Digital Lending Platform Market Size, Share & Trends Report

Digital Lending Platform Market Size, Share & Trends Analysis Report By Solution (Business Process Management, Lending Analytics, Loan Management), By Service, By Deployment, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report ID: GVR-4-68038-066-8
Number of Report Pages: 120
Format: PDF, Horizon Databook

Historical Range: 2017 - 2021
Forecast Period: 2023 - 2030
Industry: Technology

Market Segmentation

Digital Lending Platform Solution Outlook (Revenue, USD Million, 2017 - 2030)
- Business Process Management
- Lending Analytics
- Loan Management
- Loan Origination
- Risk & Compliance Management
- Others
Digital Lending Platform Service Outlook (Revenue, USD Million, 2017 - 2030)
- Design & Implementation
- Training & Education
- Risk Assessment
- Consulting
- Support & Maintenance
Digital Lending Platform Deployment Outlook (Revenue, USD Million, 2017 - 2030)
- On-premise
- Cloud
Digital Lending Platform End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Banks
- Insurance Companies
- Credit Unions
- Savings & Loan Associations
- Peer-to-Peer Lending
- Others
Digital Lending Platform Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
  - North America Digital Lending Platform Market, by Solution
    - Business Process Management
    - Lending Analytics
    - Loan Management
    - Loan Origination
    - Risk & Compliance Management
    - Others
  - North America Digital Lending Platform Market, by Service
    - Design & Implementation
    - Training & Education
    - Risk Assessment
    - Consulting
    - Support & Maintenance
  - North America Digital Lending Platform Market, by Deployment
    - On-premise
    - Cloud
  - North America Digital Lending Platform Market, by End-use
    - Banks
    - Insurance Companies
    - Credit Unions
    - Savings & Loan Associations
    - Peer-to-Peer Lending
    - Others
  - U.S.
    - U.S. Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - U.S. Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - U.S. Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - U.S. Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
  - Canada
    - Canada Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - Canada Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - Canada Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - Canada Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
- Europe
  - Europe Digital Lending Platform Market, by Solution
    - Business Process Management
    - Lending Analytics
    - Loan Management
    - Loan Origination
    - Risk & Compliance Management
    - Others
  - Europe Digital Lending Platform Market, by Service
    - Design & Implementation
    - Training & Education
    - Risk Assessment
    - Consulting
    - Support & Maintenance
  - Europe Digital Lending Platform Market, by Deployment
    - On-premise
    - Cloud
  - Europe Digital Lending Platform Market, by End-use
    - Banks
    - Insurance Companies
    - Credit Unions
    - Savings & Loan Associations
    - Peer-to-Peer Lending
    - Others
  - Germany
    - Germany Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - Germany Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - Germany Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - Germany Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
  - U.K.
    - U.K. Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - U.K. Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - U.K. Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - U.K. Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
- Asia Pacific
  - Asia Pacific Digital Lending Platform Market, by Solution
    - Business Process Management
    - Lending Analytics
    - Loan Management
    - Loan Origination
    - Risk & Compliance Management
    - Others
  - Asia Pacific Digital Lending Platform Market, by Service
    - Design & Implementation
    - Training & Education
    - Risk Assessment
    - Consulting
    - Support & Maintenance
  - Asia Pacific Digital Lending Platform Market, by Deployment
    - On-premise
    - Cloud
  - Asia Pacific Digital Lending Platform Market, by End-use
    - Banks
    - Insurance Companies
    - Credit Unions
    - Savings & Loan Associations
    - Peer-to-Peer Lending
    - Others
  - China
    - China Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - China Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - China Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - China Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
  - India
    - India Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - India Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - India Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - India Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
  - Japan
    - Japan Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - Japan Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - Japan Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - Japan Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
- Latin America
  - Latin America Digital Lending Platform Market, by Solution
    - Business Process Management
    - Lending Analytics
    - Loan Management
    - Loan Origination
    - Risk & Compliance Management
    - Others
  - Latin America Digital Lending Platform Market, by Service
    - Design & Implementation
    - Training & Education
    - Risk Assessment
    - Consulting
    - Support & Maintenance
  - Latin America Digital Lending Platform Market, by Deployment
    - On-premise
    - Cloud
  - Latin America Digital Lending Platform Market, by End-use
    - Banks
    - Insurance Companies
    - Credit Unions
    - Savings & Loan Associations
    - Peer-to-Peer Lending
    - Others
  - Brazil
    - Brazil Digital Lending Platform Market, by Solution
      - Business Process Management
      - Lending Analytics
      - Loan Management
      - Loan Origination
      - Risk & Compliance Management
      - Others
    - Brazil Digital Lending Platform Market, by Service
      - Design & Implementation
      - Training & Education
      - Risk Assessment
      - Consulting
      - Support & Maintenance
    - Brazil Digital Lending Platform Market, by Deployment
      - On-premise
      - Cloud
    - Brazil Digital Lending Platform Market, by End-use
      - Banks
      - Insurance Companies
      - Credit Unions
      - Savings & Loan Associations
      - Peer-to-Peer Lending
      - Others
- MEA
  - MEA Digital Lending Platform Market, by Solution
    - Business Process Management
    - Lending Analytics
    - Loan Management
    - Loan Origination
    - Risk & Compliance Management
    - Others
  - MEA Digital Lending Platform Market, by Service
    - Design & Implementation
    - Training & Education
    - Risk Assessment
    - Consulting
    - Support & Maintenance
  - MEA Digital Lending Platform Market, by Deployment
    - On-premise
    - Cloud
  - MEA Digital Lending Platform Market, by End-use
    - Banks
    - Insurance Companies
    - Credit Unions
    - Savings & Loan Associations
    - Peer-to-Peer Lending
    - Others

