The global digital lending platform market reached a value of US$ 8.6 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 20.3 Billion by 2027, exhibiting a CAGR of 15.39% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Digital lending platform (DLP) is a mortgage point-of-sale (POS) tool that makes access to financial products and services fair and inclusive. It mainly relies on web platforms or mobile apps for managing loans. It provides several key benefits, such as increased efficiency, quick decision making, better loan disbursement and an easier application process. Presently, several companies are introducing next-generation, end-to-end cloud-based lending platforms. Moreover, advances in payment trends are encouraging financial institutions to adopt DLP to improve productivity, increase revenue, and deliver fast services.
Digital Lending Platform Market Trends:
Due to globalization and the rising popularity of online banking services, there is a rapid shift towards the digitalization of lending processes. This represents one of the key factors positively influencing the application of DLP in the banking, financial services, and insurance (BFSI) industry for better decisions, improved customer experience, and significant cost savings.
In addition, due to the outbreak of coronavirus disease (COVID-19), financial institutions around the world are increasingly adopting digital channels for lending loans and meeting the pandemic challenges. Apart from this, as DLP offers the benefits of e-signing and easy accessibility, the growing dependence on smartphones and the rate of internet penetration are acting as other major factors stimulating the growth of the market.
Moreover, the rising emphasis on digital automation is contributing to market growth around the world as DLP involves minimum paperwork, thereby minimizing the chances of human errors. Several companies are also integrating advanced technologies, such as blockchain, artificial intelligence (AI), machine learning, and analytics to mitigate fraud, which is strengthening the market growth. Furthermore, the growing instances of cyber threats are escalating its adoption across the globe.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Black Knight Inc., Finastra, FIS, Fiserv Inc., Intellect Design Arena Ltd, Intercontinental Exchange Inc., Nucleus Software Exports Ltd., Pegasystems Inc., Roostify Inc., Tavant Technologies and Wipro Limited.
Key Questions Answered in This Report 1. What is the expected growth rate of the global digital lending platform market during 2022-2027? 2. What are the key factors driving the global digital lending platform market? 3. What has been the impact of COVID-19 on the global digital lending platform market? 4. What is the breakup of the global digital lending platform market based on the type? 5. What is the breakup of the global digital lending platform market based on the component? 6. What is the breakup of the global digital lending platform market based on the deployment model? 7. What is the breakup of the global digital lending platform market based on the industry vertical? 8. What are the key regions in the global digital lending platform market? 9. Who are the key players/companies in the global digital lending platform market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Digital Lending Platform Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast
