Digital Lending Platform Market: Segmented By Offerings (Solution and Service), By End-use (Banks, Credit Unions, and NBFCs), And Region – Global Analysis Of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031
[ 176 + Pages Research Report ] Digital Lending Platform Market to surpass USD 50.09 billion by 2031 from USD 6.01 billion in 2021 at a CAGR of 23.63% in the coming years, i.e., 2021-31.
Product Overview
Digital lending platform Market allows customers and lenders to advance money through paperless or electronic means, providing ease of use, enhanced consumer experience, and decreased overhead through customer verification time savings. The digital lending process starts with online application with user registration, online documentation submission, customer verification & authentication, loan sanction, loan disbursement, and loan recovery.
Market Highlights
Global Digital Lending Platform market is expected to project a notable CAGR of 23.63% in 2031.
Global Digital Lending Platform to surpass USD 50.09 billion by 2031 from USD 6.01 billion in 2021 at a CAGR of 23.63% in the coming years, i.e., 2021-31. The market is driven by the aspects such as the rising number of government initiatives amount with the growing trend of digitalization in the financial segments. Moreover, the increasing penetration of smartphones as well as the implementation of the internet in the modernized society is acting as a catalyzing feature for the global market development.
Global Digital Lending Platform: Segments
Services segment to grow with the highest CAGR during 2021-31
The Services segment of the Digital Lending Market is anticipated to have a higher growth rate during the forecast period. Services provided in the market are classified into consulting, implementation, and support and maintenance services. These services help organizations in selecting the right solution, integrating it with their existing infrastructure, offering maintenance and support, and resolving issues over a period of time.
Banks segment to grow with the highest CAGR during 2021-31
The banks segment led the market share of the global revenue in 2020. Banks are aggressively concentrating on digitalizing their financial services. Strict regulations and favorable policies being pursued by governments of both developed and emerging economies are also encouraging banks to adopt digital lending platforms and enhance customer experience. Digital lending platforms typically permit banks to confirm transparency in their loan processes.
Market Dynamics
Drivers
Proliferation of smartphones and growth in digitalization
Increased number of smartphones around the globe has led to greater demand for digital lending solutions for faster and hassle-free processing of loans from anywhere. To meet customer expectations, digital lending platform suppliers are forced to improve their offerings to offer a better customer experience. Digitalization aids to automate processes, reduces the lending process costs, and reduces the access time for clients.
Increasing in adoption of AI, machine learning, and blockchain-based digital lending
AI, ML, and blockchain are among the trending technologies that are predictable to add advanced abilities to digital lending platforms and open new growth avenues. Integrating these technologies offers an easy, fast, and transparent process of raising loans. AI- and ML-based algorithms can process loan applications within seconds, thereby making the approval process truly scalable. Additionally, blockchain-based lending platform establishes a direct relationship between lenders and borrowers by eliminating the intermediaries or middlemen from the lending process.
Restraint
Higher dependency on traditional lending approaches
Many organizations choose traditional lending methodologies that are often time-consuming and tedious. Owing to their set customer base and standard ways of credit underwriting, they cannot hold innovations. Additionally, the lack of awareness of digital lending and training and skillsets to manage advanced solutions are the main factors responsible for the less adoption of automated and advanced digital lending processes.
Global Digital Lending Platform: Key Players
Fiserv (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
ICE Mortgage Technology (US)
FIS (US)
Newgen Software (India)
Nucleus Software (India)
Temenos (Switzerland)
Pega (US)
Sigma Infosolutions (India)
Intellect Design Arena (US)
Tavant (US)
Docutech (US)
Other Prominent Players
Global Digital Lending Platform: Regions
Global Digital Lending Platform market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. APAC is expected to be the fastest-growing market due to the rapid economic developments, globalization, digitalization, and the amplified proliferation of smartphones. Foremost digital lending vendors are focusing on developing pioneering lending products and technologies, which would assist automate, simplify, and manage end-to-end loan processing life cycle.
