Q1 2020

US BUSINESS NEWS / Q1 2020 13 consumer lending model in China is different from the US model. Chinese companies typically operate an online-to-offline model.This means investors are found online, but borrowers are served offline through partnerships with the non-bank financial institutions or their agents. In the US and across Europe, alternative lending is almost entirely based on an online model. Far behind the two leading markets, the UK ranked as the third-largest alternative lending market, expected to peak at a value of $4.8bn this year. However, Switzerland, Denmark, and Spain are expected to see the highest growth rates over the coming years, rising by 27.4%, 23.7%, and 22.9% respectively year-on-year. Canada is forecast to show the lowest negative growth with a compound annual growth rate of -5.1% by 2023. Fintech Lending Industry to Hit $390.5bn Value by 2023