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The Worldwide Digital Lending Industry Is Expected To Reach $20.5 Billion By 2026

DUBLIN, Oct. 19, 2021 /PRNewswire/ -- The "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 -...

DUBLIN, Oct. 19, 2021 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.

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.

The growing demand for digital lending platforms among SMEs to drive the Digital Lending market. Digital lending enables SMEs to research various lenders and the terms they are offering and choose the best option. It also reduces the time for loan disbursement from 2-3 months in case of offline lending to just 2-3 days. This is crucial for SMEs as it helps them meet the working capital needs to facilitate smooth operations.

By Services, the Support and Maintenance segment to grow at the higher CAGR during the forecast period.

By Services, the Support and Maintenance segment is expected to grow at a higher growth rate during the forecast period. Support and maintenance services include assistance related to the implementation and the use of digital lending solutions. Support and maintenance services help in the resolution of the lender's queries pertaining to digital lending solutions. Support and maintenance teams help organizations reap the maximum benefits from the investments made to implement digital lending solutions.

By Solutions, the Point Solutions segment to hold the larger market size during the forecast period.

The Point Solutions segment is expected to hold a larger market size. Point Solutions refer to the solutions offered to address a single section of the entire loan processing life cycle. Point solution providers specialize in overcoming specific use cases or challenges that the users face during the loan application process, providing more flexibility to meet their needs.

By End User, NBFCs segment to grow at the highest CAGR during the forecast period.

The Non-banking Financial Companies (NBFCs) segment is projected to grow at the highest CAGR during the forecast period. Since NBFCs usually don't have a large distribution network, they are going digital to have a chance to reach out to a larger customer base, even in tier 2 and tier 3 cities. This adaptation of digital lending has improved the quality of decision-making for NBFCs.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights4.1 Attractive Opportunities in the Digital Lending Market4.2 Market, by Offering4.3 Market, by Solutions4.4 Market, by Services4.5 Market, by End-user4.6 Digital Lending Market, by Deployment Mode4.7 Market, by Region4.8 Market, by Country

5 Market Overview and Industry Trends5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Proliferation of Smartphones and Growth in Digitalization5.2.1.2 Need for Better Customer Experience5.2.1.3 Government Actions to Safeguard Digital Lending5.2.1.4 Greater Visibility and Options for Borrowers and Lenders5.2.1.5 Growing Demand for Digital Lending Platforms Among SMEs5.2.1.6 Surge in Digital Lending During the Pandemic5.2.2 Restraints5.2.2.1 Higher Dependency on Traditional Lending Methods5.2.3 Opportunities5.2.3.1 Rise in Adoption of Ai, Machine Learning, and Blockchain-Based Digital Lending Platforms and Solutions5.2.3.2 Increase in Demand for Advanced Digital Lending Solutions for Retail Banking5.2.4 Challenges5.2.4.1 Lack of Digital Literacy in Underdeveloped Countries5.2.4.2 Network Connectivity and Infrastructural Issues5.2.4.3 Data Security and Privacy Concerns due to Increasing Cyber-Attacks5.3 Industry Trends5.3.1 Regulatory Implications5.3.1.1 General Data Protection Regulation (Gdpr)5.3.1.2 Payment Card Industry Data Security Standard (PCI Dss)5.3.1.3 Payment Services Directive 2 (Psd2)5.3.1.4 Know Your Customer (KYC)5.3.1.5 Anti-Money Laundering (Aml)5.3.1.6 Electronic Identification, Authentication, and Trust Services (Eidas)5.3.1.7 Health Insurance Portability and Accountability Act (HIPAA)5.3.1.8 Federal Information Security Management Act (Fisma)5.3.1.9 Gramm-Leach-Bliley Act (Glba)5.3.1.10 Sarbanes-Oxley Act (Sox)5.3.2 Digital Lending Models5.3.3 Use Cases5.3.3.1 Case Study 1: Finastra Helped Beacon Credit Union to Create Accurate, Compliant Loan Documentation in a Fast, Straightforward, and Highly Automated Way5.3.3.2 Case Study 2: with the Help of Fiserv, Toyota Financial Services Integrated Paperless Contracting into Its Business Practices5.3.3.3 Case Study 3: Nordic Fintech Pioneer Folkefinans Migrates Products to Mambu and Launches Revolving Credit Loan5.3.3.4 Case Study 4: Idea Bank Reduced the Generation Time for Each New Loan or Leasing Application with the Help of Hes Fintech5.3.3.5 Case Study 5: Moneyman Automated the Entire Microfinance Lending Process with Hes Fintech

6 Digital Lending Market, by Offering6.1 Introduction6.1.1 Offering: Market Drivers6.1.2 Offering: Impact of COVID-19 on the Market6.2 Solutions6.2.1 Digital Lending Platforms6.2.2 Point Solutions6.2.2.1 Loan Origination6.2.2.2 Loan Servicing6.2.2.3 Loan/Debt Collection6.2.2.4 Limit and Collateral Management6.2.2.5 P2P Lending Software6.2.2.6 Others6.3 Services6.3.1 Consulting6.3.2 Implementation6.3.3 Support and Maintenance

7 Digital Lending Market, by Deployment Mode7.1 Introduction7.1.1 Deployment Mode: Market Drivers7.1.2 Deployment Mode: Impact of COVID-19 on Market7.2 Cloud7.3 On-Premises

8 Digital Lending Market, by End-user8.1 Introduction8.1.1 End-user: Market Drivers8.1.2 End-user: Impact of COVID-19 on the Market8.2 Banks8.3 Credit Unions8.4 Non-Banking Financial Companies (Nbfcs)

9 Digital Lending Platform Market, by Region

10 Competitive Landscape10.1 Overview10.2 Top Vendors in the Digital Lending Market10.3 Competitive Scenario10.3.1 Product Launches10.3.2 Deals10.3.3 Others

11 Company Profiles11.1 Key Players11.1.1 Fiserv11.1.2 Ice Mortgage Technology11.1.3 Fis11.1.4 Newgen Software11.1.5 Nucleus Software11.1.6 Temenos11.1.7 Pega11.1.8 Intellect Design Arena11.1.9 Tavant 11.1.10 Sigma Infosolutions11.2 Other Players11.2.1 Docutech11.2.2 Cu Direct11.2.3 Abrigo11.2.4 Wizni11.2.5 Built Technologies11.2.6 Turnkey Lenders11.2.7 Finastra11.2.8 Rupeepower11.2.9 Roostify 11.2.10 Juristech 11.2.11 Decimal Technologies 11.2.12 Hes Fintech 11.2.13 Argo 11.2.14 Symitar 11.2.15 Edgeverve 11.2.16 Tcs 11.2.17 Wipro 11.2.18 Sap 11.2.19 Oracle 11.2.20 Bny Mellon 11.2.21 Black Knight

12 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/och93i

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