Development of alternative lending channels in Russia in the context of digitalization

Introduction. The development of alternative lending channels in Russia at the present stage, taking into account traditional and new forms and methods of obtaining all types of loans, is relevant in the context of digitalization due to the diversification of models and strategies for providing credit services by various online platforms.

Goal. Determining directions for the development of alternative lending channels in Russia in the context of digitalization.

Materials and methods. To study alternative lending, the key rate of the Central Bank and Rosstat data were taken; taken into account: the interest of individuals and legal entities in ordinary bank lending, the economic and political situation in the country, the public availability of information about the conditions, advantages and disadvantages of alternative lending, and other options for investing funds.

Results and discussion. The study presents a modern citation analysis of the definitions “alternative lending”, “digital economy”, “digitalization”. The presented classification of alternative lending is supplemented with advantages and disadvantages. An assessment of the dynamics of consumer lending in Russia for the period 2021–2023, determination of the share of this type of lending in the total volume of consumer loans, an assessment of the size of the consumer lending market, as well as average market values of the cost of alternative loans allowed us to conclude that the alternative lending segment is growing, to which influenced by the expansion of the fintech segment. The greatest growth by the end of 2023 is observed in crowdfunding (crowdlending).

Conclusion. Based on the results of the study, we can conclude that currently alternative lending, also known as peer-to-peer, is a progressive event that offers other lending options. It makes it possible to receive loans and purchase banking products without the participation of credit institutions, directly carrying out transactions through other market participants.

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