Press release
Digital Lending Platform Market to See Booming Growth(CAGR of 14.79%) | Size, Share, Trends, and Forecast by 2023-2028
Digital Lending Platform Market
IMARC Group's latest report, titled "Digital Lending Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global digital lending platform market size reached US$ 10.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.79% during 2023-2028.
A digital lending platform (DLP) is a mortgage point-of-sale (POS) tool that enables access to financial services and products. It is also used for giving and recovering loans using mobile applications or web platforms. It allows a separate legal entity or individual to offer short or long-term loans that are disbursed and managed through digital channels. It is mainly utilized by lending service providers (LSPs), who collaborate with non-banking financial companies (NBFCs) to distribute credit to customers. It provides various advantages, such as quick decision-making, an easier application process, increased efficiency and better loan disbursement. Some of the commonly offered services by DLP include loan servicing, decision automation, credit bureau reporting and portfolio and risk and compliance management.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
• Black Knight Inc
• Finastra
• FIS, Fiserv Inc
• Intellect Design Arena Ltd
• Intercontinental Exchange Inc
• Nucleus Software Exports Ltd
• Pegasystems Inc
• Roostify Inc
• Tavant Technologies
• Wipro Limited
Digital Lending Platform Market Trends and Development:
The growing popularity of online banking services majorly drives the global market. This can be attributed to rapid digitization led by the penetration of high-speed internet connectivity and smartphones. Along with this, the widespread adoption of digital lending platforms in the banking, financial services, and insurance (BFSI) industry for improved customer experience and cost savings is also significantly supporting the market. Since it provides several benefits, including easy accessibility and e-signing, that enhance the decision-making process, this is further impacting the demand for digital lending platforms. Moreover, the widespread integration of machine learning (ML), artificial intelligence (AI), and blockchain with digital lending solutions are creating a positive market outlook. Some of the other factors driving the market include the increasing instances of cyber threats and money laundering.
Ask Analyst for Instant Discount and Download Full Report with TOC & List of Figure: https://www.imarcgroup.com/digital-lending-platform-market
Key Market Segmentation:
Breakup by Type:
• Loan Origination
• Decision Automation
• Collections and Recovery
• Risk and Compliance Management
• Others
Breakup by Component:
• Solutions
• Services
Breakup by Deployment Model:
• On-premises
• Cloud-based
Breakup by Industry Vertical:
• Banks
• Insurance Companies
• Credit Unions
• Savings and Loan Associations
• Peer-to-Peer Lending
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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