Global Digital Lending Platform Market By Component (Solution and Service), Deployment Model (On-Premise, Cloud), Business Model (Customer Driven, Staff Driven), Product (Personal Loan, Automotive Loan, SME Finance Loan, Mortgage Loan), Application (Banks & NBFCs, Credit Unions, Fintech Companies, P2P lenders) Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Digital Lending Platform Market
Global digital lending platform market is set to witness a healthy CAGR of 22.1% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing demand of AI and Machine Learning platform.
Market Definition: Global Digital Lending Platform Market
Digital lending is the application of online technology to create and reintroduce loans in order to provide rapid and more effective decisions. It has assisted the customers in managing loans in an automated manner. Digital lending is used to enhance the understanding of client behaviour and customer engagement through customized products. The process uses digital technology in order to originate and renew loans as faster rate. This has wide applications among the BFSI, retail banking and P2P end-users.
- High proliferation of smartphones along with the growth in digitalization will drive the market growth in the forecast period
- Rise in government initiatives for online lending will also uplift the market growth
- Rising need for better customer experience is another factor driving the growth of this market
- High rate of adoption of digitization; this factor is expected to drive the growth of the market
- Security concerns is also restricting the overall growth of these market
- Data safety & security issues also acts as a restricting factor for this market growth
- Lack of digital literacy in developing countries will also hamper the market growth
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Segmentation: Global Digital Lending Platform Market
- Loan Origination System (LOS)
- Loan Management System
- Risk & Compliance Management System
- Point of Sale (PoS) Systems
- Lending Analytics
- Collection & Recovery System
- Support & Maintenance
- Design & Implementation
- Training & Education
- Risk Assessment
By Deployment Model
By Business Model
- Customer Driven
- Staff Driven
- Personal Loan
- Automotive Loan
- SME Finance Loan
- Mortgage Loan
- Banks & NBFCs
- Credit Unions
- Fintech Companies
- P2P lenders
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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Key Developments in the Market:
- In October 2018, Fiserv Inc., announced partnership with DadeSystems for offering SaaS-based or standalone banking solution to financial institutions. This partnership will help to reduces total accounts receivable costs and increase accuracy. This will assist in enhanced and improvised payment processing speeds, increased operational efficiency which will broaden the market scope
- In February 2018, Newgen Software Technologies Limited with the help of Customer Communication Management (CCM) and Enterprise Content Management (ECM) platforms increases its commercial loan origination solution capacity used for large and mid-sized banks. This latest solution offers exclusive Configurable Unified Platform (CUP), which automates the complete lending cycle, regulation as well as Business Intelligence (BI).
Global digital lending platform is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of digital lending platform market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global digital lending platform market are Tavant, Docutech LLC, Mambu, CU Direct, Abrigo, Roostify, Decimal Technologies Pvt. Ltd., , Finastra, Built Technologies, Inc., Jack Henry & Associates, Inc., Turnkey Lender, Fiserv, Inc., Newgen Software Technologies Limited, Ellie Mae, Inc., Nucleus Software Exports Ltd, FIS, Pegasystems Inc., Temenos, Intellect Design Arena Ltd, Sigma Infosolutions among others.
Research Methodology: Global Digital Lending Platform Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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