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Digital Lending Platform Market to Reach US$ 12.1 Billion by 2023 | Growth Factors, Business Developments, Segmentation and Technologies
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Global Digital Lending Platform Market size is expected to grow from US$ 5.1 Billion in 2018 to US$ 12.1 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.7% during the forecast period.Major growth factors for the market include proliferation of smartphones and mobile devices and organizations’ continued focus on digitalization of financial services to enhance customer experience. Complete report on Digital Lending Platform Market spread across 169 pages, profiling 25 companies and supported with tables and figures. Access Research at https://www.reportsnreports.com/purchase.aspx?name=1769303
Top Players in the “Digital Lending Platform Market” include are
• Tavant Technologies (US)
• Ellie Mae (US)
• Fiserv (US)
• RupeePower (India)
• Newgen Software (India)
• Intellect Design Arena (India)
• Finastra (UK)
• Nucleus Software Exports (Nucleus Software; India)
• Sigma Infosolutions (US)
• Finantix S.p.A (Finantix; Italy)
• Symitar Systems Inc (Symitar; US)
• Temenos Group (Temenos; Switzerland)
• Built Technologies (US)
• TurnKey Lender (Singapore)
• Argo (US)
• FIS Global (FIS; US)
• Pegasystems (US)
• Docutech (US)
• CU Direct Corporation (CU Direct; US)
• Mambu (Germany)
• Decimal Technologies Pvt. Ltd. (Decimal Technologies; India)
• Sageworks (US)
• Roostify (US)
• Juris Technologies (Malaysia)
• HiEnd Systems (Belarus)
“Decision automation segment to grow at the highest CAGR during the forecast period”
The decision automation segment is expected to grow at the highest CAGR in the digital lending platform market during the forecast period. Decision automation is a vital solution for digital lending users, such as banks, credit unions, and P2P lenders, as it helps in automating the decision process of approving or rejecting a loan application.
“Business process management segment to account for the largest market size during the forecast period”
The business process management segment is expected to hold the largest market size during the forecast period. Business proces management solutions are important for digital lending organizations, as the solutions enhance the efficeiency of business processes by optimizing them through the use of software and services. Lending organizations and financial institutions are moving toward solutions that can manage the growing complexities arising from the complex business processes.
“North America to account for the largest market share, whereas Asia Pacific to grow at the highest CAGR”
North America is estimated to hold the largest market size and dominate the global digital lending platform marketin2018. The major growth drivers for the region include advancements in digital technologies and organizations’ increasing focus on digitalizing their financial services. Large presence of vendors offering digital lending platforms will further contribute to the market growth in North America.Asia Pacific(APAC) offers growth opportunities for the major vendors offering digital lending solutions and services,as APAC organizations are adopting digital lending solutions owing to the complexity in handling the huge client base through legacy lending systems.
The Study Objectives of this report are:
• To forecast the market size of the segments with respect to major regions, such as North America, Europe, APAC, MEA, and Latin America
• To define, segment, and project the global market size for digital lending platform market
• To define, describe, and forecast the digital lending platform market by component (solutions and services), deployment mode, vertical, and region
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the digital lending platform market
• To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
• To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global digital lending platform market.
• To analyze market opportunities for stakeholders by identifying the high-growth segments of the digital lending platform market
• To profile the key players in the digital lending platform market and comprehensively analyze their market size and core competencies
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Reason to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall digital lending platform market and the sub segments. It will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
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