The global Peer-To-Peer Lending Market was accounted for US$ 125.3Billion in terms of value in 2020 and is expected to grow at CAGR of 48.4% for the period 2020-2027.
Financial Conduct Authority, the U.K. regulatory body, has developed and implemented regulations specific to peer-to-peer lending industry, which address the risks and other typical attributes of this industry. Moreover, the French Government has been strongly supporting peer-to-peer lending industry. In fact, it has developed a dedicated website for the industry, which has listed names of prominent peer-to-peer lending projects.
Key Players in the P2P market are OnDeck Capita, Inc., Zopa Limited, Kabbage, Inc., Funding circle Limited, Social Finance Inc., Prosper Marketplace Inc., Ratesetter and Avant.
Peer-to-Peer lending is an option worth exploring. P2P lending works differently from the financing you may have received in the past. You are not borrowing from a financial institution but rather from an individual or group of individuals who are willing to loan money to qualified applicants. P2P lending websites connect borrowers directly to investors as these lenders are called. Each website sets the rates and the terms (sometimes with investor input) and enables the transaction.
OnDeck, a leader, Sept 2020 announced collaboration with Visa to support businesses through Visa’s Small Business Hub. OnDeck joins a small group of lenders to offer financing opportunities through the Hub. The Visa Small Business Hub is designed to give small businesses the tools and resources they need to build stronger, more digitally enabled businesses, which is needed more than ever with the impact of COVID-19. In joining this effort, OnDeck will offer a dedicated resource page on the Hub to help small businesses understand how OnDeck is able to support and power their growth and success. OnDeck’s proprietary lending technology enables the company to make lending decisions in hours, not weeks. With OnDeck’s speed in decisioning, enhanced further by Visa Direct, Visa’s real-time push payments platform, OnDeck can quickly fund completed loans and provide small businesses with the access to financing they need, when they need it.
Kabbage joins the American Express. There resolve will remain entirely focused on solving the plight of the small tasks related their lives easier and their businesses stronger by handling the tough tasks related to financial services in an automated and simple way. With American Express, their ability to reach more small business with increasingly impactful affected their economy by covid-19 and they are key to their economic renewal. They will continue to lead the change for their revival and growth.
Segmentation of Peer to peer lending market has covered By Type includes Consumer Lending and Business Lending. By End-User, it includes Consumer Credit Loans, Small Business Loans, Student Loans and Real Estate Loans. Geographically it includes ASPAC, North America, Europe and Row. Among these North America region dominated the global Peer-to-Peer Lending Market in 2019, accounting for 42.6% share in terms of value, followed by Asia Pacific, Europe, Latin America and Middle East and Africa. The marketplace in emerging economies in Asia Pacific such as China and India operates in both online and offline mode. The recent past has witnessed emergence of online peer-to-peer lending platforms.
The global Prepaid Card Market size was valued at $1,848.56 billion in 2020, and is projected to reach $5,516.95 billion by 2027, growing at a CAGR of 15.7% from 2020 to 2027.
The global prepaid card market is booming, owing to increasing influence towards plastic money, proliferating E-commerce sector, higher adoption of AI & IoT technologies, growing demand for cash alternatives, increasing trend to go-cashless and growing number of unbanked and underbanked population, especially in underdeveloped and developing countries.
Market Players leading in market which are includes Visa, MasterCard, UnionPay, American Express, JCB, Discover, Walmart, Bank Of America, Apple Inc., Wells Fargo, PayPal, West union and Kaiku.
Razer Fintech and Visa have introduced the new Razer Card prepaid card, Oct 2020 which is now in its experimental phase. Cardholders will receive a host of benefits such as unlimited cashback for eCommerce and face-to-face purchases. In addition, the Razer Card will showcase contactless payment technology that enables cardholders to tap to pay.
SafetyPay has teamed with Rappi for cash solutions and immediate reconciliation. SafetyPay’s infrastructure allows those who don't have credit cards and consumers who are concerned about fraud to take part in the digital marketplace via bank transfer or cash. Currently, SafetyPay collaborates with 380 financial institutions in 17 countries worldwide.
MoneyGram International has extended its relationship with Walmart Inc. through March 2024. As a result, MoneyGram’s offerings will continue to be available at over 4,700 Walmart locations in the United States, Puerto Rico and online at walmart.moneygram.com. MoneyGram Chairman and CEO Alex Holmes said in a statement that the "longer-term extension is a testament to our strong alignment on customer-centric strategies as well as continued preference for the MoneyGram brand at the point of sale."
The Abu Dhabi Investment Authority (ADIA) is investing approximately $750 million in Reliance Industries subsidiary Reliance Retail Ventures Ltd. The investment provides the sovereign wealth fund with a 1.2 percent share of Reliance Retail. Other investors that have acquired sizable shares of Reliance Retail in the last month include KKR, Silver Lake, Mubadala, General Atlantic, TPG and GIC.
