As per the latest report by IMARC Group, titled ”Digital Lending Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global digital lending platform market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 13% during 2021-2026. A digital lending platform (DLP) is a loan agreement application that allows easy access to financial services and products. This platform primarily relies on mobile applications and web programs for debt management. DLP offers numerous benefits, such as enhanced efficiency, swift decision making, superior loan distribution, a simple application process, etc. At present times, various organizations are launching next-generation devices and end-to-end cloud-based loan granting platforms. Advanced payment patterns are leading financial institutions to adopt DLP to deliver quick services, improve revenue, and enhance productivity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Digital Lending Platform Market Trends:
The growing adoption of DLP in the banking, financial services, and insurance (BFSI) industry and the increasing demand for online banking services are driving the digital lending platform market. Moreover, due to the outbreak of COVID-19 pandemic, digital channels are being increasingly adopted by financial institutions to lend loans and resolve numerous challenges. Additionally, there is an escalating emphasis on digital automation and a rise in the utilization of various technologies, such as machine learning, data analytics, blockchain, artificial intelligence, etc., to avoid frauds. Besides this, DLP offers e-signing, easy accessibility, and minimum paperwork, which is catering to the growing internet penetration and elevating dependence on smartphones. This, in turn, is projected to catalyze the global market for digital lending platform in the coming years.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Black Knight Inc.
- Fiserv Inc.
- Intellect Design Arena Ltd
- Intercontinental Exchange Inc.
- Nucleus Software Exports Ltd.
- Pegasystems Inc.
- Roostify Inc.
- Tavant Technologies and Wipro Limited
Breakup by Type:
- Loan Origination
- Decision Automation
- Collections and Recovery
- Risk and Compliance Management
Breakup by Component:
Breakup by Deployment Model:
Breakup by Industry Vertical:
- Insurance Companies
- Credit Unions
- Savings and Loan Associations
- Peer-to-Peer Lending
Breakup by Region:
- Middle East and Africa
- North America
- Latin America
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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