Online lending market shrinks in Switzerland

Credit granted in Switzerland via online platforms declined by 11% to CHF18.6 billion in 2023, according to an academic study. + Get the most important news from Switzerland in your inbox The latest figures bucks the mid-term trend of volumes for this type of credit increasing 240% over the past five years, points out a study published by the Lucerne University of Applied Sciences and Arts (HSLU) and the Swiss Marketplace Lending Association (SMLA) released. At CHF13.2 billion, online loans and credits to large companies, SMEs and public-sector entities accounted for around 70% of total volume last year. However, this volume fell by 7%. Online loans have also become an important financing pillar for public-sector entities, with an estimated market share of around 15%, the report shows. 20% fewer mortgages The online mortgage brokerage business fell by 19%. This was primarily due to a change in the interest rate environment and strategic adaptations by certain platforms, it says.