Credit flows by fintech and bigtech companies to GDP (%)
New lending provided by fintech and big tech companies over a calendar year, normalized by nominal GDP. Fintech lending were originally built around decentralised platforms where individual lenders choose borrowers or projects to lend to in a market framework. Some platforms have moved to fund loans from institutional investors rather than only individuals, and many use increasingly sophisticated credit models. The core business of fintech credit platforms remains financial services. Big tech firms, in contrast, have a range of business lines, of which lending represents only one part, while their core business activity is typically of a non-financial nature. These firms have an existing user base, which facilitates the process of onboarding borrowers.
New lending provided by fintech and big tech companies over a calendar year, normalized by nominal GDP.