Digital Lending Platform Market Latest Developments & Future Trends

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.

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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.

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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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