According to a new report Global Digital Lending Platform Market, published by KBV Research, The Global Digital Lending Platform Market size is expected to reach $11.6 billion by 2025, rising at a market growth of 20.3% CAGR during the forecast period. The advent of innovative technologies like block chain, artificial intelligence (AI), machine learning (ML), and robotic process automation helps financial institutions strengthen customer data security and make paperless loan processing transparent. Digital lending innovations have revolutionized financial sector companies and helped end-use industries including banks, credit unions, and insurance firms streamline their processes and improve the quality of their services.
The Solutions market dominated the Global Digital Lending Platform Market by Component 2018, and would continue to be a dominant market till 2025, growing at a CAGR of 19.2 % during the forecast period. The Services market experiencing significant growth rate CAGR of 22.4% during (2019-2025).
The on-premise segment dominated the market in 2018 and over the forecast period, it is expected to see remarkable growth. The growing number of data breaches and cyber-attacks encourages financial institutions to introduce digital lending platforms on-premise to reduce cyber risk. The Cloud market is expected to witness a CAGR of 23.7% during (2019-2025).
The bank segment was dominant in the market for the digital lending platform and is projected to maintain its dominance over the forecast period. Dominance can be attributed to implementing digitalization and growing banks' emphasis on digitizing their financial services, accompanied by strict government regulations. The Insurance Companies market is expected to witness a CAGR of 21.2% during (2019-2025). The Peer-to-Peer Lending market would witness a CAGR of 23.5% during (2019-2025). Additionally, The Credit Unions market is anticipated to witness CAGR of 21.8% during (2019-2025).
The North America market dominated the Global Digital Lending Platform Market by Region 2018. The regional market for Asia Pacific is expected to achieve substantial growth over the forecast period. This growth can be attributed to the region's growing number of fin-tech firms. The increasing number of smartphone users and the high penetration of the region's internet users are likely to drive the region's market growth.
Structural Insights: https://www.kbvresearch.com/digital-lending-platform-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
Recent Strategies Deployed in Digital Lending Platform Market
» Partnerships, Collaborations and Agreements:
Sep-2019: Ellie Mae collaborated with PollyEx, Inc., a provider of SaaS solutions for mortgage industry. in this collaboration, the Loan Trading Exchange of PollyEx will be integrated with Ellie Mae's Encompass® Digital Lending Platform, through Ellie Mae's Encompass Partner Connect™ API technology. The integration enables the lenders in sharing data between Encompass and PollyEx's Loan Trading Exchange, maximizing efficiency at the time of loan sale process.
Aug-2019: Ellie Mae teamed up with Visionet, a provider of technology services to US title, mortgage, and related industries. Under this collaboration, the VisiLoanReview platform of Visionet will be combined with Ellie Mae’s Encompass® Digital Lending Platform, using Ellie Mae’s Encompass Partner Connect™. This collaboration has been made for helping the clients in simplifying the process of data extraction, stacking, and indexing so that the clients can process the mortgage loan more efficiently and grow their business.
Jun-2019: Roostify came into partnership with HSBC Bank, in which HSBC launched a new mortgage platform. This mortgage solution offers the streamlined applications and fulfillment process for refinances and purchasing mortgages. The partnership is aimed at delivering a digital solution, which offers easier, faster, and less stressful loan transaction experience.
May-2019: Roostify signed a new partnership with Docutech, a leading provider of document eSign, eClose and print fulfillment technology. This partnership helps the potential buyers who wish, and expect to buy a home through using automated mortgage technology.
Apr-2019: Tavant announced its partnership with ServiceLink EXOS Technologies. In this partnership, the Tavant’s AI-powered digital lending platform – VΞLOX will be integrated with EXOS Title, EXOS Valuations and EXOS Close for increasing the customer experiences and operational efficiencies.
Mar-2019: Ellie Mae came into partnership with Tavant Technologies in order to drive the efficiency and quality in the loan origination process and providing a streamlined experience to the lenders and customers. Under this partnership, Tavant helps the lenders in accelerating the deployment, customization, and adoption of Mae Digital Lending Platform and Encompass. Also, FinXperience, the flagship product in the Tavant VΞLOX platform will allow the lenders in transferring the information between two systems easily.
