New York, NY -- (SBWIRE) -- 01/21/2021 -- The growth of the market is governed by various factors such as growing demand for consumer electronics and reliable and safe methods for various lending purposes

Market Size – USD 5.24 Billion in 2018, Market Growth - CAGR of 18.3%, Market Trends-Emergence of countless new opportunities for banking automation with more secured processes

The Digital Lending Platform Market is expected to reach USD 20.16 Billion by 2026, according to a new report by Reports and Data. The increase in growth is mainly associated with the increase in consumer electronics like smart phones, laptop among others coupled with the adoption of advanced cloud technology services that allows thousands of customers to access similar resources helping companies to cut down their expenses. Based on statistics, the penetration of advanced cloud based platforms that helps to develop new technology is also a significant factor stimulating market demand.

The Key players in the Digital Lending Platform Market include Ellie Mae, Fiserv, Intellect Design Arena, Nucleus Software, Finantix S.p.A, Newgen Software, Symitar Systems Inc, Sigma Infosolutions, CU Direct, Juris Technologies, FIS Global, Roostify, Mambu, HiEnd Systems, Roostify, Finastra, Argo, Decimal Technologies, Built Technologies, Argo, Rupeepower, TurnKey Lender, Sageworks, Docutech, Tavant Technologies, Temenos, and Pegasystems, HiEnd Systems

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With the utilization of digital platforms, organizations can simplify, automate, and manage the end-to-end loan processing life cycle. Various advantages like portfolio management, loan servicing, decision automation, loan origination, risk, loan management, compliance management, business process management, Application Programming Interface (API), Know Your Customer (KYC), and credit bureau reporting provided by digital lending platform providers are not only decreasing the overall time for transactions but are also improving efficiency and accuracy of processes in credit organizations.

Market Drivers

The digital lending platforms help banks to provide different financial services like high-quality services, faster loan processing, and cost-efficient financial services to customers around the world. Additionally, the use of digital lending platform helps financial service providers improve their market share and compete in a rapidly changing environment. Moreover, rapid growth of the digital lending platform market can be attributed to rise in digitalization initiatives among financial institutions and spur in government initiatives for digital lending in developing countries, like India and China. Technological developments such as integration of AI in digital lending platforms and penetration of cloud-based platforms are expected to present extensive growth opportunities for the market in the coming years.

Further key findings from the report suggest

- The Digital Lending Platform Market is estimated to reach USD 20.16 Billion by 2026, at a CAGR of 18.3% during the forecast period.
- The Decision Automation solution segment is anticipated to grow at the highest rate of 18.8% during the forecast period.
- The demand for this method is increasing, along with the growing adoption of the Digital lending platforms among corporate since it is effortless and time efficient.
- Cloud deployment is anticipated to grow at a higher rate of 18.4% during the forecast period.
- The application in Banking accounts for the largest share of 27.3% of the market in 2018.
- Digital lending in banks has emerged rapidly due to the growing preference of customers to perform transactions effortlessly without any inconvenience.
- APAC is forecasted to be the fastest growing market with the highest rate of 18.6% during the forecast period. The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and rising use of technology in the emerging countries like India, and China, along with several initiatives taken by the government.
- Various players are developing strategies to mark their presence in the industry.
- R&D initiatives by companies to improve healthy products that have a broad application base are anticipated to create tremendous growth possibilities for industry participants.
- It is expected that, with the evolving technological advancements, Banks will include sources of deep business focus, pervasive analytics, pure agnosticism, open source, and extensive automation as architectural policies, to attain new levels of agility, scalability, and flexibility.
- Fiserv partnered with a provider of payment processing solutions, Dade Systems in October 2018.
- This acquisition was made to work together to improve and offer SaaS-based or standalone banking solution to their integrated business clients.

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Deployment Outlook (Revenue, USD Million; 2018-2026)
- On-premises
- Cloud

Solutions Outlook (Revenue, USD Million; 2018-2026)
- Business Process Management
- Decision Automation
- Loan Origination
- Loan Management
- Others

Services Outlook (Revenue, USD Million; 2018-2026)
- Design and Implementation
- Risk Assessment
- Training and Education
- Consulting
- Support and Maintenance

Application Outlook (Revenue, USD Million; 2018-2026)
- Banking
- P2P Lenders
- Financial Services
- Insurance
- Retail Banking

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Regional Landscape

By region, North America is expected to account for the highest market share of the digital lending platform market, owing to the presence of a large number of digital lending platform manufacturers. Additionally, the high rate of digitalization of organizations and the advent of digital technologies in this region are also further pushing organizations to adopt digital lending platform services and solutions on a large scale. The markets in Asia Pacific and Europe are predicted to present prospective growth avenues too, owing to the high penetration of smartphones.

The regional analysis covers the following regions of the key geographies of the 777 market:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Global Digital Lending Platform Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Digital Lending Platform Market Segmentation & Impact Analysis

Continued……….

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