UAE Online Lending Aggregators Market Research Report includes BankOnUs Credit Cards Online Market Revenue, UAE Online Aggregators Commission Rates, UAE Impact of COVID 19 on Lending Industry, UAE Loans Outstanding Emirates in AED, UAE loan disbursement fee rates and the future of online loan aggregators market in UAE, Future outlook for retail lending and online loan aggregators, Impact of COVID 19 on UAE lending industry, Major lending providers in the UAE, online brokers vs online loan industry in UAE, online loan market in UAE, PolicyBazaar UAE credit card revenue, PolicyBazaar UAE online loan market share, PolicyBazaar UAE personal loan revenue, credit aggregator revenue in d en UAE, UAE Souqalmal personal loan income, UAE cash loans, UAE online loan market, UAE online credit card market, UAE fintech market.
Gurugram, India, March 09, 2022 (GLOBE NEWSWIRE) — The banking industry in the UAE is a highly fragmented field with approximately 60 national and international banks present in the country. After the 2016 oil crisis, UAE banks suffering from high NPAs tended to be more cautious when lending to businesses and individuals in particular, increasing refusal rates. Even now, banks generally avoid lending to expats (sometimes with additional eligibility requirements), preferring to lend to nationals working in government jobs. Because of this, expats (population 8.5m) are often seen resorting to credit aggregators.
Personal loans including Personal Loans, Credit Cards, Mortgage/Home Loans, Auto Loans are the second most requested credit category in the UAE. With minimal documentation and approval criteria, personal loans in UAE are mainly acquired for home renovations, travel, repayment of other loans, etc. In recent years, outstanding personal loans in the UAE have gained momentum due to increased demand from the workforce in Dubai & Northern Emirates regions. However, given similar documentation and approval criteria, one must assume that demand for credit cards will follow a similar trend. On the contrary, credit card transactions have declined due to the limited availability of merchant banking infrastructure, making credit card use restricted and challenging.
Request sample report @ https://www.kenresearch.com/sample-report.php?Frmdetails=MzM3MDc0
In the last 2-3 years, property prices in the UAE followed a downward trend and reached an average price of AED 2.58 million by 2019, shifting from investor-led market to owner-occupied market. Obtaining a home loan in the UAE is a costly and time-consuming process, so consumers often turn to online aggregator services to either compare loan prices or get assistance with the entire loan acquisition process.
Instead of buying a new car, consumers have switched to alternative options such as car leasing, car subscriptions or buying a used car in recent years. This, in turn, has reduced the country’s auto sales year by year, which in turn has negatively impacted the demand for auto loans in the country. However, car dealerships often have ties with multiple banks, thus helping buyers with loan negotiations and fee negotiations, which is one of the main reasons consumers avoid favoring online aggregator services.
SME loans can be an area of great potential for online aggregators. According to the 2018 Dubai SME Report, 400,000 MSMEs contribute ~40% to GDP and employ 42% of the city’s workforce. However, due to credibility issues and non-compliance with collateral requirements, SMEs in the UAE suffer from a 60-65% rejection rate, which is why they often find themselves mainly relying on self-financing options or on aggregators for loan brokerage.
The COVID-19 pandemic has made the industry aware of the importance of online operations and has led to a major shift in consumer behavior as consumers prefer contactless online services. Such a situation is expected to present an opportunity for online loan aggregators, which is expected to generate huge growth from increased traffic and leads.
Covered Companies: –
Political bazaar UAE
UAE Cash Loan
Time Period Covered in Report: –
historical period: 2015-2019
forecast period: 2020-2024
Key Topics Covered in the Report:-
Socio-demographic, economic and banking scenario in the UAE
Snapshot of credit scenario in United Arab Emirates segmented into commercial and industrial loans, personal loans, government loans, public loans and loans to financial institutions
Retail credit scenario segmented by Personal Loans, Credit Cards, Mortgage/Home Loans, Auto Loans, and others
Gaps in the traditional lending industry filled by online lending aggregators
Online Loan Aggregator Industry in UAE with business model followed
End-to-end customer journey followed
The technological and operational structure followed
Regulatory Landscape in the UAE Credit Industry
Competitive landscape including overview, ecosystem and cross comparison between major players on the basis of operations, loan providers, product portfolio, strengths and weaknesses analysis, website features
company profiles-YallaComapre, Souqalmal, BankOnUs, PolicyBazaar UAE, SoulWallet, UAE Cash Loan
International case studies – PaisaBazaar (India), Money Super Market (UK)
Future prospects for retail loans and online loan aggregators
Effects of COVID 19
Online Loan Aggregator Market UAE
Online loan industry in UAE
Online loan market in UAE
PolicyBazaar UAE Credit Card Revenue
PolicyBazaar UAE Online Loans Market Share
PolicyBazaar Personal Loan Income in UAE
Revenue Loan Aggregators UAE
Souqalmal UAE Personal Loan Income
Online loan market for cash loans in UAE
UAE Credit Cards Online Market
UAE fintech market
Online Aggregator Services Market in United Arab Emirates
Online Car Loan Market in United Arab Emirates
UAE Online Sales Loans UAE
UAE Online Loan Aggregator Industry
For more information about the research report click on the following link:-
Related Reports by Ken Research:-
With more than 150 registered insurers, Indonesia lags behind other Asian countries in terms of insurance penetration rate (2.8% versus a global average rate of 6.1%). Insurance in Indonesia is usually only purchased due to legal requirements and those who buy it out of necessity usually opt for packages that include additional benefits such as repair coverage, prescription drug cost coverage, etc. Of the numerous types of insurance offered in the country, is life It has been observed that insurance companies are leading with a market share of >40% and are gaining in importance primarily through corporate benefits and investment-linked products.
The auto finance market in Singapore has been observed to be in the growth phase in 2015-2020 due to increasing digital advancements to simplify the loan application process, emerging eco-friendly auto loans, the introduction of financial aggregators and more. The auto finance industry in Singapore had grown at a CAGR of 0.7% based on disbursed auto loans and 2.2% based on outstanding auto loans in 2015-20. The CAGR was comparatively low as fewer cars were financed in 2020 due to COVID-19. As of 2020, an average of 85-90% of vehicles sold in Singapore were financed, with around 65% of the cost borrowed from Auto Financial Institutions.
The auto finance market has played a compelling role in the overall contribution to GDP (constant prices) in the Philippine economy, with a value contribution of more than 25% in terms of outstanding auto loans through the end of 2019 (preliminary). The auto finance market in the Philippines is fairly new and has not been able to penetrate the country. There is a lack of knowledge and awareness in the country, leading to the problem that people choose to buy cash instead of making financial payments. Main operations are carried out by two types of companies namely banks and subsidiaries and non-bank financial institutions. The only captive financing operating in the country is Toyota Financial Services Philippines and otherwise there is a dearth of captive financial institutions.
The auto finance market has played a compelling role in the overall contribution to GDP in the Thai economy with a valuable contribution of ~ in terms of auto loans disbursed by the end of 2019. The market exhibits similar trends that are quite consistent with the domestic vehicle sales market, qualitatively & quantitatively. After a breakout in 2015, the market is currently in its recovery phase and is showing a slow growth rate. The size of the Thai auto finance market in terms of outstanding auto loans increased in the period 2014-2019P, thus recording a positive CAGR over the same period. Growth factors include lower lending rates, growth in new and used car sales, rising household disposable income and higher farm incomes, as well as ongoing technological advances mandated by the government and the adoption of digitization by all the country’s major financial institutions.
Ankur Gupta, Head of Marketing & Communications
CONTACT: Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications [email protected] +91-9015378249