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P2P Lending Marketplace Industry Insights: Exclusive 2022 Guide

As of 2022, the P2P lending marketplace is estimated at US$ 407.2 Billion, up from US$ 274.4 Billion in 2021. This represents a year-on-year increase of 48.3%.

P2P Lending Market Growth Rate

Factors Driving the Global Peer-to-Peer Lending Market

Advancement in Technology 

It has allowed investors to get directly associated with businesses or individuals. This has resulted in low-cost operations as compared to the conventional methods, which involve expensive corporate infrastructure and branches. 

Tools for Mass Collaboration

The increasing popularity of web technologies such as “mass collaboration” allows individuals to collaborate together online in groups to achieve their goals. For example, Facebook, eBay, etc.

No Need for a Registered Brick and Mortar Office/Branches

No costs are incurred in setting up physical branches and maintaining them. So, in the long run, this increases the chances of expanding market growthIn the short term, operational costs are reduced. 

Investor-Centric Platforms

In peer-to-peer lending marketplaces, investors can tackle challenges like high-interest rates, property risk, & unemployment rates. 

Key Findings in the P2P Lending Space

  • Lenders are leveraging these platforms to diversify investments. This has helped them capture high returns
  • Consumer lending companies are using AI to assess creditworthiness. 
  • Rise in demand for personal loans have spurred the popularity of P2P lending platforms among investors.
  • The growing demand for direct lending to SMEs is fueling many customer propositions in the peer-to-peer lending market.
  • The growing trend of equity financing & crowd financing among companies is enriching their value chain in the P2P lending market.
  • The growing number of credit-card repayment platforms is boosting the revenue generating potential for the market players.
  • Fintech companies are constantly bringing new features to the platform-based business models. This is expected to reduce fraudulent activities in P2P lending.

Emerging Opportunities in Peer-to-Peer Lending

  • Growing digitization in the banking sector.
  • Market players are adopting many tactics to expand their reach. This is expected to strengthen the market in the assessment period.
  • There is an increased penetration of internet-connected devices in the banks. Besides, the use of smartphones is also rising.
  • The number of businesses & individuals filling online applications to borrow loans has surged significantly.

Our Range of P2P Lending Software Development Services

P2P Lending Consulting Services

Get expert consultation services, ranging from code review to market analysis, all under one roof.

Custom P2P Lending Software Development

Our P2P lending app developers build lending portals backed with high-end features, customized to your needs.

Next-Gen Tech Integration

Make your P2P lending app stand out by equipping it with the latest technology & integrations, including AI/ML, blockchain, & IoT.

Must-Have Features in Your Peer-To-Peer Lending App

Seamless Online Transactions

Help borrowers on your P2P lending app view their pending loan amount or EMIs & conveniently pay the fee online.

Loan Management

Enable the lenders to easily publish loan applications & set a payback period. 

Loan Calculator

Our developers back your solution with an advanced loan calculator. It helps users in keeping an accurate check on the pending amounts.

AI-Based Analytics

Get detailed business insights from the borrowers’ credit history.

Paid/Unpaid EMIs

Allow your borrowers to keep a count of the number of EMIs they have to pay in a specific period.

Rewards & Ratings

Equip your platform with a feedback system. Allow the registered borrowers & lenders to give ratings.

Multi-Currency Support

Offer your borrowers & lenders to deal in multiple currencies. In this way, expand the reach of your P2P lending app.

Automatic Renewal

Let your app users take the benefit of the auto-renewal model built in. It facilitates smoother loan repayment.

KYC Management

Mitigate the lenders’ risks by making borrowers carry out a thorough KYC process.

Our P2P Lending Ap Development Process

Why choose us?

  • Own Your Source Code & IP Rights
  • 100% Customized Solution
  • Endless Integrations
  • Exceptional UI/UX
  • Highly Robust & Scalable Solution
  • 24X7 Dedicated Support

 

Give your P2P lending business the highest flight! Partner with us now to build a robust customized app.

August 18, 2022

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