Digital Lending Market worth $20.5 billion by 2026 – Report by MarketsandMarkets™

According to a new market research report “Digital Lending Market by Offering (Solutions (Digital Lending Platforms and Point Solutions) and Services), Deployment Mode (Cloud and On-premises), End User (Banks, Credit Unions, and NBFCs), and Region – Global Forecast to 2026”, published by MarketsandMarkets, the global Digital Lending Market size to grow from USD 10.7 billion in 2021 to USD 20.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period. Surge in digital lending during the pandemic and rising need of credit by MSMEs is driving the Digital Lending market.

Browse in-depth TOC on “Digital Lending Market”
252 – Tables
48 – Figures
229 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=70396306

The emergence of alternative lending is expected to provide multiple fold growth opportunities in the digital lending. Alternative lending, also known as marketplace lending, peer-to-peer lending and P2P lending, takes place through online platforms that use technology to bring together borrowers and lenders. This led to the rise of many alternative lending platform providers, especially during the pandemic.

Under the Services segment, the Implementation sub-segment is expected to record the largest market size in 2021. System implementation involves deployment and integration of various components required to manage the entire lending process. These services provided by vendors include a detailed design plan layout, provision of customized business solutions suiting the organizations, and assistance by trained professionals in enabling the smooth installation of solutions for remote access by end-users.

Scope of the Report

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=70396306

Among the Solutions segment, the Digital Lending platforms sub-segment is expected to have the highest growth during the forecast period. Digital lending platforms offer customized digital lending solutions at different levels of lending processes based on the requirements of the end-users. These solutions make the entire loan process easy to manage, resulting in greater customer acquisition.

Under End User segment, the Banks sub-segment is estimated to hold the largest market share in 2021. Banks provide financial services to organizations and individuals. With advancements in technologies, banks are forced to implement digital lending facilities to meet the expectations from customers. With the help of digital lending, banks can achieve smarter decision making, improved customer experience, better risk assessment, and greater cost savings.

Advertisement

Major vendors in the Digital Lending Market include Fiserv (US), ICE Mortgage Technology (US), FIS (US), Newgen Software (India), Nucleus Software (India), Temenos (Switzerland), Pega (US), Sigma Infosolutions (US), Intellect Design Arena (India), and Tavant (US).