Selbyville, Delaware, Aug. 05, 2019 (GLOBE NEWSWIRE) --
The digital lending platform market revenue by 2025 is poised to reach a valuation of over $17 billion, according to a 2019 Global Market Insights, Inc. report. The market growth is due to rising internet penetration coupled with the proliferation of smartphones and an increase in the extent of digitization across financial institutions.
The on-premise digital lending platform market held over 74% share in the revenue in 2018 due to lower Total Cost of Ownership (TCO) as there are minimal or zero monthly or annual subscription fees. The increasing number of cyberattacks and data breaches is supporting the financial institutions to adopt on-premise platforms to avert cyber risk, which is contributing to market demand.
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POS digital lending platform market will grow at a CAGR of 24% over the forecast timeline due to innovative and flexible repayment methods offered to merchants. Fintech companies are using data from POS machine to calculate loan tenure, approved amount, and related credit risk. These credit decisions are backed by several advanced technologies including blockchain, machine learning, and artificial intelligence.
The banks & NBFCs segment accounted for more than 55% share in 2018 and is anticipated to maintain the digital lending platform market share by 2025 due to rise in digitization to improve front-end customer experience and increase customer acquisition through social media channels. The financial institutions are focusing on strategic alliances with fintech companies to acquire specific customer information.
Browse key industry insights spread across 330 pages with 489 market data tables & 34 figures & charts from the report, “Digital Lending Platform Market Size By Component (Solution [Loan Origination System, Loan Management System, Risk & Compliance Management System, Point of Sale (POS) Systems, Lending Analytics, Collection & Recovery System], Service), Deployment Model (On-Premise, Cloud), Business Model (Customer Driven, Staff Driven), Product (Personal Loan, Automotive Loan, SME Finance Loan, Mortgage Loan), Application (Banks & NBFCs, Credit Unions, Fintech Companies, P2P lenders), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019– 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/digital-lending-platform-market
Asia Pacific digital lending platform market will grow at a CAGR of more than 25% over the forecast timeline due to the increasing number of fintech companies and other new entrants in the industry. Supportive government initiatives in the region to propel the SMEs through digitization and formalization to support economic growth and create ample jobs will contribute to market growth. The increasing disposable income improved regional infrastructure, and flexible payment methods are expected to increase the number of credit seekers in the regions, which will further proliferate market growth.
Prominent companies operating in the digital lending platform market are ARGO Data Resource Corporation, Built Technologies, Inc., CU Direct, Decimal Technologies, Docutech LLC, Ellie Mae, Inc., Finantix, Finastra, FIS, Fiserv Inc., Intellect Design Arena Limited, Juristech, Mambu GmbH., Newgen Software Technologies Limited, Nucleus Software, Pegasystems Inc., Roostify, Sigma Infosolutions, Symitar, and Tavant Technologies.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.