Fintechs more than doubled personal loan market-share in four years

Experian released its first Fintech Marketplace Trends Report, highlighting the latest findings in fintech unsecured personal loans. According to the report, competition in personal lending between traditional financial institutions and fintechs is increasing with fintechs more than doubling their market share in four years to 49.4 percent, up from 22.4 percent in 2015. Experian data also shows that the unsecured personal loan category has grown significantly in the past four years as new loan originations were 1.3 million in March 2019 compared to 656,000 in March 2015.