The report, titled Cultivating Growth: The 2nd Asia Pacific Alternative Finance Industry Report, reveals the total market size of Australia’s alternative financial markets grew more than 50 per cent in 2016, jumping from US$397.61 million in 2015 to US$609.60 million. Alternative financial services provide business models and loan options outside of traditional banking institutions, such as peer-to-peer consumer lending, balance sheet business lending, invoice trading and crowd-funding.
Research in the report, jointly conducted by KPMG, Cambridge Centre for Alternative Finance, the Australian Centre for Financial Studies and Tsinghua University Graduate School, surveyed over 600 online alternative finance companies within the Asia-Pacific region and found China continued to dominate the alternative financial market, accounting for 99.2 per cent of total market volume in APAC and 85 per cent of the total global market.
Read the full article [investordaily.com.au]
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