Global Digital Lending Platform is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Digital Lending Platform report also contains analysis on:
Digital Lending Platform Segments:
By Offerings
Solution
Service
By End-use
Banks
Credit Unions
NBFCs
Digital Lending Platform Dynamics
Digital Lending Platform Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Digital Lending Platform Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 6.01 billion
Revenue forecast in 2031 USD 50.09 billion
Growth Rate CAGR of 23.63% from 2021 to 2031
Base year for estimation 2020
Quantitative units
Revenue in USD million and CAGR from 2021 to 2030
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Offering, End-use and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Fiserv (US), ICE Mortgage Technology (US), FIS (US), Newgen Software (India), Nucleus Software (India), Temenos (Switzerland), Pega (US), Sigma Infosolutions (India), Intellect Design Arena (US), Tavant (US), Docutech (US) and Other Prominent Players
Product Overview
Digital lending platform Market allows customers and lenders to advance money through paperless or electronic means, providing ease of use, enhanced consumer experience, and decreased overhead through customer verification time savings. The digital lending process starts with online application with user registration, online documentation submission, customer verification & authentication, loan sanction, loan disbursement, and loan recovery.
Market Highlights
Global Digital Lending Platform market is expected to project a notable CAGR of 23.63% in 2031.
Global Digital Lending Platform to surpass USD 50.09 billion by 2031 from USD 6.01 billion in 2021 at a CAGR of 23.63% in the coming years, i.e., 2021-31. The market is driven by the aspects such as the rising number of government initiatives amount with the growing trend of digitalization in the financial segments. Moreover, the increasing penetration of smartphones as well as the implementation of the internet in the modernized society is acting as a catalyzing feature for the global market development.
Global Digital Lending Platform: Segments
Services segment to grow with the highest CAGR during 2021-31
The Services segment of the Digital Lending Market is anticipated to have a higher growth rate during the forecast period. Services provided in the market are classified into consulting, implementation, and support and maintenance services. These services help organizations in selecting the right solution, integrating it with their existing infrastructure, offering maintenance and support, and resolving issues over a period of time.
Banks segment to grow with the highest CAGR during 2021-31
The banks segment led the market share of the global revenue in 2020. Banks are aggressively concentrating on digitalizing their financial services. Strict regulations and favorable policies being pursued by governments of both developed and emerging economies are also encouraging banks to adopt digital lending platforms and enhance customer experience. Digital lending platforms typically permit banks to confirm transparency in their loan processes.
Market Dynamics
Drivers
Proliferation of smartphones and growth in digitalization
Increased number of smartphones around the globe has led to greater demand for digital lending solutions for faster and hassle-free processing of loans from anywhere. To meet customer expectations, digital lending platform suppliers are forced to improve their offerings to offer a better customer experience. Digitalization aids to automate processes, reduces the lending process costs, and reduces the access time for clients.
Increasing in adoption of AI, machine learning, and blockchain-based digital lending
AI, ML, and blockchain are among the trending technologies that are predictable to add advanced abilities to digital lending platforms and open new growth avenues. Integrating these technologies offers an easy, fast, and transparent process of raising loans. AI- and ML-based algorithms can process loan applications within seconds, thereby making the approval process truly scalable. Additionally, blockchain-based lending platform establishes a direct relationship between lenders and borrowers by eliminating the intermediaries or middlemen from the lending process.
Restraint
Higher dependency on traditional lending approaches
Many organizations choose traditional lending methodologies that are often time-consuming and tedious. Owing to their set customer base and standard ways of credit underwriting, they cannot hold innovations. Additionally, the lack of awareness of digital lending and training and skillsets to manage advanced solutions are the main factors responsible for the less adoption of automated and advanced digital lending processes.
