Global Digital Lending Platform Market: Introduction
Digital lending platform enables an individual or a separate legal entity to offer loans (short-term/long-term). The whole process of lending is disbursed and managed through digital channels. Rise in adoption of internet, smartphones, peer-to-peer platform, and independent platforms is driving the digital lending platform market.
Global Digital Lending Platform Market – Dynamics
Rapid Increase in Financial Inclusion Specifically in Developing Countries
The fintech industry has witnessed significant expansion across the globe. Expansion is majorly driven by Asia Pacific and Middle East. Some factors driving the market in Asia Pacific are increased internet penetration, increased government focus, and initiatives for the adoption of digitization to maintain transparency within the financial system of countries in the region. Rapid increase in the number of bank accounts has prompted financial institutions and other industries to adopt digital payment solutions to minimize the risk and to efficiently monitor and control transactions.
Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=80775
Threat of Cyber-attack
Advancements in technology have resulted in high threat of security breach and cyber-attacks. This may lead to breach of personal information and financial information of customers such as names, bank details, credentials, IDs, and phone numbers. Developers are adopting measures to tackle the issue of cyber-attacks. However, risks related to data breach by hackers are still very high. The data breach could lead to serious security concern in any event or at a public area.
North America to Dominate Global Digital Lending Platform Market
In terms of region, the global digital lending platform market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the digital lending platform market during the forecast period due to strong adoption of financial technology across the population in the region.
COVID-19 Impact on the Global Digital Lending Platform Market
The COVID-19 pandemic is expected to boost the global digital lending platform market. Social distancing and virtual payments volume has increased significantly in 2020. Increased adoption among the public has created considerable opportunity for the digital lending platform market.
Global Digital Lending Platform Market – Competition Landscape
- In July 2020, Paisabazaar launched digital lending in partnership with IndusInd Bank to offer a platform to eliminate all paper-based and physical documentation process from the loan origination process
Global Digital Lending Platform Market: Segmentation
The global digital lending platform market can be segmented based on:
- Payment Type
Global Digital Lending Platform Market, by Payment Type
Based on payment type, the global digital lending platform market can be divided into:
- Customer to Customer
- Customer to Business
- Business to Business
Global Digital Lending Platform Market, by Application
In terms of application, the global digital lending platform market can be segregated into:
- Travel & Booking
- Others (Government, Transportation)
- Financial Technology
- Digital Payment Channel
- Digital Credit
Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=80775<ype=S
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
TMR has a track record to provide ace market research solutions that has earned us the trust of our clients for their business intelligence needs. Serving 13 industry verticals with a database of over 1,000 reports and 1 million + data points, our expanse to provide market research solutions is exceptional. We deep dive for a thorough understanding of the subject, gather precise information, and then analyze it to present solutions that are par excellence.