The global digital lending platform market size is expected
to reach USD 15.3 billion by 2026, registering a CAGR of 20.7% from 2019 to
2026, according to a new report by Grand View Research, Inc. Digitization has
been the most widely adopted strategy in financial institutions to improve
their core processing competencies and to offer enhanced consumer services and
insights. Digitization in financing services is helping the financial
institutions and their customers in rapid application and disbursement process
as well as in making better loan management decisions. The increasing focus of
financial institutions on digitalizing their services to achieve business
efficiency and better outcomes is further anticipated to contribute to the
market growth.
Increasing government initiatives to
promote the digital platform among businesses is expected to drive the market
over the forecast period. For instance, in November 2018, the Government of
India launched a digital lending platform for Micro, Small, and Medium
Enterprises (MSMEs) in India. The platform allows MSMEs to apply for a loan up
to USD 10 million within 59 minutes. Furthermore, the regulators in economies,
such as the U.S., Singapore, U.K., Hong Kong, and Australia, have created
sandboxes to support innovations in the financial sector. Such measures taken
by regulators across the globe have boosted the market growth.
The emergence of innovative
technologies such as blockchain, Machine Learning (ML), Artificial Intelligence
(AI), and robotic process automation is helping financial institutions to
enhance the security of customer data and make the paperless loan processing
transparent. The innovations in digital lending have revolutionized businesses
in the financial sector and helped end-use industries such as banks, credit
unions, and insurance companies to streamline their processes and improve the
quality of their services. For instance, AI-enabled digital lending platform
possess capabilities to minimize loan processing time as well as operating
costs. These factors are further expected to drive the digital lending platform
market over the forecast period.
Browse full research report on Digital Lending Platform Market: https://www.grandviewresearch.com/industry-analysis/digital-lending-platform-market
Further key findings from the report suggest:
- The lending analytics segment is anticipated to exhibit the
highest CAGR of 21.8% from 2019 to 2026. The increasing adoption of IoT,
Artificial Intelligence (AI), and machine learning is expected to drive
growth within the segment
- The risk assessment segment is anticipated to grow at the
highest CAGR of 23.1% from 2019 to 2026. Increasing demand to proactively
respond to various cyber-attacks and the necessity to bring back the
financial processes to a normal state is driving demand for the risk
assessment segment
- The cloud segment is expected to register highest growth rate
over the forecast period, as it minimizes up-front costs among new
entrants in the industry
- Peer-to-peer segment is expected to emerge as the
fastest-growing end use segment over the next seven years owing to
increasing digitally savvy consumer base coupled with high adoption of
paperless financing services for retail propositions
- North American regional market held the largest share in 2018
due to the presence of large number of technology providers and robust
infrastructure for digital lending platform
- The key players operating in the digital lending platform
market include Ellie Mae, Inc.; Fiserv, Inc.; FIS; Roostify; Nucleus
Software; Sigma Infosolutions; Tavant; Wizni, Inc.; Newgen Software; and
Pegasystems Inc.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/digital-lending-platform-market/request/rs1
Grand View Research has segmented the global digital lending
platform market based on solution, service, deployment, end use, and region:
Digital Lending Platform Solution Outlook (Revenue, USD Million,
2015 - 2026)
- Business
Process Management
- Lending
Analytics
- Loan
Management
- Loan
Origination
- Risk
& Compliance Management
- Others
Digital Lending Platform Service Outlook (Revenue, USD Million,
2015 - 2026)
- Design
& Implementation
- Training
& Education
- Risk
Assessment
- Consulting
- Support
& Maintenance
Digital Lending Platform Deployment Outlook (Revenue, USD Million,
2015 - 2026)
- On-premise
- Cloud
Digital Lending Platform End-use Outlook (Revenue, USD Million,
2015 - 2026)
- Banks
- Insurance
Companies
- Credit
Unions
- Savings
& Loan Associations
- Peer-to-Peer
Lending
- Others
Digital Lending Platform Regional Outlook (Revenue, USD Million,
2015 - 2026)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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