Altria Corpo and the Instituto de Estudios Financieros (IEF) have published in February 2023 the results of the third edition of the Fintech and Alternative Finance Business Barometer. This Barometer collects on an annual basis the opinions, personal experience and expectations of companies and corporate finance providers (bank and alternative) about credit granting policies, and in particular the knowledge and use of fintech and alternative finance by companies. A total of 138 companies, 39 alternative financiers and 14 banks responded this time to the questionnaire, which has already become a benchmark in the sector.
Among the most significant results of the Barometer is the perception that access to bank credit has been difficult in 2022 and will continue to be difficult in 2023. Only 18% of the companies surveyed had found access to credit easy or very easy. In the face of this difficulty, companies are moderately optimistic about the role of alternative financing to at least partially cover this shortage of bank credit.
In a context of high inflation and a possible economic recession, financial agents, both banks and alternative financiers, believe that they will further tighten their lending policies and are quite likely to raise interest rates on corporate financing.
The Barometer also polls knowledge and use of Fintech and alternative finance. In this regard, there is a growth in awareness of non-bank financing alternatives, with more than 75% of companies able to mention an alternative finance provider and 56% having used their services.
As in last year’s Barometer, as many as 57% of companies say they will be looking for non-bank sources of finance in 2023. For all these companies and those that are not yet aware of alternative financing or simply need expert advice on financing issues, Altria Corpo will be there to help them find the best solution for each business situation.
See the main results of the Barometer: