How Online Loan Aggregators contributing to Retail Loan Penetration in UAE

Ken Research Pvt. ltd

UAE Online Loan Aggregator Market Research Report covers BankOnUs Credit Cards Online Market Revenue, Commission Rate Online Aggregators UAE, COVID 19 Impact on UAE Loan Industry, Credit Outstanding in the UAE in AED, Fee rate Loan disbursement UAE, Future of UAE Online Loan Aggregator Market , Future Outlook of Retail Lending & Online Loan Aggregators, Impact of COVID 19 on UAE Loan Industry, Major Loan Providers in UAE, Online Broker vs Online Aggregators UAE, Online Brokers in UAE, Online Loan Aggregator Industry UAE, Online Loan Aggregator Market UAE, Online Loan Industry in UAE, Online Loans Market in UAE, PolicyBazaar UAE Credit Cards Revenue, PolicyBazaar UAE Online Loan Market Share, PolicyBazaar UAE Personal Loan Revenue, Revenue Loan Aggregators UAE, Souqalmal UAE Personal Loan Revenue, UAE Cash Loans Online Loan Market, UAE Credit Cards Online Market, UAE Fintech Market.

Gurugram, India, March 09, 2022 (GLOBE NEWSWIRE) — The banking industry in UAE is a highly fragmented space with a presence of ~60 national & international banks in the country. Post 2016 oil crisis, suffering from high NPAs banks in UAE tended to be more cautious when lending particularly to corporate & individuals thereby increasing rejection rates. Even now, banks generally avoid on lending to expats (sometimes putting additional eligibility conditions) & prefer to provide loans to Nationals working in government jobs. Therefore expats (8.5 Mn populations) are often seen resorting to loan aggregator channel.

Retail loans including personal loans, credit cards, mortgages/home loans, because loans is the second most demanded loan category in UAE. With minimal documentation & eligibility criteria, personal loans in the UAE are majorly acquired for the purposes of house renovations, travel, paying off other loans etc. In past years, outstanding personal loans in UAE have been gaining momentum owing to increased working population demand from Dubai & Northern Emirates regions. However, given similar documentation & eligibility criteria one must expect a similar trend to be followed in credit cards demand as well. On the contrary, credit card transactions have been falling owing to limited Merchant’s Banking Infrastructure availability and making credit cards usage limited & challenging.

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From past 2-3 years, property prices in the UAE have been following a downward trend reaching an average price of AED 2.58 Mn by 2019 and shifting from investor led market to owner-occupied market. Attaining home loan in UAE is a costly & time consuming process, therefore consumers often take online aggregator services to either compare loan prices or get assisted in overall loan acquisition process.

In recent years, instead of purchasing a new car consumers have been shifting to alternative options such as car leasing, car subscriptions or purchasing used cars. This in turn has decreased country’s year on year car sales subsequently negatively impacting car loan demand in the country. However, car dealerships often have tie ups with multiple banks thereby helping purchasers in loan facilitation & charges negotiations which is one of the major reasons for consumers to not preferring online aggregator services.

SME loans can be a high potential area for online aggregators. According to Dubai SME Report of 2018, 400 thousand MSMEs contribute ~40% to the GDP and employ 42% of city’s workforce. However, owing to credibility issues & failing to meet collateral requirements, SMEs in The UAE suffer from 60-65% rejection rate therefore are often seen to rely mainly on self funding options or on aggregators for loan facilitation.

COVID 19 pandemic has made industries realize the importance of online operations and has brought in major shift in consumer behavior with consumers preferring contactless online services. Such a situation is expected to act as an opportunity for online loan aggregators thereby expecting tremendous growth through increased traffic & leads.

Companies Covered: –

  • YallaCompare

  • Souqalmal

  • BankOnUs

  • Policy Bazaar UAE

  • Soul Wallet

  • UAE Cash Loans

Time Period Captured in the Report:-

Historical Period: 2015–2019

Forecast Period: 2020-2024

Key Topics Covered in the Report:-

  • Socio-Demographic, Economic & Banking Scenario in UAE

  • Snapshot of Lending scenario in The UAE with segmentation by Business & industrial Loans, Retail Loans, Loans to Government, Public Loans & Loans to Financial Institutions

  • Retail Lending Scenario with Segmentation by Personal Loans, Credit Cards, Mortgage/Home Loan, Car Loan and Others

  • Gaps in Traditional Loan Industry fulfilled by Online Loan Aggregators

  • Online Loan Aggregator Industry in The UAE with Business Model followed

  • End-to-End Customer Journey followed

  • Technological & Operational Structure followed

  • Regulatory Landscape in UAE Loan Industry

Competitive Landscape including Overview, Ecosystem & Cross Comparison among major players on basis of Operational, Loan Providers, Product Portfolio, Strengths & Weakness Analysis, website Features

Company Profiles-YallaComapre, Souqalmal, BankOnUs, PolicyBazaar UAE, SoulWallet, UAE Cash Loans

International Case Studies-PaisaBazaar (India), Money Super Market (UK)

Future Outlook of Retail Lending & Online Loan Aggregators

Impact of COVID-19

Online Loan Aggregator Market UAE

Online Loans Industry in UAE

Online Loans Market in UAE

PolicyBazaar UAE Credit Cards Revenue

PolicyBazaar UAE Online Loan Market Share

PolicyBazaar UAE Personal Loan Income

Revenue Loan Aggregators UAE

Souqalmal UAE Personal Loan Revenue

UAE Cash Loans Online Loan Market

UAE Credit Cards Online Market

UAE Fintech Market

UAE Online Aggregator Services Market

UAE Online Car Loan Market

UAE Online Distribution Loan UAE

UAE Online Loan Aggregator Industry

For More Information on the research report, click on the below link:-

UAE Online Loan Aggregators Industry

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