Digital Lending Platform Market Comprehensive Analysis, Growth Forecast from 2019 to 2025

The Digital Lending Platform market is projected to surpass USD 17 billion by 2025. The cloud-based digital lending platform is projected to exhibit a significant CAGR over the forecast time and the growing demand from financial institutions for documentation storage, fast processing, and reduced time & cost related to loan processing is contributing to the proliferation of the cloud-based digital lending platform. Also, the growing digitization and rapid cloud adoption across financial institutions are proliferating the market growth.

Fintech companies, which specialize in several lending services, such as P2P lending, SME finance loans, personal loans, and automobile loans, are receiving substantial investment to grow and offer loans to potential credit seekers. For instance, in 2018, Fintech companies in North America received funding of over USD 9.10 billion and Asia Pacific fintech companies received funding of more than USD 5.80 billion. These firms are focusing on narrow target customers, such as salaried employees above the salary of USD 300, to offer loans ranging from USD 150 to USD 1,500.