Corporation, Trifacta Software Inc., Inbenta Technologies, Zeitgold GmbH, and Onfido. Technological Advancement is the key trend gaining popularity in the AI in the fintech market. For instance, in 2021, In India, the Robo-advisory technology refers to the digital platforms that provide financial advice through AI, driven software with zero human intervention. It advises the people to pick up the right stock and even suggests replacing the existing stock in the portfolio based on the factors related to valuations, governance, and performance other things. In May 2020, Cleareye.ai, Inc., a US-based fintech company, acquired AIWare.ai for an undisclosed deal amount. Through this acquisition, Cleareye.ai combines both company teams of AIWare.ai and Cleareye.ai to strengthen their ability to offer solutions such as leveraging artificial intelligence, bionic automation, and advanced analytics. Aiware.ai is an Indian startup that specializes in AI and provides services in the fintech industry. North America was the largest region in the AI in fintech market in 2022. The regions covered in the AI in fintech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the AI in fintech market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The artificial intelligence (AI) in fintech market consists of sales of web development services, big data development services, custom software development, DevOps services, IoT development services, outsourcing software development. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The AI in fintech market research report is one of a series of new reports from The Business Research Company that provides AI in fintech market statistics, including AI in fintech industry global market size, regional shares, competitors with an AI in fintech market share, detailed ai in fintech market segments, market trends and opportunities, and any further data you may need to thrive in the AI in fintech industry. This AI in fintech market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.