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NEW YORK, Dec. 5, 2017 /PRNewswire/ -- S&P Global Market Intelligence recently published its second annual set of flagship whitepapers on U.S. Digital Lending and U.S. Mobile Banking, both building on S&P's deep and expanding financial technology (fintech) coverage.
The 2017 U.S. Digital Lending Landscape white paper projected that digital lending growth will slow down over the next several years, contrary to similar industry reports, as lenders look to build sustainable and profitable businesses focused on quality borrowers. The report forecasts that digital lenders will originate $62.84 billion in new loans in 2021, up from $29.31 billion in 2016, representing a compound annual growth rate (CAGR) of 16.5% through 2021. This compares to a CAGR of 129.4% for the five-year period ended Dec. 31, 2016.
The 2017 U.S. Mobile Banking Landscape, based on a survey conducted by S&P Global Market Intelligence of 4,000 respondents and research into more than 70 bank apps, found that banks across the U.S. are adopting a mobile-first strategy for their digital offerings. The survey also found that meeting customers' increasingly sophisticated expectations for mobile apps often means that banks have to invest in services such as P2P payments that do not directly add revenue.
"The growth of fintech has transformed the way consumers and businesses gain access to financial services, which drives innovation across the board," said Eric Turner, Fintech Analyst at S&P Global Market Intelligence. "Fintech has grown to a point where both Congress and regulators have started to take a closer look at how to create regulation that protects consumers without stifling innovation. Over the past year, we have researched and analyzed key drivers within the fintech space such as mobile banking, digital lending, blockchain, cryptocurrency and more. A common theme across some of these segments is lack of consistent regulation, but also continued desire to innovate on the part of small startups and large institutions alike. Going forward, we will see widespread innovation thanks to partnerships between incumbent institutions and startups."
Additional takeaways from 2017 U.S. Digital Lending Landscape white paper:
Additional takeaways from 2017 U.S. Mobile Banking Landscape white paper include:
The two whitepapers add to S&P Global Market Intelligence's suite of fintech research and analysis, which has expanded since formally launching in late 2016. The scope of research has cultivated the launch of S&P Global's first fintech conference titled Fintech Intel: Technology For Tomorrow's Financial Institutions. The day-long conference will be held on December 13 in New York City and is open to the press.
Additional fintech research published through 2017 include:
To learn more about S&P Global Market Intelligence's fintech research, please click here.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we know that not all information is important—some of it is vital. Accurate, deep and insightful. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, understand competitive and industry dynamics, perform valuations and assess credit risk. Investment professionals, government agencies, corporations and universities globally can gain the intelligence essential to making business and financial decisions with conviction.
S&P Global Market Intelligence a division of S&P Global (NYSE: SPGI), provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/marketintelligence.
View original content with multimedia:http://www.prnewswire.com/news-releases/sp-global-market-intelligence-publishes-second-annual-us-digital-lending-landscape-and-us-mobile-banking-landscape-whitepapers-in-continued-expansion-of-fintech-coverage-300566493.html
SOURCE S&P Global Market Intelligence
Copyright 2017 PR Newswire
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