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2022 Digital Lending Trends: How Do Fintechs Compare to Traditional Lenders?

June 1, 2023 by Laura Davis

The unsecured personal loan, one of the most popular products in the financial space, has seen ebbs and flows over the last several years due to many factors, including economic volatility, the global pandemic, changing consumer behaviors and expectations, and more.

Experian data scientists and analysts took a deep dive into data between 2018 and 2022 to uncover and analyze trends in this important industry segment. Additionally, they recommend fintech lending solutions to help fintechs stay ahead of ever-changing market conditions and discover new opportunities.

This analysis shows that digital loans accounted for 45 percent of the market in 2022. While this is down from 52% in 2021, digital loan market share continues to grow. The analysis also provides a detailed look into who the digital borrower is and how they compare to traditional borrowers.

As we look to the rest of 2023 and beyond, fintechs must be armed with the best digital lending technology, tools, and data to fuel profitable growth while mitigating as much risk as possible.

Download our fintech trends report for a full analysis on origination volume trends, delinquency trends, and consumer behavior insights.

Download now

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