Report Overview

Saudi Arabia Loan Aggregator Market - Industry Trends & Forecast Report, 2030

Saudi Arabia Loan Aggregator Market size was estimated to be worth USD 42.03 million in 2023. During the forecast period between 2024 and 2030, the Saudi Arabia Loan Aggregator Market size is projected to grow at a CAGR of 6.02%, reaching a value of USD 90.19 million by 2030. Major growth factors for the Saudi Arabia Loan Aggregator Market include the flourishing financial sector, rising demand for loans from small and medium-sized enterprises (SMEs), and their need for accessible and quick loan solutions. Additionally, the expanding digital landscape of the Kingdom and the launch of specialized financing options are anticipated to provide lucrative growth opportunities to the Saudi Arabia loan aggregator market during the forecast period.

Loan Aggregator – Overview

Loan aggregators present borrowers with a selection of loan proposals from several lenders. Aggregators link borrowers' requirements and credentials with lenders in their network who meet their desired criteria. They collect data from many sources via third-party services and API gateways. They then combine it into a feature-rich comparison presentation that enables users to choose the perfect product and start a direct purchase from the platform. For their comprehensive loan application procedure, these aggregators charge a certain amount for each unique end-to-end service.

Saudi Arabia Loan Aggregator Market

Growth Drivers

Growing Demand for Loans among SMEs

The Saudi Arabia Loan Aggregator Market is anticipated to grow over the forecast period due to the increase in small enterprises. The number of SMEs operating in Saudi Arabia climbed to 752,560 in Q1 2022 from 650,550 in the same period the previous year, indicating a 14.6% year-over-year growth, according to the most recent data from the General Authority for Small and Medium Enterprises (Monsha'at). Loan aggregators help make it easier for individuals and businesses, both new and established, to get loans. This encourages new investments while also accelerating economic expansion.

Challenges

Cybersecurity Concerns

A significant number of loan aggregators operate through online mode, which requires both banks and consumers to provide their data to the platform. The acquisition of loan requires different kind of documents, such as identity proof, address proof, and property documents, which are needed to be uploaded on the website of the loan aggregator. It may expose them to potential cyberthreats and security concerns and limit the growth of Saudi Arabia Loan Aggregator Market.

Saudi Arabia Loan Aggregator Market

Segmental Coverage

Saudi Arabia Loan Aggregator Market – By Mode of Operation

Based on the mode of operation, the Saudi Arabia Loan Aggregator Market is segmented into online and offline. The online segment is expected to grow at a higher CAGR in the Saudi Arabia Loan Aggregator Market. Online loan aggregators allow customers to have a seamless loan acquisition process in the convenience of their homes through bank tie-ups and help in the pre- and post-application process, contributing to their market growth.

Saudi Arabia Loan Aggregator Market – By Loan Type

Based on loan type, the Saudi Arabia Loan Aggregator Market is segmented into home loans, credit cards, personal, auto, and SME/commercial. The home loans segment accounts for the highest market share. The growth of the segment is mainly attributed to the rising demand for residential facilities and the increasing cost of real estate. As reported by Arab News, the apex bank claims that new residential mortgage lending by Saudi banks rose by 31.7% in August over July. The rising population and increasing purchasing power of consumers are boosting the demand for houses, apartments, and land, which is anticipated to boost the demand for home loans during the forecast period.

Saudi Arabia Loan Aggregator Market – By Region

The in-depth research report on the Saudi Arabia Loan Aggregator Market covers the following five major regions: North Saudi Arabia, South Saudi Arabia, East Saudi Arabia, West Saudi Arabia, and Central Saudi Arabia. Central Saudi Arabia dominates the Saudi Arabia Loan Aggregator Market owing to the presence of the capital city, Riyadh, which is also the main financial hub of the region.

Competitive Landscape

Major players operating in the Saudi Arabia Loan Aggregator Market include Intelligent Solutions, Creative Future for Digital Brokerage, Lendo Inc., Ruqayyah Platform, and Forus Financing. These companies employ various strategies to further enhance their market share, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In December 2023 – Smart Interaction, a fintech firm based in Saudi Arabia, reported having secured a license to offer financial aggregation services across the Kingdom.

Scope of the Report

By Mode of Operation

• Online

• Offline

By Loan Type

• Home Loans

• Credit Cards

• Personal

• Auto

• SME/Commercial

By Region

• North Saudi Arabia

• South Saudi Arabia

• East Saudi Arabia

• West Saudi Arabia

• Central Saudi Arabia

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3.  Saudi Arabia Loan Aggregator Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing Demand for Online Financial Services
         2. Technological Advancements
         3. Increasing Demand for Convenient and Quick Access to Financial Services
         4. Rising Awareness and Acceptance
      2. Restraints
         1. Cultural and Regulatory Factors
         2. Cybersecurity Concerns
         3. Limited Market Penetration
      3. Opportunities
         1. Increasing Digitalization and a Tech-Savvy Population
         2. Product Diversification
         3. Strategic Partnerships
      4. Challenges
         1. Fierce Market Competition and the Need to Build Trust Among Consumers
         2. Economic Uncertainties and Fluctuations
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Mode of Operation of Suppliers
      2. Bargaining Mode of Operation of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Loan Aggregator Market, Pricing Analysis
5. Saudi Arabia Loan Aggregator Market: Marketing Strategies
6. Saudi Arabia Loan Aggregator Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share and Forecast
      1. By Mode of Operation
         1. Online
         2. Offline
      2. By Loan Type
         1. Home Loans
         2. Credit Cards
         3. Personal
         4. Auto
         5. SME/Commercial
      3. By Region
         1. North Saudi Arabia
         2. South Saudi Arabia
         3. East Saudi Arabia
         4. West Saudi Arabia
         5. Central Saudi Arabia
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Saudi Arabia Loan Aggregator Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on Saudi Arabia Loan Aggregator Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Intelligent Solutions
   2. Creative Future for Digital Brokerage
   3. Lendo Inc.
   4. Raqamyah Platform
   5. Forus Financing
   6. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1.    Qualitative Research
       1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Saudi Arabia Loan Aggregator Segmentation

Figure 2       Saudi Arabia Loan Aggregator Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Saudi Arabia Loan Aggregator Market Size, By Value (USD Million), 2019–2030

Figure 5       Saudi Arabia Loan Aggregator Market Share, By Mode of Operation, By Value, 2019–2030

Figure 6       Saudi Arabia Loan Aggregator Market Share, By Loan Type, By Value, 2019–2030

Figure 7       Saudi Arabia Loan Aggregator Market Share, By Region, By Value, 2019–2030

List of Tables

Table 1        Saudi Arabia Loan Aggregator Market Size, By Value (USD Million), 2019–2030

Table 2        Saudi Arabia Loan Aggregator Market Share, By Mode of Operation, By Value, 2019–2030

Table 3        Saudi Arabia Loan Aggregator Market Share, By Loan Type, By Value, 2019–2030

Table 4        Saudi Arabia Loan Aggregator Market Share, By Region, By Value, 2019–2030

Table 5        Intelligent Solutions Company Overview

Table 6        Intelligent Solutions Financial Overview

Table 7        Creative Future for Digital Brokerage Company Overview

Table 8        Creative Future for Digital Brokerage Financial Overview

Table 9        Lendo Inc. Company Overview

Table 10      Lendo Inc. Financial Overview

Table 11      Raqamyah Platform Company Overview

Table 12      Raqamyah Platform Financial Overview

Table 13      Forus Financing Company Overview

Table 14      Forus Financing Financial Overview