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Online lending prospects

2016-06-05 00:00:00

It has been said more than once that the prospect of e-commerce is growing in Russia, so online stores have begun to appear more often. The share of e-currency is increasing, as elsewhere abroad. Banking structures clearly react to such changes. Therefore, a number of banks, whose owners are private individuals, began to offer customers online services, where anyone can get a loan if certain conditions are met. This could not but affect online stores, which began to provide online loans for the sale of their goods.  

Its no secret that making purchases via the Internet is much more profitable and convenient, and sometimes even cheaper, than in ordinary shops on the streets of the city. All these factors determined the fact that e-commerce began to gain popularity, and the online lending system also became much more promising than conventional lending. These favorable conditions were used by online stores, luring customers of those companies that provide services and sell their goods in the usual ways.  

Internet services also benefit from the fact that they do not need to spend a lot of money on starting a business, and their goods are much cheaper. The success of online stores is also facilitated by the fact that the number of citizens who can purchase goods increases significantly and does not depend on the location of the seller himself. But with the growth of solvent potential buyers, the competition between such services also grows. Therefore, in order to stay afloat, online stores must constantly be in the process of their development, providing their customers with more and more new opportunities for the convenience of making a purchase on their resources, including the online lending service. 

With the rapid development of business on the Internet, online banking services began to spread on the World Wide Web. According to official sources, the number of clients in banks in the country that provide an opportunity to use their services via the Internet has increased 4-5 times over the past few years. Therefore, the percentage ratio of those who use the usual services of the bank to those who do so via the Internet varies. For example, for individuals, the figure ranges from 30 to 100 percent. It all depends on the type of banking institution.

 

Online lending

A number of services on the Internet appear solely in order to provide customers with the opportunity to buy goods over the Internet in online services. Due to the growing popularity of conventional lending in Russia, it is not surprising that the online lending system on the Internet has found its potential clients.  

According to one provider of online lending services, most of the countrys citizens borrow household appliances or electronics. Similar statistics are issued by other resources providing similar services. Consumer lending for the purchase of household appliances accounts for about 20% of all purchases made on Internet resources.

Therefore, the most popular service has become the online lending service for purchases of household appliances. This is similar to lending in ordinary retail outlets, where audio equipment and various gadgets are most often taken. Since consumer lending accounts for 5-6% of the total turnover of goods, the number of buyers who take out loans online is huge.  

 

Prospects for the direction of online lending

For the first time, banks began to issue loans online in 2013-2014. Most often, this service was provided for the purchase of laptops, gadgets and household appliances. Today, both small and large companies provide online loan services. But judging by the statistics, only a quarter of all existing Internet services for the sale of such goods provide the service.

According to the results of the survey, it was found that the number of customers in online stores would increase significantly if the services provided them with online lending services. According to the results of the same survey, it is known that only 1% of Internet resources issue such loans, while in ordinary stores the number of those who provide loans is 15-20%. Today, the most demanded are small loans for purchase. Their amount varies from 10 to 15 thousand rubles.

Online lending today is also hampered by the fact that such a loan takes a long time to process. If in an ordinary banking institution you have to wait for a response to an application for a loan for several days, in online stores this period is delayed for a longer time. But here you should also consider the risks of banks. Of course, the online lending system and its level depend on how experienced the banks are in this case. Also, as experts note, the limiting factor that prevents the development of this system is the fact that few potential clients know about such an opportunity as lending via the Internet.   

It is clear that lending online has its advantages, which are also not widely known. Therefore, the lack of advertising in conventional media and advertising in banks leads to the fact that very few people use such a service.

Benefits:

  • Processing an application for a loan takes several tens of minutes.
  • There are no usual formalities for all (income statement and surety).
  • Possibility of buying any necessary thing without leaving home and without visiting a banking institution.
  • Full payment of the cost occurs only upon receipt of the goods.

All of the above indicates that the online lending service will develop in the future. This is also facilitated by the fact that banks are beginning to pay more and more attention to customer service via the Internet. Banking institutions are increasingly beginning to develop tools that help any online store to fully satisfy all the requirements of their customers. According to experts, in the near future there will be a leap in this direction, and the demand for online express lending will increase significantly.