What is Online Microfinance - Market?
Online microfinance is the provision of saving accounts, loans, insurance, money transfers and other banking services to customers that lack access to traditional financial services due to poverty. It enables entrepreneurs and small business owners in poor or rural regions.
Highlights from Online Microfinance - Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Kiva (United States), Grameen America (United States), BRAC USA (United States), CDC Small Business Finance Corp. (United States), Pacific Community Ventures (PCV) (United States), ASA (Bangladesh), Bandhan (India) and Banco do Nordeste (Brazil) |
Global Online Microfinance - is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Kiva (United States), Grameen America (United States), BRAC USA (United States), CDC Small Business Finance Corp. (United States), Pacific Community Ventures (PCV) (United States), ASA (Bangladesh), Bandhan (India) and Banco do Nordeste (Brazil) are some of the key players profiled in the study. Online Microfinance - Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Entrepreneurs, Small Business and Others |
Type | Joint Liability Group (JLG), Self Help Group (SHG), The Grameen Bank Model and Rural Cooperatives |
Price Range | Below USD 3000,USD 3000-USD10000,USD10000- USD 25000,Above USD 25000 |
Providers | Banks,Micro Finance Institute,Others |
On the basis of geography, the market of Online Microfinance - 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:
Technological Advancement over the Globe and Growing Digitalization
Market Growth Drivers:
Awareness about Online Microfinance among Low-Income Group
Restraints:
Harsh Repayment Criteria among Microfinance
Opportunities:
Growing Implementation of Online Microfinance in Entrepreneurs
Key Target Audience
Online Microfinance - Industry Association, Regulatory Bodies, New Entrants, Potential Investors, Research and Development Institutes and Others
On 7th April 2021, Kiva has announced final close of Kiva Refugee Investment Fund to scale lending to fragile communities globally. It is de-risk and promote the idea of financial inclusion for fragile communities as not only the right thing to do morally but also economically.