The graph presents the benchmarkt transaction value of the FinTech consumer lending platforms sector in the United Kingdom in 2014, and provides a forecast thereof until 2020. The statistic shows the annual transaction value in the market as a share of the referring total market potential in percentage terms. The FinTech consumer lending platforms sector had a share of 0.09 percent in 2014. An overview of all Digital Markets can be found here.
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Benchmarked transactional value of the FinTech consumer lending platforms sector in the United Kingdom (UK) from 2014 to 2020
Characteristic
Benchmark - consumer short-term loans
Consumer lending platforms
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* Estimate. ** The figures show the annual transaction value in the selected market (market segment, region) as a share of the referring total market potential in percentage terms.
“Consumer 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. Portals such as Lending Club and Prosper 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 co-operation alongside 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 demanded in terms 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. Comparison and online marketplaces for bank credit are not included in this segment.
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Statista (Digital Market Outlook). (September 30, 2015). Benchmarked transactional value of the FinTech consumer lending platforms sector in the United Kingdom (UK) from 2014 to 2020 [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/497666/digital-market-outlook-consumer-lending-platforms-benchmark-transaction-value-uk/
Statista (Digital Market Outlook). "Benchmarked transactional value of the FinTech consumer lending platforms sector in the United Kingdom (UK) from 2014 to 2020." Chart. September 30, 2015. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/497666/digital-market-outlook-consumer-lending-platforms-benchmark-transaction-value-uk/
Statista (Digital Market Outlook). (2015). Benchmarked transactional value of the FinTech consumer lending platforms sector in the United Kingdom (UK) from 2014 to 2020. Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/497666/digital-market-outlook-consumer-lending-platforms-benchmark-transaction-value-uk/
Statista (Digital Market Outlook). "Benchmarked Transactional Value of The Fintech Consumer Lending Platforms Sector in The United Kingdom (Uk) from 2014 to 2020." Statista, Statista Inc., 30 Sep 2015, https://www.statista.com/statistics/497666/digital-market-outlook-consumer-lending-platforms-benchmark-transaction-value-uk/
Statista (Digital Market Outlook), Benchmarked transactional value of the FinTech consumer lending platforms sector in the United Kingdom (UK) from 2014 to 2020 Statista, https://www.statista.com/statistics/497666/digital-market-outlook-consumer-lending-platforms-benchmark-transaction-value-uk/ (last visited August 25, 2024)
Benchmarked transactional value of the FinTech consumer lending platforms sector in the United Kingdom (UK) from 2014 to 2020 [Graph], Statista (Digital Market Outlook), September 30, 2015. [Online]. Available: https://www.statista.com/statistics/497666/digital-market-outlook-consumer-lending-platforms-benchmark-transaction-value-uk/