Major digital lending platforms market participants include ARGO Data Resource Corporation, Built Technologies, Inc., CU Direct, Base-Net Informatik AG, and Decimal Technologies Pvt. Ltd.
Selbyville, Delaware,, Nov. 29, 2022 (GLOBE NEWSWIRE) —
The digital lending platform market valuation is anticipated to cross USD 59 billion by 2032, as reported in a research study by Global Market Insights Inc.
Prompt adoption of advanced technologies like blockchain and AI with positively influence the industry outlook. These technologies are helping providers of digital lending platforms to introduce innovative operating models and credit provisions for individuals and businesses. Increasing focus on the development of sophisticated data-driven AI digital lending platforms should enable faster lending processes via online channels.
Rise in loan frauds to propel the demand for risk & compliance management systems
The digital lending platform market from the risk & compliance management systems is estimated to witness around 20% gains through 2032. These systems address the growing need to limit the risks associated with loan approvals of fraudulent firms and default customers. It helps financial firms and lending service providers by protecting them against potential security threats. These systems also ensure compliance with constantly changing regulatory and legal obligations, increase efficiency and generate outstanding business outcomes.
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Digital lending platforms to benefit training & education service providers
The training & education services segment is projected to expand at more than 22.5% growth rate from 2023 to 2032. Efforts to raise awareness and train end-users to effectively deploy digital lending platform solutions will escalate training and educational service providers to improve customers’ ability to meet business objectives.
SME finance loan offer flexible repayments & minimal documentation
The SME finance loan segment held approximately 14.5% of the digital lending platform market revenue share in 2022. Advancement in digital lending platforms is helping banks, fintech firms, and NBFCs to facilitate faster loan processing, approval, and disbursal whilst reducing documentation significantly. Startups and SMEs often lack robust capital resources required to run operations, stock up inventory, or recover from losses in the infancy stage. Small business loans offer a wide variety of benefits such as easy accessibility, minimal or zero documentation, collateral-free, tax benefits, and flexible repayments.
Digitalization of credit unions with microlending platforms
The credit union application is predicted to exhibit over 20% CAGR between 2023 and 2032. Credit unions are leveraging digital lending solutions to offer loan applications that customers can submit from any device. Growing need to remove friction between borrowers and lenders and speed up the lending process is accelerating the digital transformation of credit unions.
Advent of digital banking to foster MEA market forecast
The Middle East & Africa digital lending platform market will account for 20% of the industry share by 2032. The availability of robust financial infrastructure in MEA countries is attracting various international fintech leaders and encouraging native financial institutions. Several domestic banks in the region have introduced digital banking solutions with the aim of serving modern-day banking needs.
Strategic collaborations to boost the competitive landscape
Industry participants are entering strategic collaborations and partnerships to provide innovative banking solutions. ARGO Data Resource Corporation, Built Technologies, Inc., CU Direct, Base-Net Informatik AG, and Decimal Technologies Pvt. Ltd. are some of the leading companies in the global digital lending platform market.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Digital lending platform industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total addressable market (TAM) trends, 2023 – 2032
2.3 Regional trends
2.4 Solution trends
2.5 Application trends
2.6 Component trends
2.7 Deployment trends
2.8 Business model trends
2.9 Product trends
2.10 Application trends
Chapter 3 Digital Lending Platform Industry Insights
3.2 Impact of COVID-19 outbreak
3.3 Impact analysis of Russia-Ukraine war
3.4 Digital lending platform industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Investment portfolio
3.8 Industry news
3.9 Regulatory landscape
3.10 Digital lending platform Vs traditional lending
3.11 Industry impact forces
3.11.1 Growth drivers
3.11.2 Industry pitfalls & challenges
3.12 Growth potential analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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