What is Online Alternative Finance Market Scope?
The rise of online alternative finance is attributable mainly to technological factors such as the generation of big data due to the growth of the Internet and the advancement of AI technology, and to market factors such as Lehman’s collapse. Online alternative financing is growing in response to the demand for funds from consumers in emerging economies, such as China, who were outside the framework of existing financial institutions, and individuals and small businesses with high credit risks.
The Online Alternative Finance market study is being classified by Type (Market P2P, Balance Sheet P2P and Crowd Funding (Investment, Donation, and Loan)) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Online Alternative Finance market throughout the predicted period.
Lending Club (United States), Prosper Marketplace (United States), SoFi (United States), ZOPA (United Kingdom), StreetShares (United States), Upstart (United States), Peerform (United States), Funding Circle (United Kingdom), Kiva (United States) and Kickstarter (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are MarketInvoice (United Kingdom), iwoca (United Kingdom) and Bibby Financial Services (United Kingdom).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Online Alternative Finance market by Type, Application and Region.
On the basis of geography, the market of Online Alternative Finance 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).
Market Influencers and their development strategies
On 23 April 2019, Lending Clubs partnership with Opportunity Fund and Funding Circle to significantly improve access to transparent, cheap, and ethical finance for small company owners. LendingClub will connect small company loan applicants to Opportunity Fund and Funding Circle through its platform. Before utilizing its current relationship-based lending strategy to finance and service loans, Opportunity Fund will use LendingClub's technology to provide an online application experience with prequalified offers to disadvantaged small companies.
On 06 April 2020, Fablious launch an Online alternative finance Community. Its goal is to change the way people use and find financial goods and credit alternatives. Fablious collaborates with some of the most creative alternative finance businesses to provide FCA-regulated alternative financing solutions to customers.
Influencing Market Trend
- Growth of the Internet and the Advancement of AI Technology
Market Drivers
- Advancement of Technology has Enabled to Develop new Business Models from the Consumer’s Point of View
- Fintech Companies Were able to Enter the Financial Market with Lowcost Through Regulatory Uncertainty
Opportunities
- Increasing Demand for Online Alternative Finance from Developed Countries, such as the United States and the United Kingdom
Restraints
- Traditionally used Direct Finance Relatively Easily and have a Variety of Procurement Options
Challenges
- Lack of Awareness about Online Alternative Finance
Key Target Audience
Online Alternative Finance Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
Customization available in this Study:
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