The digitization in lending has led to a revolution in the banking industry, reducing paperwork and eliminating manual efforts. Digital lending is gaining momentum with a high proliferation of smartphones and improved customer experience. Robust startup scenario across the globe and easy accessibility of business and personal loans is a crucial factor boosting the market growth. The rapid adoption of artificial intelligence and machine learning for enhanced user experience is expected to benefit the market players in the future.
The global digitization in lending market is projected to grow in the forecast period on account of increased use of smartphones and digitalization in the banking sector. Automation of complex procedures and reduced paperwork further propels the growth of the digitization in lending market. However, the lack of interoperability and standards may negatively influence the market growth during the forecast period. Nevertheless, an increasing number of small and mid-sized businesses offer lucrative growth prospects for the key players of the digitization in lending market in the coming years.
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The List of Companies
– Avant, LLC
– Kabbage Inc.
– Lending Stream (GAIN Credit LLC)
– Lendio, Inc.
– LendUp (Flurish Inc.)
– Opportunity Financial, LLC
– Prosper Marketplace, Inc.
– RISE (Elevate Credit, Inc.)
– Speedy Cash
– The Business Backer, LLC
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The report aims to provide an overview of digitization in lending market with detailed market segmentation by loan type and geography. The global digitization in lending market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading digitization in lending market players and offers key trends and opportunities in the market.
The global digitization in lending market is segmented on the basis of loan type as auto loans, personal loans, and business loans.
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This post was originally published on Food and Beverage Herald