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In 2018, the global alternative finance industry facilitated $305 billion in transaction volume, a 27% annual decline from 2017. However, this drop stems primarily from a sharp decline in activities in China. Excluding the Chinese market, the global alternative finance market volume actually grew by 48% year-on-year to $89 billion.

The British Business Bank approved four new lenders to partake in the Coronavirus Business Interruption Loan Scheme, including several fintech lenders.

The Australian government's SME Guarantee Scheme welcomed fintech firms Moula and Prospa participants in the Scheme. Under the Scheme, the government will guarantee 50% of new loans issued by Prospa and Moula to SMEs.

The 2nd Global AltFin Market Benchmarking Report shows that total global volume has notably decreased, falling 42% in 2019 and a further 35% in 2020 - from $304.5 billion in 2018 to $176 billion in 2019 and $114 billion in 2020. When Chinese volumes are excluded, the total volume grew 27% from 2018 to 2020 to $113 billion. China dominated the global online alternative finance market up until 2018, but local market developments and regulatory changes have led to a considerable decline in volumes and its global market share. In 2019, the Chinese market accounted for 48% of the global volume, and in 2020 for only 1%. The US and Canada is now the largest regional #AltFin market ($73.93 billion) followed by UK ($12.64 billion) and APAC (ex China) ($8.9 billion).