According to Smarter Loans’ Canada FinTech Lending Study 2022, which gathered the feedback of 2,462 Canadian fintech lending customers, the demand for digitally accessible financial products in Canada continues to grow at a fast pace.
The 4th annual research study by Smarter Loans, published on January 25, 2022, reveals growth and maturation in the FinTech lending sector, evidenced by:
– More new entrants entering the market (60+ lenders now accessible on Smarter Loans)
– Greater trust and overall product satisfaction in the industry, compared to prior years
– More comparison shopping and self-education by borrowers, who increasingly consume videos and social media to make financial decisions
– Loans are getting faster with over 50% of personal loans issued the same day that the application was completed
…and much more!
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Amy Orr is a professional writer and editor with over 10 years of experience in the Canadian, U.S. and U.K. financial markets. She has written for numerous publications on topics as diverse as economic literacy, corporate finance, and technical analysis of numerical data. Prior to transitioning to full-time writing, she worked in the hedge fund sector. Her academic background is astrophysics, and she has a Masters in Finance from the University of Edinburgh Business School.
