Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Digital Lending Platform Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”

LOS ANGELES, July 15, 2021 (GLOBE NEWSWIRE) -- The Global Digital Lending Platform Market is expected to grow at a CAGR of around 16.8% from 2021 to 2028 and reach the market value of over US$ 20.5 Bn by 2028.

Asia Pacific to witness fastest growing CAGR for the digital lending platform market in the coming years

India is expected to ride the digital lending platform with the highest peak in the Asia Pacific region during the forecast period. This is primarily due to the fact that new age fintechs in India are at the forefront of disrupting the digital lending platform market. According to sources, there are currently approximately 1,000 fintechs operating in India, and their digital models have assumed a broader scope and coverage. Second, the increasing prevalence of digitalization and consumer behavioral patterns have seen a drastic shift, which is responsible for the growth of digital lending platforms in this region, ultimately contributing to the growth of the global digital lending platform market.

DOWNLOAD SAMPLE PAGES OF THIS REPORT@ https://www.acumenresearchandconsulting.com/request-sample/2716

Europe, on the other hand, is expected to have the second largest market share in the digital lending platform market. Through regulatory support, digital lending has taken a turn in many countries. As a result of this, Europe has seen the most rapid growth in the global digital lending platform market. For example, European Union’s Second Payments Services Directive went into effect in January 2018, providing lucrative opportunities for European markets by allowing consumers to pay directly from their accounts rather than through third-party channels using credit or debit cards.

The digital lending platform market is dominated by North America. The high influx of startups, such as fintechs, and the hub for established players have gained significant market importance. For example, Kabbage, a company based in the United States, has been using proprietary technology to offer loans directly to small businesses and consumers via automated credit processes. Another company, OnDeck, offers business loans of up to US$250,000 in a single day. Currently, OnDeck has made over US$7 Bn in loans to small businesses in the United States, Canada, and Australia.

VIEW TABLE OF CONTENT OF THIS REPORT@ https://www.acumenresearchandconsulting.com/digital-lending-platform-market

COVID-19 impact on global digital lending platform market

According to an OECD report, the corona virus pandemic has resulted in widespread loss around the world. The OECD's Economic Outlook for June 2020 projected a 6% drop in global GDP, and a 7.6% drop in the case of a second wave by the end of 2020. COVID-19, on the other hand, had a significant impact on the global digital lending platform market. Several banks are focusing on improving their digital lending service offerings to a large consumer base through the introduction of digitalization in order to achieve a higher profit matrix.

Segmental Outlook

The global digital lending platform market is segmented as solution, service, deployment, and end-use. Based on solution, the market is segmented as business process management, lending analytics, loan management, loan origination, risk & compliance management, and others. Further, service segment is segmented as design & implementation, training & education, risk assessment, consulting, and support & maintenance. By deployment, the market is bifurcated into on-premise and cloud. By end-use, the market is segmented as banks, insurance companies, credit unions, savings &loan associations, peer-to-peer lending, and others.

Browse Upcoming Market Research Reports@ https://www.acumenresearchandconsulting.com/forthcoming-reports

Competitive Landscape

The prominent players of digital lending platform involve KreditBee, Kissht, PolicyBazaar, Loanboox GmbH, Credible, Tyro Payments Limited, Fundbox, On Deck Capital, Funding Circle, and among others 

Some of the key observations regarding digital lending platform include:

  • In February 2021, KreditBee, announced raising of US$ 75 Mn. KreditBee a leading startup with a large portfolio of loan products, this investment will definitely assist to take positive steps towards achievement of of large capital markets. The main focus of raising the investment by KreditBee is to help underserved population to offer maximum lending platform options.

  • In April 2019, Fundbox, announced partnership with Synchrony Business Center. With implementation of successful partnership, Synchrony Business Center small business merchants who are involved for application of credit for business can conveniently access the Fundbox service through Synchrony Business Center.

INQUIRY BEFORE BUYING@ https://www.acumenresearchandconsulting.com/inquiry-before-buying/2716

BUY THIS PREMIUM RESEARCH REPORT - https://www.acumenresearchandconsulting.com/buy-now/0/2716

Would like to place an order or any question, please feel free to contact at sales@acumenresearchandconsulting.com | +1 407 915 4157

For Latest Update Follow Us:

https://twitter.com/AcumenRC

https://www.facebook.com/acumenresearchandconsulting

https://www.linkedin.com/company/acumen-research-and-consulting

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.