Digital Lending Platform Market Outlook 2023, Share, Size, Key Players and Forecast By 2028

How Big is the 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”, offers a comprehensive analysis of the industry, which comprises insights on the digital lending platform industry share. The report also includes competitor and regional analysis, and contemporary advancements in the market. 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.

What is Digital Lending Platform ? :

A digital lending platform (DLP) represents a mortgage point-of-sale (POS) tool that makes access to financial products and services inclusive and fair. It mainly depends on web platforms or mobile apps for managing loans. DLP provides several key benefits, such as quick decision making, better loan disbursement, increased efficiency, and an easier application process. As a result, this service is being utilized by various financial institutions to reduce the processing time and eliminate the risk of human errors. Presently, several companies are introducing next-generation, end-to-end cloud-based lending DLPs. In addition to this, advances in payment trends are encouraging enterprises to use this platform for improving productivity, increasing revenue, and delivering fast services.

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Who are the key Players Operating in the Industry ? :

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

What are the Growth Prospects and Trends in the Digital Lending Platform Industry ? :

The escalating demand for these platforms in the BFSI sector for improved customer experience, better decisions, and significant cost savings, owing to the emerging trend of globalization and the growing popularity of online banking services, is among the primary factors fueling the digital lending platform market. Besides this, the rising usage of internet-based channels by the leading enterprises for lending loans, on account of the sudden outbreak of the COVID-19 pandemic across the globe, is further augmenting the market growth. Moreover, the increasing dependence on smartphones, the high internet penetration, and the various benefits offered by DLP, including e-signing and easy accessibility, are also catalyzing the global market.

Apart from this, the elevating focus on digital automation, as it involves minimum paperwork and minimizes the chances of human errors, is acting as another significant growth-inducing factor. Furthermore, several companies are integrating advanced technologies, such as blockchain, artificial intelligence (AI), machine learning, and analytics, to mitigate fraud, which is anticipated to propel the digital lending platform market over the forecasted period.

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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

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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