These are the findings of analysts from Robocash Group who have studied search requests for lending products. They have also revealed that the fastest growing segment of lending is related to online loans. Since January 2020, the number of these queries has increased by 96.4%.
Singapore | June, 2023 — The study considers Singapore, Thailand, Malaysia, Indonesia, Cambodia, the Philippines, Vietnam, Laos, Myanmar and Brunei. It is based on monthly data from Google Ads for the period from January 2020 to April 2023 and included 88 keyword combinations related to lending.
All data have grouped in bigger categories such as Auto & Moto Loan, Salary Loan, Home Loan, Education Loan, Credit Card, Instalment Loan, Online Loan and others.
The total number of monthly requests for the period from January 2020 to April 2023 has increased by 14.6%, from 647.2 to 741.5 thousand per month.
The fastest growing segment is represented by online loans. This group of requests is growing on average by 1.6% per month and in total, it has increased by 96.4% since January 2020. At the same time, such queries as education loans, show a negative trend (-0.5% monthly). The slowest-growing requests are those related to home loans (+0.1% monthly).
“These findings indicate stable demand in Southeast Asia for online loans and for lending in general. Our corporate data also confirm this tendency. For instance, the number of loans issued by our company in the Philippines grew by 251% in 2021 and by 72% in 2022. In Vietnam, it increased by 271% in 2021 and by 105% last year. This year we also expect the trend to continue”, – says Natalya Ischenko, CEO of Robocash Group.
About Robocash Group:
Robocash Group is a group of companies, which provides FinTech services in Asia and Europe. Founded in 2013, the Group focuses on providing financial solutions for the underserved by the traditional banking system. All products of the Group are built completely in-house using artificial intelligence, machine learning and data-driven technologies to provide precise and comprehensive risk management, comfort and speed for customers and efficiency for business.