According to the research report titled ‘Digital Lending Platform Market Size By Component, By Deployment Model (On-Premise, Cloud), By Business Model (Customer Driven, Staff Driven), By Product (Personal Loan, Automotive Loan, SME Finance Loan, Mortgage Loan), By Application (Banks & NBFCs, Credit Unions, Fintech Companies, P2P lenders) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global digital lending platform market is projected to expand substantially between 2019-2025 and is projected to be worth USD 17 billion by 2025.
 

Rising digitization, along with increasing penetration of smartphones & tablets, and adoption of digital channels to enhance customer experience are key factors driving global digital lending platform market expansion. Moreover, integration of modern technologies like ML, AI, blockchain, and advanced analytics and supportive government regulations and initiatives will contribute to industry growth as well.
 

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On the other hand, data safety & security issues, reluctance to adopt digital financial services and dearth of digital literacy in emerging economies will hinder worldwide digital lending platform market growth between 2019-2025.
 

Based on deployment model, global digital lending platform industry is bifurcated into cloud, and on-premise. Among these, cloud-based segment is anticipated to record significant CAGR between 2019-2025, owing to surging demand from financial institutions for storage of documents and reduction in time & cost of loan processing.
 

Moreover, cloud based solutions require less service & maintenance, helps in reducing down-time and improving operational efficiency. Cloud-based digital lending platform offers low investment and enhanced future flexibility due to pay-per-use business model which aids in increasing market share held by this segment as well.
 

Speaking of application scope, worldwide digital lending platform market is divided into banks & NBFCs, P2P lenders, credit unions, and fintech companies. The report cites that fintech companies segment is projected to expand rapidly between 2019-2025 due to growing investments and increasing consumer trust in these institutes.
 

Key players profiled in the worldwide digital lending platform market report are Turnkey Lender Pte. Ltd., Temenos AG, Tavant Technologies Inc., Symitar, Sigma Infosolutions Ltd., Sageworks Inc., Roostify Inc., Pegasystems Inc., Nucleus Software Exports Ltd., Newgen Software Technologies Ltd., MortgageHippo Inc., MeridianLink, Mambu GmbH, JurisTech Sdn Bhd, Fiserv Inc., Intellect Design Arena Ltd., Fidelity National Information Services (FIS) Inc., Finastra, Finantix Pro SRL, Ellie Mae Inc., Docutech LLC, Decimal Technologies Pvt. Ltd., CU Direct Corp., Built Technologies Inc., Blend Labs Inc., and ARGO Data Resource Corporation.