United Arab Emirates Online Loan Aggregator Market Size and Research 2021, CAGR


A loan aggregator is an intermediary organization that gathers personal and financial information about a loan application and reviews it around who might offer a loan to a person. These aggregators charge a certain amount to provide the individual end-to-end service throughout their loan application process. Online loan aggregator is rapidly gaining acceptance in underdeveloped regions, for example around UAE, online loan aggregator has become one of the fastest growing industries. The actual growth of reconciliations with several banks supporting buyers in the pre-application and post-loan application process has increased the needs of online loan aggregators.

What are the UAE loan models?

Containing loans to government, commercial and industrial sector, public, retail and financial institutions, the gross outstanding credit around the UAE reached AED 1.7 billion in 2019, registering a CAGR (2014- 2019) by about 5%. Occupying the largest share of around 50%, loans to business and industrial units increased mainly in the Dubai and Abu Dhabi region, while the Northern Emirates region saw a decline throughout 2019. With approximately twice the interest rates charged by financial organizations, loans UAE is mainly registered by banks obtaining over 90% of disbursed loans in the country. The second most popular loan category was retail loans, obtaining a share of about 21% of total credit outstanding.

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Personal loans – second most requested loan category in UAE

Retail lending in UAE involves loans given to individuals for personal consumption, including personal loans, mortgage / real estate loans, car loans and several others. After the 2016 oil crisis, the banking sector saw an increase in APM rate and rejection rates, leading to a continued decline in outstanding personal loans to AED 361 billion by 2019. However, trends such as falling interest rates, real estate prices, increasing regional requirements (Dubai and Northern Emirates) have helped the need for personal loans to grow. in 2019.

A highly concentrated competitive landscape

The major players in the UAE online loan aggregator market are highly aiming at the technological innovations to advance the skill level. Industry growth prospects are captured by confirming the progress of ongoing player procedures and optimal strategies adopted by organizations to address the COVID-19 situation.

The competitive landscape around UAE Online Aggregator industry is highly concentrated with around 90% market share occupied by the top 4 players including YallaComapre, Souqalmal, BankOnUs and Paisa Bazaar competing on the basis of parameters such as conversion rates, traffic generated, after loan assistance, loan providers, tools and advisory services provided. The main strategy adopted by the players is to diversify the product portfolio, to provide comparison services in the fields of insurance, telecommunications, education, real estate, etc., thus aiming to become ” One Stop Solution Provider ”. With partnerships around all of the major loan providers in the country, the most distinctive aspect among the players is the level of personalized advisory services provided in the loan selection process.

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Covid 19 impacts the lending sector

A COVID 19 pandemic outbreak is expected to leave most of it in the foreground across all industries. To add to the woes, the UAE suffered from falling oil prices in April 2020, reducing the country’s GDP by -3.5%. In order to reduce the impact of double shocks, the CBUAE has launched a targeted economic program offering flexibility in loan categories. In order to meet cash expenditure and working capital requirements, the need for personal loans, credit cards and SME / business loans is expected to increase significantly in 2020.

For more details @ https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/uae-online-loan-aggregator-industry-outlook/337074-93.html

Future prospects

A major change in customer behavior can be projected after the pandemic, with people preferring contactless online services providing opportunities for online aggregation services. On the competitive side, major players are expected to invest in artificial intelligence and machine learning to match consumer needs with solutions and across customer segmentation.

Associated reports


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