Lower regulatory hurdles and ease of penetration has made FinTech lending grow rapidly across the world. Using around 2.19 million reviews from users of FinTech loan applications registered in Google Play Store in India, we investigate users' experience on FinTech lending. Our text analytics-based results indicate that around 20 percent of the negative experience is associated with fraud. FinTech lending firms that emerged during the COVID crisis are perceived more fraudulent compared to pre-COVID firms, highlighting FinTech lenders’ exploitation when borrowers are more vulnerable. The results are robust for fake reviews. Our study suggests that regulators should be wary of rapidly growing FinTech lending market.

监管障碍的降低和渗透的便利性使得金融科技贷款在全球范围内迅速增长。我们利用印度 Google Play 商店中注册的金融科技贷款申请用户的约 219 万条评论，调查了用户的金融科技贷款体验。我们基于文本分析的结果表明，大约 20% 的负面体验与欺诈有关。与新冠疫情之前的公司相比，新冠危机期间出现的金融科技贷款公司被认为更具欺诈性，这突显了金融科技贷款机构在借款人更脆弱时的剥削行为。对于虚假评论，结果是稳健的。我们的研究表明，监管机构应对快速增长的金融科技贷款市场保持警惕。