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Key regions: United Kingdom, United States, China, Brazil, Australia
The Marketplace Lending (Consumer) market in Bosnia and Herzegovina is experiencing significant growth and development.
Customer preferences: In Bosnia and Herzegovina, consumers are increasingly turning to marketplace lending platforms as an alternative to traditional banks for their borrowing needs. This shift in customer preferences can be attributed to several factors. Firstly, marketplace lending offers convenience and accessibility, allowing borrowers to apply for loans online and receive funds quickly. This is particularly appealing to younger generations who are accustomed to digital solutions. Secondly, marketplace lending platforms often provide more flexible lending criteria compared to traditional banks, making it easier for individuals with limited credit history or lower incomes to access financing. Lastly, the competitive interest rates offered by marketplace lenders are attractive to borrowers seeking more affordable loan options.
Trends in the market: One of the key trends in the marketplace lending market in Bosnia and Herzegovina is the increasing number of platforms entering the market. As the demand for alternative lending options grows, more players are entering the market to cater to this demand. This increased competition is driving innovation and leading to the development of new lending models and products. Additionally, there is a growing trend towards specialization, with some platforms focusing on specific niches such as small business loans or peer-to-peer lending. This trend allows lenders to better cater to the unique needs of different borrower segments.
Local special circumstances: Bosnia and Herzegovina has a relatively underdeveloped traditional banking sector, with many individuals and small businesses facing difficulties in accessing credit from traditional banks. This has created a favorable environment for marketplace lending platforms to thrive and fill the credit gap. Additionally, the country has a high level of smartphone penetration and internet usage, which further supports the growth of online lending platforms.
Underlying macroeconomic factors: The growth of the marketplace lending market in Bosnia and Herzegovina is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in consumer spending and borrowing. Additionally, low interest rates in the country have made borrowing more affordable, further stimulating demand for loans. However, it is important to note that the market is still relatively small compared to more developed economies, and there are regulatory challenges that need to be addressed to ensure the sustainable growth of the marketplace lending sector. Overall, the marketplace lending market in Bosnia and Herzegovina is poised for further growth and development as more consumers and businesses recognize the benefits of this alternative financing option.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)