The global fintech lending market is expected to reach $4,957.16 billion by 2030, growing at a compound annual growth rate (CAGR) of 27.4% from 2021 to 2030, according to a report by Allied Market Research. The shift from traditional lending to digital lending, government initiatives, and the focus on the digitalization of lending processes are driving market growth. However, security and compliance issues present challenges to market growth. The business lending segment accounted for the largest share of the market in 2020, while the consumer lending segment is projected to have the fastest growth rate. The online lending channel dominates the market and is expected to continue leading throughout the forecast period. North America currently has the highest market share, but Asia-Pacific is expected to witness the largest CAGR during the forecast period.
FinTech Lending Market Booms, Reaching $4,957.16 Bn by 2030
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