10 Oct 2020, during SIBOS 2020, Wells Fargo announced the launch of Payment Tracker, a new, single st atus, secure, web-based solution for tracking global payments. Payment Tracker is a free tool that leverages Wells Fargo’s leading role and membership in the SWIFT gpi initiative. It allows customers to, Reduce the time spent resolving payment issues with an easy and global way to monitor and track cross-border payments through Wells Fargo in near real-time status. Track the status of international wires in more than 20 currencies, up to the final beneficiary. Monitor the date, currency, and amount credited to the beneficiary and gpi payment duration. This is the new foundation for transparency in global payments.
Aug 2020- UnionPay launched its digital bankcard together with commercial banks, major mobile phone manufacturers, and key merchants and payment institutions. The process of card application and collection is completely digitalized, providing cardholders with a new generation of payment experience. The digital debit and credit card launched this time within and outside Mainland China feature four characteristics. Firstly, they digitalize traditional bankcards. Services are delivered digitally to satisfy multiple payment demands such as purchases, cash deposits and withdrawals, bank transfers, mobile QuickPass payments, and QR code payments. Secondly, card application and payments are made swift and easy. Users around the world can apply for cards, link them, and use them through various platforms, including the UnionPay App, bank apps, and e-wallets developed by mobile phone manufacturers.
Market Segmentation by card type contains Single-purpose Prepaid Card and Multi-purpose Prepaid Card. Segmentation by usages is General-Purpose Reloadable Card, Gift Card, Government Benefits/Disbursement Card and Incentive/Payroll Card. By region it has been segmented into North America, Europe, Asia-pacific and Row. North America contributed the highest share in 2019, and will maintain its dominance throughout the forecast period. The adoption of prepaid cards will be helpful in coronavirus pandemic as it makes payment without physical contact in most of the cases.
The Curtain Wall Market size was valued at USD 48 billion in 2020 and is expected to witness 9.3% CAGR during the forecast period.
Major players in the curtain wall market consist of Permasteelisa, SchA¼co, Josef Gartner, Stahlbau Pichler, Mapier Group, Batimet, Aluprof, Pacific Aluminum, Wisniowski, FEAL Croatia, Kurtoglu Bakir Kursun San. A.S., Hueck, Metra, Stabalux, JET ALU Maroc, Raico, SOTA Glazing and ETEM.
The Permasteelisa group, award leader in the ‘curtain wall industry’, has completed the architectural envelope of the new one Vanderbilt, the iconic tower inaugurated on Sept 2020.In New York. The Group has designed, engineered and produced 8,743 curtain wall panels, with 1,060 different configurations for a total of around 773,500 sq. ft of curtain wall. This includes 660 corner panels that were all different from each other as the tower is tapering from the bottom to the trip, resulting in several unique panels.
This year 2020, Amsterdam’s fastest-growing district gained a new landmark. The Hourglass marks the center of the Zuidas area, which is steadily filling with modern offices, restaurants, elegant hotels, residential and other premium-class buildings. ALUPROF S.A., one of Europe’s leading suppliers of aluminum systems, has played a part in the development of the district, providing its solutions to the development.
With so many changes coming so fast, it can be hard to grasp the sheer scale of what is happening in the glass and glazing industry. And yet, if you want to keep up with opportunities throughout the year, you have to stay informed. Here are seven major trends we are seeing for 2020 and beyond.
1. Re-evaluating the supply chain to mitigate risks
If there’s one thing the recent coronavirus (COVID-19) outbreak has made us realize, it’s that we take a lot of things for granted. You get it because you can’t afford the damages or losses. Similarly, you have to protect yourself against possible supply interruptions, whether the threat comes from a global pandemic, an act of God or a trade war. Start by understanding your exposure. Then develop a strategy to protect your business. For some businesses, this means diversifying their pool of suppliers. For others, it means educating procurement about alternatives or developing a new area of expertise.
2. High-performance buildings require high-performance glazing
The rapid move toward high-performance buildings will continue to drive demand for energy-efficient panels, which also require more technically advanced glazing systems. While triple-skin facades undoubtedly cost more than double-skin facades, the difference may become negligible when you factor in energy savings over the building’s lifespan. You also need to take into account significant gains in durability, acoustics and ventilation, and occupants’ overall comfort.
The global curtain wall market has been segmented based on construction type, system, region and application and region. Based on construction type, the global market has been segmented into new construction and refurbishment. The new construction segment accounted for the largest market share in the global market owing to its preferred modern architecture. Based on the system, the global market has been segmented into unitized, stick-built, and semi-unitized. Based on application, the global market is divided into residential and commercial. Based on region, the global curtain walls market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific accounted for the largest market share due to its increasing investments and booming industrial sectors.
