Digital Lending Platform Market Projected to Gain Significant Value by 2019-2026

Rapid shift from traditional lending to digital lending, increase in government initiative toward digital lending, and surge in need of reduced loan management time among borrowers and lenders have boosted the growth of the global digital lending platform market. However, security-related issues hamper the market growth. On the contrary, continuous increase in adoption of cloud-based digital lending technologies and technological innovations in digital lending platforms are expected to create lucrative opportunities in the near future.

The market across North America held the largest share in 2018, contributing more than one-third of the market, owing to high fintech investments associated with digital lending, and well-established BFSI industry in the region. However, the market across Asia-Pacific region is projected to register the fastest CAGR of 21.2% during the forecast period, owing to increasing digital lending landscape, increase in number of business start-ups, and several government initiatives across the developing countries for digital lending.

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The report provides an in-depth analysis of the major market players such as Ellie MAE, Black Knight, FIS Global, Finastra, Intellect Design Arena, Fiserv, Tavant Technologies, Nucleus Software, Temenos, and Wipro. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.

The global digital lending platform market was pegged at $4.79 billion in 2018 and is anticipated to garner $19.88 billion by 2026, growing at a CAGR of 19.6% during the forecast period.

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By type, the risk & compliance management segment is estimated to register the fastest CAGR of 22.6% during the forecast period, owing to rising need among banks to redefine risk performance, credit risk and expected credit losses (ECL) and other capital ratios. However, the loan origination segment held the largest share in 2018, contributing more than one-third of the market, owing to rising need for automated loan solutions to meet growing customer demand.

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By component, the solution segment held the largest share in 2018, accounting for nearly three-fourths of the market, owing to rise in digital lending landscape, increased need for scalable lending processes, and growing regulatory and competitive pressures. However, the service segment is expected to register the fastest CAGR of 22.7% during the forecast period, owing to rise in adoption of digital technologies across the BFSI industry and need to provide enhanced as well as better services. Moreover, these services help organizations in project consulting, configuration, installation, and other essential security services.

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