Digitization in Lending Comprehensive Study

Digitization in Lending Comprehensive Study by Type (Personal Loans, Auto Loans, Business Loans, Home Loans, Other), Industry Vertical (Banks, Fintech Companies, Insurance Companies, Peer-to-Peer Lending, Credit Unions, Others), Deployment Model (On-Premises, Cloud), Component (Solution/Software {Loan Origination System, Loan Management System, Risk & Compliance Management System, Point of Sale (PoS) Systems, Lending Analytics, Collection & Recovery System, Other}, Services {Professional Services, Managed Services}) Players and Region - Global Market Outlook to 2028

Industry Background:

Digitization in lending is an advanced type of lending and borrowing process used by financial institutions to reduce the risk of fraud & nonperforming assets and fasten the loan lifecycle. It uses digital platforms to carry out all the lending-related processes without the need for any paperwork. It helps to automated lending processes such as document and electronic data to provide the customers with faster lending services. More than two-thirds of mid-and large-sized fintech companies have adopted digitization in lending various loans. Currently, over 3.5 billion people are regular Internet users. By 2022, 56% of the total world population will have two or more connected devices and there will be ~5 billion internet users globally. Considering the increasing internet penetration the demand for digitization in lending is expected to grow rapidly in the forecast period.

Key Developments in the Market:

In Nov.2020, BBVA USA partnered with Prosper to offer a home equity line of credit (HELOC) through its website, the U.S. subsidiary of the Madrid-based bank. This helped Prosper Marketplace, Inc. to expand its presence in digitization in lending marketIn December 2020, Bank of Baroda launched the digital lending platform with aim to have paperless process for retail customers. This platform enables prospective retail loan seekers to get loans digitally as per their convenience.

Influencing Trend:

Integration Of Blockchain & Artificial Intelligence

Market Growth Drivers:

Growing Adoption Of Digital Channels By Fintech Companies To Improve Customer Experience, Rising Penetration Of Smartphones & Tablets and Adoption Of Digital Lending In Banking Industry

Challenges:

Data Safety & Security Issues and Higher Dependency on Traditional Lending Methods

Restraints:

Lack Of Interoperability And Privacy Issues

Opportunities:

Demand Of Advanced Digital Lending Solutions For Retail Banking and Favorable Government Initiatives & RegulationsAMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.

Customization in the Report

AMA Research features not only specific market forecasts but also includes significant value-added commentary on:- Market Trends- Technological Trends and Innovations- Market Maturity Indicators- Growth Drivers and Constraints in Digitization in Lending Market- Analysis about New Entrants in Digitization in Lending Market & Entry/Exit Barriers- To Seize Powerful Market Opportunities- Identify Key Business Segments, Market Proposition & Gap Analysis- An Unbiased Perspective towards Market Performance & Indicators

Against this Challenging Backdrop, Digitization in Lending Study Sheds Light on

— The Digitization in Lending Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Digitization in Lending industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.— Where Digitization in Lending industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.— How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.

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