Asia Pacific Digital Lending Platform Market By Component (Solutions and Services) By Deployment Type (On-premise and Cloud) By End User (Banks, Insurance Companies, Peer-to-Peer Lending, Credit Unions, Savings & Loan Associations and Others) By Country, Industry Analysis and Forecast, 2019 - 2025
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The Asia Pacific Digital Lending Platform Market would witness market growth of 22.5% CAGR during the forecast period (2019-2025). Financial institutions growing emphasis on providing their customers with enhanced and personalized experience is expected to drive the market during the forecast period. In addition, the increasing change from traditional lending to digital lending and the growing need among lenders and borrowers to minimize loan management time is expected to fuel market growth. Increasing internet penetration, along with mobile proliferation, is expected to further fuel market growth.
The rising emphasis of both financial institutions and their customers on digital channels has led to an increase in the market volume of payment transactions. This is expected to drive digital lending platform demand to handle the processing of transactions. In addition to existing customer data, the digital lending platform uses industry best practices and personalized models to simplify the lending process. It also removes the risk of making inappropriate decisions as it occurs in traditional lending. However, challenges like data theft and concerns about privacy are expected to pose market growth as a challenge. The digital platform heavily relies on technology and access to the internet. A single technical problem with a device or power outage can disable the ability of a user to use a digital platform virtually. Other barriers, such as higher dependence on conventional lending methods and lack of digital literacy in underdeveloped countries, are expected to limit market growth to some extent.
Based on Component, the market is segmented into Solutions and Services. The Solutions Segment id further bifurcated into Business Process Management, Loan Origination, Loan Management, Risk & Compliance Management, Lending Analytics and Others. The Services segment is further categorized into Integration & Deployment, Training, Education & Consulting and Support & Maintenance. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into Banks, Insurance Companies, Peer-to-Peer Lending, Credit Unions, Savings & Loan Associations and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ellie Mae, Inc., Fidelity Information Services (FIS), Inc., Fiserv, Inc., Newgen Software Technologies Limited, Pegasystems, Inc., Roostify, Inc., Sigma Infosolutions Ltd., Tavant Technologies, Inc., Wizni, Inc., Temenos AG, and Abrigo, Inc.
Scope of the Digital Lending Platform Market Analysis
- Business Process Management
- Loan Origination
- Loan Management
- Risk & Compliance Management
- Lending Analytics
- Integration & Deployment
- Training, Education & Consulting
- Support & Maintenance
By Deployment Type
By End User
- Insurance Companies
- Peer-to-Peer Lending
- Credit Unions
- Savings & Loan Associations
- South Korea
- Rest of Asia Pacific
- Ellie Mae, Inc.
- Fidelity Information Services (FIS), Inc.
- Fiserv, Inc.
- Newgen Software Technologies Limited
- Pegasystems, Inc.
- Roostify, Inc.
- Sigma Infosolutions Ltd.
- Tavant Technologies, Inc.
- Wizni, Inc.
- Temenos AG
- Abrigo, Inc.
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