Dublin-(BUSINESSWIRE)-(Business Wire)- “Share and Trend Analysis Report by Market Size, Solution, Service, Deployment, End Use, Region, and Segment Forecast of Digital Lending Platform, 2022-2030” Report added ResearchAndMarkets.com Recruitment.
The global digital lending platform market is expected to reach US $ 4.45 billion by 2030, recording a CAGR of 25.9%.
Increasing adoption of digitalization in the BFSI sector is expected to create new opportunities for market growth. According to the European Central Bank, in 2020, 46% of European banks were able to digitally process their mortgages in two days, compared to 8% in 2015.
Funds raised by digital lending providers around the world are also one of the key factors expected to drive market growth. For example, in April 2021, digital lending platform provider Auxmoney announced that it had raised US $ 271.4 million. The company is using this money to enhance its digital lending platform for consumer credit.
In addition, companies operating in the digital lending space are focused on partnerships to strengthen their products and market position. For example, in April 2022, two fintech companies, UI Enlyte and Exaloan, announced that they would launch a strategic company. Through this initiative, businesses will link digital assets with platforms for lending.
The COVID-19 pandemic had a positive impact on market growth. Established digital lenders have adopted a new partnership in the COVID 19 pandemic to meet the borrower’s funding needs. At the same time, the efforts banks have made to digitize their processes for a pandemic have also become clear to be one of the key drivers of market growth.
Highlights of Digital Lending Platform Market Report
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The loan analysis segment is expected to register the highest CAGR during the forecast period. The benefits provided by loan analysis solutions, such as reduced operational risk, working hours, and operating costs, drive this segment.
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The risk assessment segment is expected to record the highest CAGR from 2022 to 2030. Financial institutions are expected to drive growth in risk assessments, with a focus on ensuring proactive response to a variety of cyber threats and resuming normality in the event of a cyberattack. segment.
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The cloud segment is expected to register the highest CAGR during the forecast period. The introduction of the cloud will help reduce initial costs, especially for new entrants looking to enter the lending business.
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The peer-to-peer lending segment is expected to emerge as the fastest growing end-use segment during the forecast period. As the digitally savvy consumer base continues to grow, the adoption of digital lending platforms is expected to gain momentum.
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North America had the largest market share in 2021. With so many technology providers in the region, it offers an immense opportunity to adopt a digital lending platform.
Dynamics of Digital Financing Platform Market
Market driver analysis
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Increasing adoption of digital channels to improve customer experience
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Increasing adoption of machine learning, blockchain, AI-based digital lending platforms and solutions
Analysis of market issues
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Data privacy and security concerns
Competitive landscape
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For more information on this report, please visit: https://www.researchandmarkets.com/r/qz2k0p
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