Digital Lending Platform Market Size to Reach USD 20.31 Billion by 2027 at CAGR 16.7%

Andreas Milano

BANGALORE, India, March 18, 2021 /PRNewswire/ — The Digital Lending Platform Market is Segmented By Component (Software and Service), Deployment Model (On-Premise and Cloud), Type (Decision Automation, Collections & Recovery, Loan Processing, Risk & Compliance Management, and Others), and Industry Vertical (Banks, Insurance Companies, Credit Unions, Savings & Loan Associations, […]

BANGALORE, India, March 18, 2021 /PRNewswire/ — The Digital Lending Platform Market is Segmented By Component (Software and Service), Deployment Model (On-Premise and Cloud), Type (Decision Automation, Collections & Recovery, Loan Processing, Risk & Compliance Management, and Others), and Industry Vertical (Banks, Insurance Companies, Credit Unions, Savings & Loan Associations, Peer-to-Peer Lending, and Others). The report covers global opportunity analysis and industry forecast from 2021 to 2027. It is published on Valuates Reports in the Banking & Finance category.

The global digital lending platform market size was valued at USD 5.58 Billion in 2019 and is projected to reach USD 20.31 Billion by 2027, growing at a CAGR of 16.7% from 2020 to 2027. 

Major factors driving the growth of digital lending platform market size are:

  • Increase in digitization initiatives among financial organizations and rise in government initiatives for digital lending in developing countries, such as India and China.
  • Technological advancements, such as AI integration in digital lending platforms and the rise in penetration of cloud-based platforms.

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TRENDS INFLUENCING THE GROWTH OF DIGITAL LENDING PLATFORM MARKET SIZE

An increase in focus of organizations on digitization of their financial services is expected to drive the growth of digital lending platform market size. In the lending landscape, digitization has aided organizations and their customers in making better loan management decisions as well as a faster application and disbursement process. As a result, the growth of the digital lending platform market is fueled by organizations’ increased emphasis on digitizing their financial services in order to improve business performance and outcomes.

Furthermore, the digitization of lending has assisted companies and their clients in making better loan management decisions and a quicker application and disbursement process in the lending landscape. The adoption of digital lending platforms among financial institutions also reduces operating costs through seamless operations across all lenders and borrowers’ interactions. Such advantages are expected to fuel the growth of the digital lending market size.

The introduction of advanced technologies such as biometric-enabled authentication, e-mandates, e-signatures, AI, ML, blockchain, and advanced analytics to mitigate fraud and NPAs(Non-Performing Assets) risk is expected to propel the digital lending platform market size.

Other major factors that are increasing the growth of digital lending platform market size are growing internet penetration and the proliferation of smartphones.

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DIGITAL LENDING PLATFORM MARKET SHARE ANALYSIS

By type, due to the need to automate the entire loan process, which includes loan collection, processing, and assessment, the loan origination segment is expected to gain a significant share during the forecast period. However, due to an increase in investment in the risk and compliance management segment by various FinTech firms to reduce different types of risk, it is expected to expand at the fastest pace during the forecast period.

By component, the software segment will dominate the market throughout the forecast period. This is attributed to financial institutions’ increasing use of software solutions to deliver their services across digital channels.

North America dominated the digital lending platform market in 2019 and is predicted to continue to do so during the forecast period. This is due to an increase in the number of personal-focused, SME-focused, and student-focused lenders in the area, as well as major players investing heavily in business growth.

However, the Asia-Pacific region would exhibit the highest CAGR of 18.0% during 2020 – 2027. This rapid growth in the region is attributed to the rise in government initiatives for digital lending platforms and the surge in the adoption of advanced technology such as AI & ML by banks and FinTech firms in loan processing.

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DIGITAL LENDING PLATFORM MARKET KEY SEGMENTS

Valuates Reports has segmented the global digital lending platform market on the basis of component, classification type, application, vertical, and region( North America, Asia Pacific, Europe, Middle East, etc).

By Component

By Deployment Model

By Type

  • Loan Origination
  • Decision Automation
  • Collections and Recovery
  • Risk and Compliance Management
  • Others

By Industry Vertical

  • Banks
  • Insurance Companies
  • Credit Unions
  • Savings & Loan Associations
  • Peer-to-Peer Lending
  • Others

Key Market Players

  • Black Knight
  • Ellie MAE
  • Finastra
  • FIS Global
  • Fiserv
  • Intellect Design Arena
  • Nucleus Software
  • Tavant Technologies
  • Temenos
  • Wipro

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SIMILAR REPORTS :

–  The global Digital Insurance Platform market size is projected to reach USD 133480 Million by 2026, from USD 78610 Million in 2019, at a CAGR of 7.8% during 2021-2026.

–  Peer to Peer Lending Market market size was valued at USD 67.93 Billion in 2019, and is projected to reach USD 558.91 Billion by 2027, growing at a CAGR of 29.7% from 2020 to 2027.

–  The Asia-Pacific Digital Remittance Market size was valued at USD 49.85 Billion in 2018 and is estimated to reach USD 269.78 Billion by 2026, registering a CAGR of 23.5% from 2019 to 2026. The Report contains segmentation by Remittance Type (Inward Digital Remittance, Outward Digital Remittance), Remittance Channel (Banks, Money Transfer Operators (MTOs), and Others), and End User (Business and Personal)

–  The Global Digital Remittance Market size is expected to grow from USD 2,345.32 Million in 2019 to USD 9,102.30 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 25.35%.

–  Online Lending Market segmented by Type (Cloud-Based, On-Premise), by Application (Individuals, Businesses) and Regional Opportunity Analysis and Industry Forecast 2026.

–  The Global Payments market segmentation by Type Credit Transfer, Direct Debit, Check Payment, Cash Deposit), by Application (Banks, Non-Banking Financial Institutions, Others), and End User (Business and Personal), and by various regions.

–  The Global AI in Fintech Market size is expected to grow from USD 2.68368 Billion in 2018 to USD 16.96355 Billion by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 30.13% during the forecast period.

–  Alternative Lending Market – Alternative lending may offer a possible mix of attractive yields and short duration that contrasts strongly with the conventional fixed income universe. The relatively short duration of alternative lending will decrease sensitivity to changes in benchmark interest rates. This feature is, in turn, expected to increase the growth of alternative lending market size.

–  Remittance Market By Type (Inward Remittance and Outward Remittance), Channel (Banks, Money Transfer Operators, and Others), Application (Consumption, Savings, and Investments), and End User (Business and Personal). The global remittance market size was valued at USD 682.60 Billion in 2018 and is projected to reach USD 930.44 Billion by 2026, growing at a CAGR of 3.9% from 2019 to 2026

–  The Digital Banking Platforms (DBP) Market segmentation by Type (On-premises, Cloud), by Application (Banks, Non-Banking Financial Institutions, Others) Key Players and Regional

–  The Wealth Management Platform Market segmentation by Type (On-premises, Cloud), by Application (Banks, Trading & Exchange Firms, Investment Firms, Brokerage Firms, Asset Management Firms, Others) Key Players and Regional

–  The Digital Process Automation Market segmentation by Type (Solution, Services), by Application (Manufacturing, Retail & Consumer Goods, BFSI, Telecom & IT, Transport & Logistics, Energy & Utility, Media & Entertainment, Healthcare, Others) Key Players and Regional

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