Worldwide Lending and Payments Industry to 2030 - Players Include Bank of China, JP Morgan and Wells Fargo Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Lending and Payments Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global lending and payments market as it emerges from the COVID-19 shut down.

The global lending and payments market is expected to grow from $6708.1 billion in 2020 to $7662.19 billion in 2021 at a compound annual growth rate (CAGR) of 14.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9770.89 billion in 2025 at a CAGR of 6%.

Companies Mentioned

• Industrial and Commercial Bank of China
• Agricultural Bank of China
• Bank of China
• JP Morgan
• Wells Fargo

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Western Europe was the largest region in the global lending and payments market, accounting for 34% of the market in 2020. Asia Pacific was the second largest region accounting for 28% of the global lending and payments market. Africa was the smallest region in the global lending and payments market.

Alternative lending is gaining traction as it gives loans to individuals and businesses who cannot access loans through traditional banking platforms. Alternative lending is becoming popular mainly because offering commercial loans to small businesses is deemed unprofitable by traditional banks. Alternative lenders rely on advanced technologies such as big data to obtain data-driven insights, which can be used to quicken the overall lending process. This allows alternative lenders to earn profits on loans which are conventionally considered unprofitable by traditional lenders. Examples of alternative lenders include Lending Club and OnDeck.

Artificial Intelligence is gaining prominence in payments sector due to its various applications allowing the businesses in synthesizing data to improve customer experience. Artificial Intelligence refers to the development of computer systems which are able to perform tasks using human intelligence. AI enables payment companies to improve their operational efficiency such as reducing processing times, error free insights and increased automation. Many banking and non-banking institutions are using AI application to monitor payment transactions from the point of payment message to payment gateway. For example, AI enabled application chatbots are being adopted by payment firms as they are able to understand customer language and respond to customer queries on real-time basis. AI machine learning is significantly used to improve fraud detection and reduce false transactions. For Instance, in 2018, Pega conducted a survey on AI in payments industry. According to the survey, 72% of payment industry executives have understood the importance of AI and 28% felt uncomfortable with use of AI.

Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Lending And Payments Market Characteristics

4. Lending And Payments Market Product Analysis

4.1. Leading Products/ Services

4.2. Key Features and Differentiators

4.3. Development Products

5. Lending And Payments Market Supply Chain

5.1. Supply Chain

5.2. Distribution

5.3. End Customers

6. Lending And Payments Market Customer Information

6.1. Customer Preferences

6.2. End Use Market Size and Growth

7. Lending And Payments Market Trends And Strategies

8. Impact Of COVID-19 On Lending And Payments

9. Lending And Payments Market Size And Growth

9.1. Market Size

9.2. Historic Market Growth, Value ($ Billion)

9.3. Forecast Market Growth, Value ($ Billion)

10. Lending And Payments Market Regional Analysis

10.1. Global Lending And Payments Market, 2020, By Region, Value ($ Billion)

10.2. Global Lending And Payments Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region

10.3. Global Lending And Payments Market, Growth And Market Share Comparison, By Region

11. Lending And Payments Market Segmentation

11.1. Global Lending And Payments Market, Segmentation By Type

11.2. Global Lending And Payments Market, Segmentation By End User

12. Lending And Payments Market Segments

12.1. Global Lending Market, Segmentation By Type

12.2. Global Cards & Payments Market, Segmentation By Type

13. Lending And Payments Market Metrics

13.1. Lending And Payments Market Size, Percentage Of GDP, 2015-2025, Global

13.2. Per Capita Average Lending And Payments Market Expenditure, 2015-2025, Global

For more information about this report visit https://www.researchandmarkets.com/r/6jepci