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Marketplace Lending (Consumer) - Brunei Darussalam

Brunei Darussalam

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Brunei Darussalam is forecasted to achieve US$0.0 in 2024.
When comparing globally, it is evident that the United States leads with a transaction value of US$26,720m in 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of Brunei Darussalam, shedding light on market-specific advancements.
These indicators, along with information from statistical bureaus, trade groups, and businesses, form the basis for the Statista market projections.
Brunei Darussalam's consumer marketplace lending sector is seeing a surge in capital raising activities, indicating growing investor confidence in the country's financial market.

Key regions: United Kingdom, United States, China, Brazil, Australia

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Analyst Opinion

The Marketplace Lending (Consumer) market in Brunei Darussalam is experiencing significant growth and development.

Customer preferences: In recent years, there has been a shift in customer preferences towards online lending platforms in Brunei Darussalam. Consumers are increasingly turning to marketplace lending platforms as an alternative to traditional banks for their borrowing needs. This is primarily driven by the convenience and accessibility offered by online platforms, as well as the ability to access loans quickly and easily. Additionally, marketplace lending platforms often offer competitive interest rates and flexible repayment terms, which further attract consumers.

Trends in the market: One of the key trends in the marketplace lending market in Brunei Darussalam is the increasing popularity of peer-to-peer lending. Peer-to-peer lending platforms connect borrowers directly with individual lenders, cutting out the need for traditional financial intermediaries. This allows for faster loan approvals and lower interest rates, making it an attractive option for both borrowers and lenders. The growth of peer-to-peer lending is also fueled by the increasing trust and confidence in online platforms, as well as the growing awareness of the potential returns for lenders. Another trend in the marketplace lending market in Brunei Darussalam is the emergence of specialized lending platforms. These platforms focus on specific niches, such as small business loans, personal loans, or student loans. By catering to specific customer segments, these platforms are able to provide tailored loan products and services, meeting the unique needs and preferences of borrowers. This trend reflects the increasing demand for customized lending solutions in the market.

Local special circumstances: Brunei Darussalam has a small population and a relatively high level of financial inclusion, with a majority of the population having access to formal financial services. However, traditional banks in the country have historically been conservative in their lending practices, making it difficult for certain segments of the population, such as small business owners and individuals with limited credit history, to access financing. This has created a gap in the market, which marketplace lending platforms are filling by providing alternative sources of funding.

Underlying macroeconomic factors: The development of the marketplace lending market in Brunei Darussalam is also influenced by underlying macroeconomic factors. The country has a stable and growing economy, with a high level of disposable income and a relatively low unemployment rate. This provides a favorable environment for borrowing and lending activities. Additionally, the government of Brunei Darussalam has been supportive of fintech innovation and has implemented policies to promote the growth of the digital economy, including marketplace lending. These factors contribute to the positive outlook for the marketplace lending market in Brunei Darussalam.

Methodology

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.