Consumer Credit Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to consumer credit market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Consumer Credit Market News

in Consumer Credit Market
  • In April 2025, HSBC made a move into private credit in April 2025 as part of its overall bigger strategic realignment following a restructuring program. The lender is in negotiations with private credit firms to make alliances via its insurance and asset management business units. It intends to have access to the rapidly expanding USD 3 trillion private credit sector with minimal capital exposure.
  • In July 2024, The Reserve Bank of India signaled steep moderation in retail credit expansion in July 2024 as personal loan expansion fell to 8.1% from 22.6% a year earlier. Fresh regulatory tightening including higher risk weightages on unsecured loans and high growth base led to clipping into NBFCs and fintech lenders strongly.
  • In August 2024, the US consumer credit sector showed a sharp increase in delinquencies of credit card repayments with 11.12% paying just the minimum—the highest level since the Great Recession. Total outstanding debt in credit cards stood at USD 1.12 trillion. The trend was described by the Federal Reserve as one brought about by prolonged high rates and the resumption of repayment of federal student loans, weighing heavily on household finances.
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Global Consumer Credit Market size was valued at USD 12.2 Billion in 2023 and is poised to grow from USD 12.8 Billion in 2024 to USD 24.3 Billion by 2032, growing at a CAGR of 7.8% during the forecast period (2025-2032).

The Asia-Pacific consumer credit industry is competitive with traditional banks, fintech companies, and non-banking financial institutions (NBFCs) vying for market share. Also, digital financial services have penetrated over 60% of people in some of ASEAN's leading markets as of 2023, reports the Asian Development Bank (ADB). The Asia-Pacific consumer credit industry is competitive with traditional banks, fintech companies, and non-banking financial institutions (NBFCs) vying for market share. Moreover, online financial services have penetrated more than 60% of the population in some of ASEAN's top markets as of 2023, according to the Asian Development Bank (ADB) data. Most significant, however, is government support: India's Reserve Bank of India "Financial Inclusion Index" (2023) rose to 60.1, indicating improved credit availability. China's State Council approved its "14th Five-Year Plan for Financial Sector Development" with consumer finance and risk management initiatives in the spotlight. 'Visa Inc. (United States)', 'Mastercard Incorporated (United States)', 'American Express Company (United States)', 'PayPal Holdings Inc. (United States)', 'Capital One Financial Corporation (United States)', 'Discover Financial Services (United States)', 'Synchrony Financial (United States)', 'SoFi Technologies Inc. (United States)', 'Ally Financial Inc. (United States)', 'OneMain Holdings Inc. (United States)', 'Credit Acceptance Corporation (United States)', 'Upstart Holdings Inc. (United States)', 'FirstCash Inc. (United States)', 'Affirm Holdings Inc. (United States)', 'Navient Corporation (United States)', 'Hilltop Holdings Inc. (United States)', 'PNC Financial Services Group (United States)', 'Bajaj Finance Limited (India)', 'L&T Finance Holdings Ltd (India)', 'Indian Railway Finance Corporation Ltd (India)'

Government-supported programs like India's Digital Public Infrastructure and Brazil's Pix payment system are bringing credit to the masses. According to the World Bank, over 40% of adults in developing economies relied on digital payments in 2023, which facilitated credit penetration through regulated fintech channels and public-private partnerships.

Why is North America a Consumer Credit Leader?

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Global Consumer Credit Market
Consumer Credit Market

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