Global Digital Lending Platform: Key Players
Fiserv (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
ICE Mortgage Technology (US)
FIS (US)
Newgen Software (India)
Nucleus Software (India)
Temenos (Switzerland)
Pega (US)
Sigma Infosolutions (India)
Intellect Design Arena (US)
Tavant (US)
Docutech (US)
Other Prominent Players
Global Digital Lending Platform: Regions
Global Digital Lending Platform market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. APAC is expected to be the fastest-growing market due to the rapid economic developments, globalization, digitalization, and the amplified proliferation of smartphones. Foremost digital lending vendors are focusing on developing pioneering lending products and technologies, which would assist automate, simplify, and manage end-to-end loan processing life cycle.
Global Digital Lending Platform is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Digital Lending Platform report also contains analysis on:
Digital Lending Platform Segments:
By Offerings
Solution
Service
By End-use
Banks
Credit Unions
NBFCs
Digital Lending Platform Dynamics
Digital Lending Platform Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Digital Lending Platform Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 6.01 billion
Revenue forecast in 2031 USD 50.09 billion
Growth Rate CAGR of 23.63% from 2021 to 2031
Base year for estimation 2020
Quantitative units
Revenue in USD million and CAGR from 2021 to 2030
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Offering, End-use and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Fiserv (US), ICE Mortgage Technology (US), FIS (US), Newgen Software (India), Nucleus Software (India), Temenos (Switzerland), Pega (US), Sigma Infosolutions (India), Intellect Design Arena (US), Tavant (US), Docutech (US) and Other Prominent Players
1. EXECUTIVE SUMMARY
2. GLOBAL DIGITAL LENDING PLATFORM MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. GLOBAL DIGITAL LENDING PLATFORM MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. GLOBAL DIGITAL LENDING PLATFORM MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. GLOBAL DIGITAL LENDING PLATFORM MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Offerings: Market Share (2020-2030F)
12.2.1. Service, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Solution, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By End-use: Market Share (2020-2030F)
12.3.1. Bank, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Credit Unions, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. NBFCs, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
1. COMPANY PROFILE
1. FISERV (US)
1. COMPANY OVERVIEW
2. COMPANY TOTAL REVENUE (FINANCIALS)
3. MARKET POTENTIAL
4. GLOBAL PRESENCE
5. KEY PERFORMANCE INDICATORS
6. SWOT ANALYSIS
7. PRODUCT LAUNCH
2. ICE MORTGAGE TECHNOLOGY (US)
3. FIS (US)
4. NEWGEN SOFTWARE (INDIA)
5. NUCLEUS SOFTWARE (INDIA)
6. TEMENOS (SWITZERLAND)
7. PEGA (US)
8. SIGMA INFOSOLUTIONS (INDIA)
9. INTELLECT DESIGN ARENA (US)
10. TAVANT (US)
11. DOCUTECH (US)
12. OTHER PROMINENT PLAYERS
Consultant Recommendation
The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
2. GLOBAL DIGITAL LENDING PLATFORM MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. GLOBAL DIGITAL LENDING PLATFORM MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. GLOBAL DIGITAL LENDING PLATFORM MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. GLOBAL DIGITAL LENDING PLATFORM MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Offerings: Market Share (2020-2030F)
12.2.1. Service, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Solution, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By End-use: Market Share (2020-2030F)
12.3.1. Bank, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Credit Unions, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. NBFCs, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
1. COMPANY PROFILE
1. FISERV (US)
1. COMPANY OVERVIEW
2. COMPANY TOTAL REVENUE (FINANCIALS)
3. MARKET POTENTIAL
4. GLOBAL PRESENCE
5. KEY PERFORMANCE INDICATORS
6. SWOT ANALYSIS
7. PRODUCT LAUNCH
2. ICE MORTGAGE TECHNOLOGY (US)
3. FIS (US)
4. NEWGEN SOFTWARE (INDIA)
5. NUCLEUS SOFTWARE (INDIA)
6. TEMENOS (SWITZERLAND)
7. PEGA (US)
8. SIGMA INFOSOLUTIONS (INDIA)
9. INTELLECT DESIGN ARENA (US)
10. TAVANT (US)
11. DOCUTECH (US)
12. OTHER PROMINENT PLAYERS
Consultant Recommendation
The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
