The global digital lending platform market size is expected to reach USD 26.26 billion by 2028 according to a new study by Polaris Market Research. The report “Digital Lending Platform Market Share, Size, Trends, Industry Analysis Report, By Solution (Business Process Management, Lending Analytics, Loan Management, Loan Origination, Risk & Compliance Management, Others), By Service, By Deployment, By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The markets are driven by the factors such as the increasing number of government initiatives coupled with the growing trend of digitalization in the financial sectors. In addition, the increasing penetration of smartphones as well as the adoption of the internet in the modernized society is acting as a catalyzing factor for the global market development. Furthermore, technological development such as the growing adoption of cloud-based platforms and integration of artificial intelligence (AI) is also creating lucrative growth in the upcoming years.
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/digital-lending-platform-market/request-for-sample
The growing support of governments for adopting digital lending platforms and creating stringent regulations for smooth operational flow is the chief driving factors for the industry. Various organizations follow the government's frame compliance rules and regulations because of the sensitivity of financial data. The increasing number of cyber-attacks is associated with the launch of several compliances that protect financial data. For instance, in January 2021, the Reserve Bank of India (RBI) declared that they created a working group for studying phases of digital offering activities, which is performed by regulated and un-regulated vendors that also comprise mobile phone apps. Therefore, these government policies and regulations may propel the demand of the industry in the near future.
Major participants such as Abrigo, Built Technology, Cu Direct, Docutech, Ellie Mae, Inc., FIS, Fiserv, Inc, Ice Mortgage Technology, Intellect Design Arena, Newgen Software, Nucleus Software, Pegasystems Inc., Sigma Infosolutions, Tavant, Temenos, Turnkey Lenders, Wilzni are some of the key players operating in the global market. There are various market players launching new products into the global industry to expand their trading operations. For instance, in July 2021, Aussie Fintech Bluestone introduced its new offering platform. This launch includes a considerable number of innovative features and development consisting of a collection of service capabilities and new loan originations.
Polaris Market Research has segmented the digital lending platform market report on the basis of solution, service, deployment, end-use and region:
Digital Lending Platform, Solution Outlook (Revenue - USD Million, 2016 - 2028)
Digital Lending Platform, Service Outlook (Revenue - USD Million, 2016 - 2028)
Digital Lending Platform, Deployment Outlook (Revenue - USD Million, 2016 - 2028)
Digital Lending Platform, End-Use Outlook (Revenue - USD Million, 2016 - 2028)
Digital Lending Platform, Regional Outlook (Revenue - USD Million, 2016 - 2028)