Marketplace Lending (Consumer) - Poland

Total transaction value in the MarketMarketplace Lending (Consumer) market market in Poland is expected to reach US$348.20m in 2024.
When compared globally, the United States is projected to have the highest transaction value, reaching US$28bn in 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of the chosen country, providing further understanding of market-specific advancements.
These indicators, coupled with information from statistical bureaus, trade organizations, and businesses, form the basis for Statista's market projections.
In Poland, the Marketplace Lending sector for Consumer Capital Raising is experiencing a surge in peer-to-peer platforms offering innovative financing solutions.

Definition:

Marketplace Lending platforms offer private users the option to place requests for loans in an online marketplace to find private investors who would invest at an appropriate interest rate. These services apply a credit score and list the financial requests by intended purpose before fixing a lending rate. One or more investors can then serve the credit request. Although banks act in cooperation with the platform providers, the lending is done, in principle, without direct exposure, risk audits or the formal requirements normally associated with credit lending. This is attractive for many users because the processes are expedited, there is less demand when it comes of the borrower’s creditworthiness and the conditions are often more flexible than with traditional bank loans. Users are defined in this case as active borrowers on an online platform; applicants or investors who are only partially recorded as users are not included. The amount of outstanding, short-term installments or consumer loans recognized during the applicable year is used here as a benchmark.

Additional Information:

Key players in the market are Lending Club, Zopa, Auxmoney and Prosper.

Online marketplace for personal loan applications and private investors
Peer-to-Peer loans with interest rates depending on internal credit scoring of the platform provider

Online comparison websites for bank loans
Traditional bank loans
Loans for business purposes (see Crowdlending)

Marketplace lending (consumer) in Poland has been experiencing significant growth in recent years, driven by changing customer preferences and a favorable local market environment.

Customer preferences: Polish consumers have increasingly turned to marketplace lending platforms as an alternative to traditional banks for their borrowing needs. This shift in preference can be attributed to several factors. Firstly, marketplace lending offers a more streamlined and convenient borrowing experience, with quick approval processes and digital platforms that allow borrowers to access funds easily. Additionally, marketplace lending platforms often offer more competitive interest rates compared to traditional banks, making them an attractive option for cost-conscious consumers. Lastly, the ability to access loans from multiple lenders on a single platform provides borrowers with a wider range of options and greater flexibility in terms of loan terms and repayment schedules.

Trends in the market: One of the key trends in the marketplace lending market in Poland is the increasing popularity of peer-to-peer lending platforms. These platforms connect individual lenders with borrowers, cutting out the middleman and reducing costs for both parties. This trend is driven by the desire for greater transparency and lower fees, as well as the potential for higher returns for lenders compared to traditional savings accounts. Peer-to-peer lending platforms also benefit from the growing trend of social lending, where borrowers and lenders are connected based on shared interests or affiliations. Another trend in the marketplace lending market in Poland is the expansion of lending platforms beyond traditional personal loans. Many platforms now offer specialized loan products, such as loans for specific purposes like home improvement or education, as well as loans for small businesses. This diversification of loan offerings allows marketplace lending platforms to cater to a wider range of customer needs and attract borrowers who may not have been served by traditional banks.

Local special circumstances: Poland's marketplace lending market has been supported by a favorable regulatory environment. The Polish Financial Supervision Authority has implemented regulations that promote transparency and consumer protection in the marketplace lending sector, ensuring that borrowers are provided with clear and accurate information about loan terms and costs. This regulatory framework has helped to build trust in marketplace lending platforms and has contributed to the market's growth.

Underlying macroeconomic factors: The growth of the marketplace lending market in Poland can also be attributed to underlying macroeconomic factors. Poland has experienced steady economic growth in recent years, with a growing middle class and increasing disposable incomes. This has created a larger pool of potential borrowers who are seeking access to credit for various purposes. Additionally, the low interest rate environment in Poland has made borrowing more affordable, further fueling demand for marketplace lending. In conclusion, the marketplace lending (consumer) market in Poland is experiencing significant growth due to changing customer preferences, favorable market conditions, and supportive regulatory environment. The increasing popularity of peer-to-peer lending platforms and the diversification of loan offerings are key trends driving the market's development. Poland's strong macroeconomic fundamentals, including steady economic growth and low interest rates, have also contributed to the market's expansion.

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.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

Crowdfunding is the collective effort of a large number of individuals who network and pool small amounts of capital to finance a new or existing business venture. Each campaign is set for a goal amount of money and a fixed timeframe, each day is counted down and the money raised will be tallied up for visitors to follow its success. The size of the global crowdfunding market is growing and the largest markets are North America and Asia.