The global Health Insurance Market size is projected to reach USD 86495 Million by 2026, from USD 22238 million in 2020, at a CAGR of 25.6% during 2021-2026.
The Major Players in the market include, Anthem, UnitedHealth Group, DKV, BUPA, Kaiser Permanente, Aetna Inc., PICC, PingAn, Kunlun
The Insurance Regulatory and Development Authority of India (IRDAI) issued three new guidelines in June 2020 to insurers offering health insurance products. These guidelines require insurance companies to make three changes in their policies and functioning to make health insurance more consumer-friendly. The changes are:
Changes in 2020-
Anthem Blue Cross (Anthem) is introducing a new health plan for 2021 option designed specifically to meet the evolving healthcare needs of Bay Area businesses and their employees. Anthem’s Blue Connection is an affordable network designed to improve health outcomes, deliver a better member experience and help lower healthcare costs. “Blue Connection provides members with a more engaging way to access the healthcare delivery system that is both simple and affordable. They’re committed to improving lives and communities by providing access to affordable healthcare, and they are excited to tailor this to the specific needs of businesses and consumers in the greater San Francisco Bay Area.
UnitedHealth Group announced commitments in June 2020 to support Mr. Floyd’s family, help Minneapolis-St. Paul businesses rebuild and fund efforts to advance equity and inclusivity in the Twin Cities community. As part of those ongoing efforts, UnitedHealth Group has announced grant partnerships with five local nonprofit organizations like Lake Street Council, Minnesota Community Care, Neighbors United Funding Collaborative, West Broadway Business & Area Coalition/Northside Funders, and Heart of America.
Based on type, the health insurance market is segmented into products and solutions. Based on application it has been Personal and Enterprise. By region it includes North America, Europe, Asia-Pacific and Middle East & Africa. Among these Asia-Pacific is expected to grow at the highest rate during the forecast period in the health insurance market. This has done due to the availability of expensive health facilities and increase in demand for health insurance policies in high populous countries such as India and China. The availability of low- and middle-class economy.
The global ATM Managed Services Market size was valued at $6.6 billion in 2020 and is projected to reach $10.6 billion by 2027, growing at a CAGR of 6.9% from 2020 to 2027.
The ATM replenishment & currency management segment dominated the ATM managed services industry in 2020 and is projected to maintain its dominance during the forecast period. As the requirement of these services by banks and financial institutions largely takes place for their installed ATM machines and is expected to rise in the upcoming years. Furthermore, rise in advanced ATM monitoring tools, live track on cash status, and direct access to accountability for currency management, are some of the factors driving the growth of ATM replenishment & currency management segment during the forecast period.
The Key Market players declared in the ATM Managed Service Market report include AGS Transact Technologies Ltd., Euronet Worldwide, Inc., Financial Software & Systems Pvt. Ltd., Fiserv, Inc., FUJITSU, Hitachi Payment Services Pvt. Ltd., and NHAUSA.
June 8, 2020-AGS Transact Technologies Limited (AGSTTL), one of India’s leading providers of end-to-end cash and digital payment solutions & automation technology has successfully developed & tested ‘Touchless’ ATM solution in light of COVID-19. ATM cardholders can now withdraw cash from an ATM by scanning a QR code on the machine’s screen without having to touch the surface. AGSTTL is currently providing demo of this solution to the interested banks. This contactless solution by AGSTTL enables a bank customer to perform all the steps required to withdraw cash from an ATM using the mobile application itself. The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank’s mobile application. This includes entering the amount and mPIN required to dispense the cash from the ATM machine. The QR code feature makes cash withdrawals quicker & more secure, and negates the chances of compromising the ATM Pin or card skimming.
Euronet USA, LLC, a division of Euronet Worldwide, recently launched its REN Foundation solution for Banco de Moçambique. Delivered through Sociedade Interbancária de Moçambique (SIMO), the REN™ Foundation modernizes Mozambique's national payment network and will help SIMO offer innovative payment solutions to member banks and their customers. Rob Brakensiek, Vice President of Implementations and Project Services at Euronet Software Solutions, said about the launch, The pandemic certainly presented unique challenges to our delivery timeline, primarily in the lost opportunity to be onsite. However, as a global company with decades of implementation of software solutions, Euronet was well prepared to manage this critical project remotely and met our original objectives of going live in 2020.
July 20, 2020: CR2 was named as a Top Performer in The Global Edition of Celent’s Report – The Modern Digital Banking Channels Platform. CR2’s surveyed customers scored CR2 highest in implementation and post implementation, with no other vendor scoring better. This success factor is critical in today’s COVID environment, where a swift and seamless implementation of a digital project is crucial. Other positives reported by our customers include ease of use, flexibility and robustness, out-of-the box functionality, great UI, ease of integration and quick customization.
