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Digital Lending Platform Market size worth over $59 Bn by 2032

  • Published Date: November 18, 2022

Digital Lending Platform Market size is set to reach USD 59 billion by 2032, according to a new research report by Global Market Insights Inc.

Prompt adoption of advanced technologies like blockchain and AI with positively influence the industry outlook. These technologies are helping providers of digital lending platforms to introduce innovative operating models and credit provisions for individuals and businesses. Increasing focus on the development of sophisticated data-driven AI digital lending platforms should enable faster lending processes via online channels.

Digitalization of credit unions with microlending platforms

China Digital Lending Platform Market Share By Application

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The credit union application is projected to exhibit over 20% CAGR up to 2032. Credit unions are leveraging digital lending solutions to offer loan applications that customers can submit from any device. Growing need to remove friction between borrowers and lenders and speed up the lending process is accelerating the digital transformation of credit unions.

Rise in loan frauds to propel the demand for risk & compliance management systems

The digital lending platform market from risk & compliance management systems is expected to witness around 20% gains through 2032. These systems address the growing need to limit the risks associated with loan approvals of fraudulent firms and default customers. It helps financial firms and lending service providers by protecting them against potential security threats. These systems also ensure compliance with constantly changing regulatory and legal obligations, increase efficiency and generate outstanding business outcomes.

Browse key industry insights spread across 270 pages with 440 market data tables and 48 figures & charts from the report, “Digital Lending Platform Market Size By Component (Solution [Loan Origination System (LOS), Loan Management System, Risk & Compliance Management System, Point of Sale (PoS) Systems, Lending Analytics, Collection & Recovery System], Service [Support & Maintenance, Design & Implementation, Training & Education, Risk Assessment, Consulting]), By Deployment Model (On-Premise, Cloud), By Business Model (Customer Driven, Staff Driven), By Product (Personal Loan, Automotive Loan, SME Finance Loan, Mortgage Loan), By Application (Banks & NBFCs, Credit Unions, Fintech Companies, P2P lenders), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:


Digital lending platforms to benefit training & education service providers

The training & education services is anticipated to expand at more than 22.5% growth rate from 2023 to 2032. Efforts to raise awareness and train end-users to effectively deploy digital lending platform solutions will escalate training and educational service providers to improve customers’ ability to meet business objectives.

SME finance loan offer flexible repayments & minimal documentation

The SME finance loan segment held approximately 14.5% of the digital lending platform market revenue share in 2022. Advancement in digital lending platforms is helping banks, fintech firms, and NBFCs to facilitate faster loan processing, approval, and disbursal whilst reducing documentation significantly. Startups and SMEs often lack robust capital resources required to run operations, stock up inventory, or recover from losses in the infancy stage. Small business loans offer a wide variety of benefits such as easy accessibility, minimal or zero documentation, collateral-free, tax benefits, and flexible repayments.

Advent of digital banking to foster the MEA market growth

The Middle East & Africa digital lending platform industry will dominate 20% of the revenue share by 2032. The availability of robust financial infrastructure in MEA countries is attracting various international fintech leaders and encouraging native financial institutions. Several domestic banks in the region have introduced digital banking solutions with the aim of serving modern-day banking needs.

Strategic collaborations to boost competitive landscape

ARGO Data Resource Corporation, Built Technologies, Inc., CU Direct, Base-Net Informatik AG, and Decimal Technologies Pvt. Ltd. are some of the leading companies in the global digital lending platform market. These participants are entering strategic collaborations and partnerships to provide innovative banking solutions.

Authors: Preeti Wadhwani, Smriti Loomba