UAE Online Loan Aggregators Industry Outlook to 2024: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The publication titled ‘UAE Online Loan Aggregators Industry Outlook to 2024 – Driven by Shifting to Contactless Services & Easy Online Loan Facilitation’ undertakes an analysis of the UAE’s socio-demographic, economic & banking outlook; overall lending & retail lending scenario; gaps in traditional models filled by aggregator model; unique operating models in the sector, organizational structure of major players and future outlook & trends expected to drive the Industry. In past years UAE has been one of the highest ex-pats dominated countries (8.5 Mn i.e over 80% of total 9.7 Mn) with the major influx from Asian countries including India, Pakistan, Bangladesh, Philippines. Migrating to UAE for employment opportunities the ex-pat population is often seen resorting to personal loans & credit cards for meeting their initial expenses. The Banking & Insurance sector in the country is driven by strong & durable financial reserves contributing 8-10% of overall GDP. Supplementing banking sector growth, increased virtual banking penetration via Mobile (>85%) & Online Banking Services (>90%) has prompted a noticeable shift among consumers to now preferring online channels for transactions like transfers & fund inquiries. What are the lending patterns in the UAE? Comprising of loans to Government, Business & Industrial sector, Public, Retail & Financial Institutions, gross credit outstanding in the UAE reached AED 1.7 Tn in 2019 recording a CAGR (2014-2019) of ~5%. Occupying the highest share of ~50%, loans to business & industrial units have been increasing mainly from Dubai & Abu Dhabi region while the North Emirates region suffered a decline during 2019. With ~2x higher interest rates charged by finance companies, lending in the UAE is majorly dominated by banks acquiring >90%of credit disbursed across the country. The second most demanded category of the loan was observed to be retail lending acquiring a share of about 21%of total credit outstanding. Retail Loans-Second most demanded Loan Category in the UAE Retail lending in the UAE comprises of loans disbursed to individuals for personal consumption purposes including Personal Loans, Mortgage/Home Loan, Car Loans and others. Post-2016 oil crisis, the banking industry observed an increased the rate in NPAs & rejection rates thereby retail loan outstanding falling continuously to reach AED 361 Bn by 2019. However, trends such as falling interest rates, property prices, rising regional demands (Dubai & Northern Emirates) helped retail loan demand to gain some momentum in 2019. Changing Dynamics of Online Loan Industry-Online Loan Aggregators Online Loan Aggregators operating on either lead generation or customer acquisition seek to reduce the time required for loan selection processes by providing comparison across multiple loan options on the basis of parameters such as interest rates, fees/charges, additional benefits provided, etc. Increased awareness among consumers for understanding before buying, increased internet penetration rate (~99%) & ease in loan facilitation process are some of the major driving factors behind online aggregator’s industry growth of >200% (2018-2019). However stringent regulatory requirements & cumbersome documentation processes still prompt citizens to avail loans from informal channels. Highly Concentrated Competitive Landscape Competitive landscape in the UAE Online Aggregators Industry is observed to be highly concentrated with ~90% of market share occupied by top 4 players including YallaComapre, Souqalmal, BankOnUs & Paisa Bazaar competing on the basis of parameters such as Conversion rates, Traffic generated, After Loan Assistance, Loan Providers, Tools & Advisory services provided. The key strategy adopted by players include diversifying product portfolio, providing comparison services across insurance, telecom, education, property, etc. thereby targeting on becoming “One Stop Solution Provider”. With partnerships across all major loan providers in the country, the major distinguishing factor among players is the level of customized advisory services provided in the loan selection process. COVID 19 Impacting Loan Industry Outbreak of COVID 19 Pandemic is expected to leave major impact across all industries. Adding to the woes, UAE suffered from plunging oil prices in April 2020 thereby contracting the country’s GDP by -3.5%. In order to minimize the dual shocks’ impact, CBUAE launched Targeted Economic Scheme providing relaxations across loan categories. In order to meet liquidity expenditures & working capital requirements, demand for personal loans, credit cards & SME/Commercial loans are expected to increase substantially in 2020. High Potential for Online Aggregator Services Relaxations & capping of fees/charges are expected to increase the demand for retail loans especially for personal loans & credit cards. Car sales in the UAE have been following a downward trend which is expected to continue in the future as well thereby further decreasing demand for car loans. A major shift in the consumer behavior can be expected post-pandemic with people preferring contactless online services providing opportunities for online aggregator services. On the competition front, major players are expected to invest in Artificial Intelligence & Machine Learning to match consumer needs with solutions & in overall customer segmentation. Companies Covered: – YallaCompare Souqalmal BankOnUs Policy Bazaar UAE SoulWallet 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 For More Information on the assess product portfolio, Click on the Below Link: – UAE Online Loan Aggregators Industry Future Related Reports by Ken Research: – India Online Loans Market Outlook to 2019 – Industry Transformation by the Advent of Web Aggregators Competition Benchmarking: Indonesia Peer-to-Peer Lending Market Outlook to 2024 Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: 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 Brokers in UAE, Online Brokers vs Online Aggregators UAE, Online Loan Aggregator Industry UAE, 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 Revenue, 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, UAE Online Loan Aggregator Industry Research Report, UAE Online Loan Aggregator Market, UAE Online Loan Aggregator Market Analysis, UAE Online Loan Aggregator Market Forecast, UAE Online Loan Aggregator Market Growth Rate, UAE Online Loan Aggregator Market Outlook, UAE Online Loan Aggregator Market Research Report, UAE Online Loan Aggregator Market Revenue, UAE Online Loan Aggregator Market Share, UAE Online Loan Aggregator Market Size, UAE Online Loan Market End Users, UAE Online Loan Market Major Players, UAE Online Loans Industry, UAE Online Loans Market, UAE Online Loans Market Major Players, UAE Online Mortgage Loan Market, UAE Online Personal Loans, UAE Online SME Loan Market, UAE Retail Loan Industry Analysis, UAE Retail Loans Market Share, YallaCompare Credit Cards Online Revenue, إيرادات سوق مجمّعات القروض الإماراتية عبر الإنترنت, الإمارات العربية المتحدة, الإمارات العربية المتحدة حجم سوق مجمع القروض عبر الإنترنت, الإمارات العربية المتحدة سوق القروض الرئيسية اللاعبين, الإمارات العربية المتحدة صناعة مجمع القروض عبر الإنترنت, الإمارات العربية المتحدة معدل نمو سوق القروض المجمعة عبر الإنترنت, تحليل سوق مجمّعات القروض الإماراتية عبر الإنترنت, تقرير أبحاث سوق مجمّعي القروض الإماراتي عبر الإنترنت, تقرير أبحاث صناعة مجمعي القروض الإماراتي عبر الإنترنت, توقعات سوق الإمارات العربية المتحدة للقرض عبر الإنترنت, توقعات سوق مجمّعي القروض الإماراتية عبر الإنترنت, حصة سوق مجمّعات القروض الإماراتية عبر الإنترنت, سوق الإمارات العربية المتحدة للقرض عبر الإنترنت, سوق القروض الإلكترونية الإماراتية, سوق القروض عبر الإنترنت في الإمارات, صناعة القروض عبر الإنترنت في الإمارات العربية المتحدة, مستقبل سوق الإمارات العربية المتحدة للقرض عبر الإنترنت