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Personal Loan Market Projections and Consumer Impact
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The personal loan market is projected to reach a valuation of nearly USD 597.6 billion by 2029, driven by factors like rising financial growth and digitalization, while facing challenges from COVID-19. Consumer behavior influences FinTech lending patterns, with specific preferences for borrowers with certain characteristics.
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How might the projected valuation of the personal loan market affect the lending industry and consumer access to credit?
In what ways can understanding consumer behavior influence the development of more effective personal loan products and services?
What strategies can FinTech companies and financial institutions adopt to mitigate the challenges posed by COVID-19 on the personal loan market?
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