during the forecast period. The growing demand for digital lending platforms among SMEs to drive the Digital Lending market. Digital lending enables SMEs to research various lenders and the terms they are offering and choose the best option.
New York, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Lending Market by Offering, Deployment Mode, End User And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05622758/?utm_source=GNW
It also reduces the time for loan disbursement from 2-3 months in case of offline lending to just 2-3 days. This is crucial for SMEs as it helps them meet the working capital needs to facilitate smooth operations.
• By Services, the Support and Maintenance segment to grow at the higher CAGR during the forecast period
By Services, the Support and Maintenance segment is expected to grow at a higher growth rate during the forecast period.Support and maintenance services include assistance related to the implementation and the use of digital lending solutions.
Support and maintenance services help in the resolution of the lender’s queries pertaining to digital lending solutions. Support and maintenance teams help organizations reap the maximum benefits from the investments made to implement digital lending solutions.
• By Solutions, the Point Solutions segment to hold the larger market size during the forecast period
The Point Solutions segment is expected to hold a larger market size.Point Solutions refer to the solutions offered to address a single section of the entire loan processing life cycle.
Point solution providers specialize in overcoming specific use cases or challenges that the users face during the loan application process, providing more flexibility to meet their needs.
• By End User, NBFCs segment to grow at the highest CAGR during the forecast period
The Non-banking Financial Companies (NBFCs) segment is projected to grow at the highest CAGR during the forecast period.Since NBFCs usually don’t have a large distribution network, they are going digital to have a chance to reach out to a larger customer base, even in tier 2 and tier 3 cities.
This adaptation of digital lending has improved the quality of decision-making for NBFCs.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C-Level Executives – 50%, Directors– 25%, Others*–25%
• By Region: Europe – 45%, APAC – 25%, North America – 20%, and RoW** – 10%
Note: Tier 1 companies have revenues over USD 10 billion; tier 2 companies have revenues ranging from USD 1 billion to USD 10 billion; and tier 3 companies have revenues ranging from USD 500 million to USD 1 billion
*Others include sales managers, marketing managers, and product managers
**RoW includes MEA and Latin America
Source: MarketsandMarkets Analysis
The following key Digital Lending vendors are profiled in the report:
• Fiserv (US)
• ICE Mortgage Technology (US)
• FIS (US)
• Newgen Software (India)
• Nucleus Software (India)
• Temenos (Switzerland)
• Pega (US)
• Sigma Infosolutions (US)
• Intellect Design Arena (India)
• Tavant (US)
• Docutech (US)
• Cu Direct (US)
• Abrigo (US)
• Wizni (US)
• Built Technologies (US)
• Turnkey Lenders (US)
• Finastra (UK)
• RupeePower (India)
• Roostify (US)
• JurisTech (Malaysia)
• Decimal Technologies (India)
• HES Fintech (Belarus)
• ARGO (US)
• Symitar (US)
• EdgeVerv (India)
• TCS (India)
• Wipro (India)
• SAP (Germany)
• Oracle (US)
• BNY Mellon (US)
• Black Knight (US)
The Digital Lending Market is segmented into offering, deployment mode, end user, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; solutions and services; key strategies; new product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated within the Digital Lending Market.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
• It comprehensively segments the Digital Lending Market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launch, product enhancement, partnerships, mergers, and acquisitions.
Read the full report: https://www.reportlinker.com/p05622758/?utm_source=GNW
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