About Digital Lending Platform
Digital lending is the use of online technology to originate and renew loans so as to deliver faster and more effective decisions. Digital lending platforms are becoming popular among youths who are in urgent need of money and prefer a paper-less process for sharing documents. Moreover, Digital lending provides financial institutions a lot of opportunity to improve productivity, close more loans and increase revenue per loan with cheaper, faster and automated services. However, strict government regulations for digital lending will affect the market demand
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 18.13% |
The digital lending platform market is expected to continue its strong growth trajectory, driven by factors like increasing internet penetration, mobile banking adoption, and demand for faster and more accessible credit. As the market matures, expect further consolidation through mergers and acquisitions, along with continued focus on innovation and personalization. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Digital Lending Platform market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tavant Technologies (United States), Ellie Mae (United States), Fiserv (United States), RupeePower (India), Newgen Software (India), Finastra (Unitd Kingdom), Nucleus Software Exports (Nucleus Software) (India), Finantix S.p.A (Finantix) (Italy), Symitar Systems Inc (Symitar) (United States) and Temenos Group (Temenos) (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Built Technologies (United States), TurnKey Lender (Singapore), FIS Global (FIS) (United States), Pegasystems (United States) and Sageworks (United States).
Segmentation Overview
AMA Research has segmented the market of Global Digital Lending Platform market by , Application (Banking, Financial Services, Insurance, Credit Unions, Retail Banking and P2P lenders) and Region.
On the basis of application, P2P lenders segment is dominating the market in the year 2023 where as Financial Services segment stood as second largest market .On the basis of geography, the market of Digital Lending Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Services, the sub-segment i.e. Design and Implementation will boost the Digital Lending Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solutions, the sub-segment i.e. Loan Origination will boost the Digital Lending Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud will boost the Digital Lending Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High explosion of smartphones and growth in digitalization
Market Growth Drivers:
Rising adoption of advanced technologies such as AI, cloud, and blockchain-based digital lending platforms and Need for better consumer experience
Challenges:
Lack of digital literacy in developing countries
Restraints:
Higher dependence on traditional lending methods and Concerns about Cybersecurity among organizations
Opportunities:
Increasing demand of advanced digital lending solutions for Retail Banking
Market Leaders and their expansionary development strategies
In December 2023, Stripe partners with Affirm, a BNPL provider, to integrate BNPL options into its payments platform, catering to a wider range of consumer needs.
In December 2023, Kabbage, an alternative lending platform, launches a new embedded finance solution for small businesses, allowing them to offer financing options directly to their customers.
The U.S. regulatory framework for key financial services requires meaningful modifications to improve the delivery of both digital and non-digital financial services to consumers and businesses. Such changes are aimed at improving the U.S. regulatory approach in areas such as lending, payments, and financial planning
Key Target Audience
Digital lending provider, Suppliers of digital lending parts, Retail Banking, Banking sector, Financial services, Insurance Companies and Governmental bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.