Digital Lending Platform Market Dynamics

Driver: Increasing adoption of digital channel to improve customer experience

The strategic focus of banks on customer experience is pivotal in effectively catering to their clientele's needs. Digital channels are being increasingly embraced by banks, financial institutions, and credit unions to bolster their revenue growth and enhance customer experience, thereby fueling the demand for digital lending platforms. As per a McKinsey study, financial services firms have observed a revenue growth of 5%–15% through scaled personalization. The COVID-19 pandemic has further incentivized banks to leverage digital channels to augment their customer experience. A survey by Atos, an IT firm, revealed that two-thirds of banking leaders in Europe and North America have prioritized the transformation of digital customer experience by the end of 2022. Moreover, a study by Finastra, a software firm, indicated that 90% of the globally surveyed financial institutions in July 2021 acknowledged that the pandemic hastened the incorporation of new technologies and innovations in their services. Consequently, to digitalize their services, various banks are opting the option of collaboration and strategic partnerships.

Increasing implementation of advanced technologies in digital lending platforms

Financial institutions are swiftly integrating technologies like machine learning, artificial intelligence, and blockchain to augment their digital lending procedures. The use of artificial intelligence empowers lenders to cut down operational expenses, enhance customer interaction, streamline lending procedures, and simplify the process of identifying defaulters. Traditionally, credit scores were calculated using financial and other banking data. However, the application of artificial intelligence has facilitated lending firms to utilize 300-400 data points pertaining to customer financial history, behavior, income tax, and income tax history to compute the credit risk scores for their customers. Artificial Intelligence also enables them to scrutinize consumer behavior using data such as borrowers' educational background, wallet usage data, payment usage data, type of mobile phone, and social media presence. By leveraging such structured and unstructured data, lenders can procure the credit scores offline or in real-time, as per their preference. The growing cognizance among lenders about the advantages offered by AI technologies has amplified the significance of these technologies in the digital lending market sphere.

Restraint: Data privacy and security concerns

The surge in digital finance providers utilizing application-based, Unstructured Supplementary Service Data (USSD)-based, and web-based lending platforms, which are not under the regulation or supervision of the Central Bank or other financial sector authorities, is raising concerns about data privacy and security. These lenders frequently gather customer information based on the terms and conditions agreed upon by loan recipients, allowing them to manipulate personal information such as SMS logs, call logs, phone information, and Facebook contacts without the individuals' awareness. Such unethical practices raise questions about the sufficiency of current laws and regulations and their ability to mitigate these risks to consumer welfare. The escalating instances of cyberattacks globally are heightening data privacy and security concerns. For example, in July 2021, Accellion, a provider of secure file sharing and collaboration software, experienced a cyber-attack that affected its customers worldwide. The clientele of the company included offices of global corporations, government organizations, and banks. Several lenders, like Flagstar Bank, also experienced data breaches as a consequence of this cyberattack, thereby damaging the revenue growth as well as the repute of the company.

What Does This Report Include?

This section will provide insights into the contents included in this digital lending platform market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Digital lending platform market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Digital lending platform market quantitative analysis

Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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