Feb-2019: Ellie Mae partnered with Capsilon, a provider of technology services in which Capsilon has joined the Integrated Partner Program of Ellie Mae. This combination allows the mortgage lenders for sharing the data between Capsilon’s solutions and Encompass® securely and more efficiently that drives the efficiency and quality at the every stage of the mortgage lifecycle.
Oct-2018: Ellie Mae announced collaboration with Roostify, a digital lending solution company. In this collaboration, Roostify's platform offers the bi-directional integration with Ellie Mae’s Encompass® digital mortgage lending platform. This integration helps in passing the information between two systems easily and driving the efficiency and quality in loan origination process.
Oct-2018: Tavant collaborated with Experian in order to digitize the loan origination process and creating a streamlined experience for lenders and consumers. The Experian's consumer's verified data will be integrated into Tavant's VΞLOX platform, allowing a more streamlined environment that helps the customers satisfy mortgage originators' information needs quickly and securely.
Sep-2018: Tavant teamed up with Homestar Financial Corporation in which it offers its VΞLOX platform to Homestar for helping it in transforming its digital mortgage experience. This transformation would be done through a seamless fusion of collaboration, lead lifecycle management, and personalized customer journeys.
» Acquisition and Mergers:
Sep-2019: Temenos acquired Kony, a number 1 digital banking SaaS company. the acquisition helps Temenos in strengthening its US presence and Temenos Infinity, a digital banking product.
Jul-2019: Fiserv acquired First Data Corporation in order to become the world's largest payments and financial technology Provider Company. The acquisition allows the company to better serve the clients and end-users so that they can succeed in rapidly changing world.
Mar-2019: FIS signed a definitive agreement with Worldpay, a global leader in eCommerce and payments in order to merge. The combination enhances FIS' capabilities by increasing its payment and acquiring offerings and increases Worldpay's distribution footprint significantly, and offers best-in-class enterprise banking, payments, capital markets, and eCommerce capabilities empowering the businesses and financial institutions.
Feb-2019: Pegasystems took over Infruid Labs, a business analytics and data visualization software company. The acquisition brings enterprise class capabilities and consumer grade user interface to Pega solutions for enabling the users in better understanding and easily visualizing the Pega application to improve decision making.
Dec-2018: Temenos took over Avoka, a leader in digital customer onboarding and acquisition subject to regulatory approvals. Under the acquisition, the Avoka platform will be integrated with the Temenos Digital Front Office product, for providing the banks with a comprehensive single solution for their omni-channel digital banking needs.
» Product Launches:
Feb-2019: Ellie Mae launched Ellie Mae’s Encompass Digital Lending Platform™. This platform helps the lenders of all sizes in originating more loans, shorten the time to close with the compliance, efficiency, & quality, and lower the origination costs. Through this platform, the company offers multi-channel opportunities for growth with innovation for helping the lenders engage with more homebuyers, boosting the loan acquisition productivity, and capitalizing on the growing HELOC demand.
Feb-2019: Fiserv introduced a new approach, Mortgage Momentum, a digital-focused approach that covers each stage of mortgage lifecycle starting from application to closing. This approach has been designed for allowing the lenders in managing the complex mortgage ecosystem from end-to-end.
Sep-2018: Fiserv released Originate, a suite of products that aimed at helping the credit unions and banks in delivering enhanced digital loan origination and account opening.
May-2018: Pegasystems unveiled new artificial intelligence (AI) capabilities in the latest version of Pega Know Your Customer (KYC) and Pega Client Lifecycle Management (CLM) applications. This provides transparency and complete AI control to banks, while ensuring that the banks remain in regulatory compliance, driving the additional revenues and offering exceptional customer experience.
Global Digital Lending Platform Market Segmentation
Business Process Management
Risk & Compliance Management
Integration & Deployment
Training, Education & Consulting
Support & Maintenance
By Deployment Type
By End User
Savings & Loan Associations
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
Ellie Mae, Inc.
Fidelity Information Services (FIS), Inc.
Newgen Software Technologies Limited
Sigma Infosolutions Ltd.
Tavant Technologies, Inc.
Digital Lending Platform Market Related Reports:
North America Market
Asia Pacific Market
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AUTOR: KBV Research