One Articles showed that ATMs will become the banks of the future as more branches close, said Bill Versen, chief product officer at Transaction Network Services, in the report. He believes ATMs will adopt biometric identifiers like fingerprint and facial recognition to enable cardless usage. They'll also include "services as diverse as applying for loans, buying lottery tickets and dispensing foreign currency," he said. The key driver of ATM industry changes is global saturation, said Daryl Cornell, CEO at Triton Systems, a maker of ATMs. "The ATM ecosystem is no different than any other cyclical industry, where participants ride the growth wave profitably for years or decades before the inevitable peak and subsequent decline."
Segmentation of ATM Managed Services Market by ATM Type, Conventional ATM, White Label ATM, Black Label ATM, Cash Dispenser and Smart ATM. By Service, Electronic Journal & Content Management System, ATM Service & Repair, First Line ATM Maintenance, Second Line ATM Maintenance, ATM Deposit Automation and others. By region it has North America, Europe, ASPAC and RoW. Based on region, Asia-Pacific contributed the highest share, accounting for more than two-fifths of the total market share in 2020 and will maintain its dominance throughout the forecast period.
The global Crop Insurance Market generated $34.05 billion in 2020, and is estimated to generate $54.30 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027.
Crop insurance is purchased by agricultural producers, and subsidized by the federal government, to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities. The two general categories of crop insurance are called crop-yield insurance and crop-revenue insurance. On average, the federal government subsidizes 64 percent of the premium. In 2020, crop insurance policies covered almost 380 million acres. Major crops are insurable in most counties where they are grown, and approximately 90% of U.S. crop acreage is insured under the federal crop insurance program. Four crops corn, cotton, soybeans, and wheat typically account for more than 70% of total enrolled acres. For these major crops, a large share of plantings is covered by crop insurance.
Major Competitors in the crop insurance market includes China United Insurance, American Financial Group, Archer Daniels Midland, China Huanog Property & Casualty Insurance, CGB Diversified Services, Anxin Agricultural Insurance.
In India 2020- The lockdown has slowed down claim settlements of crop insurance scheme, with only 64% of losses in last year’s kharif season cleared so far, as many states have made tardy progress, officials said. “Claim settlement progress has been impressive in Himachal Pradesh, Uttar Pradesh and Maharashtra, where almost all the claims have been settled. But in states like Jharkhand, Karnataka and Madhya Pradesh, there is zero disbursement,” a government official said.
Private non-life insurer Bharti AXA General Insurance on Oct 2020 said it has received Rs 800 crore worth crop insurance mandate from Maharashtra and Karnataka governments to insure farmers in both the states under the Pradhan Mantri Fasal Bima Yojana (PMFBY).
The PMFBY offers insurance cover to farmers against losses of crops during the entire cycle, from preparation of sowing to harvesting and post-harvest, due to poor yield.
Oct. 26, 2020-- American Financial Group, Inc. announced on that it has entered into a reinsurance agreement with Commonwealth Annuity and Life Insurance Company (“Commonwealth”), a subsidiary of Global Atlantic Financial Group Limited (“Global Atlantic”). Through its subsidiaries, Global Atlantic offers a broad range of retirement, life and reinsurance products, and is rated “A” by A.M. Best. Under the terms of the agreement, AFG’s Annuity subsidiary, Great American Life Insurance Company, ceded approximately $5.7 billion of inforce traditional fixed and indexed annuities, representing approximately 15% of its inforce business, and transferred related investment assets to Commonwealth.
Marfrig and ADM -10 Oct 2020 announced the completion of regulatory approvals and the formal launch of PlantPlus Foods, a joint venture that will offer a wide range of finished plant-based food products across North and South America, backed by unmatched technology, scale and experience. Marfrig, one of the world’s leading beef producers and the world’s largest beef patty producer, owns 70 percent of the venture; ADM, a leading global nutrition company, is a 30 percent owner. Marfrig will be responsible for finished product production and distribution, utilizing its facilities in South America, mainly in Várzea Grande, in the United States.
Segment by Type, the Agricultural Crop Insurance market is segmented into MPCI, Hail, etc. Segment by Application, the Agricultural Crop Insurance market is segmented into Digital and Direct Channel, Bancassurance, Agencies, Brokers, etc. based on region it has been segmented into North America, Europe, Asia-Pacific and Row. Based on region, North America accounted for the largest share of more than two-fifths of the global crop insurance market in 2019, and is expected to continue its lead status by 2027. This is due to farmers & ranchers in the U.S. striving to maintain economical crop production by acquiring crop insurance coverage. Further, Asia-Pacific is expected to witness the highest CAGR of 8.1% from 2020 to 2027, owing to rise in agricultural production activity and adoption of advanced technologies in the region.