Digital Lending Platform Market Size, Share & Trends Analysis Report By Solution (Business Process Management, Lending Analytics, Loan Management), By Service, By Deployment, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the digital lending platform market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for digital lending platform market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of digital lending platform market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Digital Lending Platform Market Categorization:

The digital lending platform market was categorized into five segments, namely solution (Business Process Management, Lending Analytics, Loan Management, Loan Origination, Risk & Compliance Management), service (Design & Implementation, Training & Education, Risk Assessment, Consulting, Support & Maintenance), deployment (On-premise, Cloud), end-use (Banks, Insurance Companies, Credit Unions, Savings & Loan Associations, Peer-to-Peer Lending), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The digital lending platform market was segmented into solution, service, deployment, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The digital lending platform market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eight countries, namely, the U.S.; Canada; Germany; the UK.; China; India; Japan; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Digital lending platform market companies & financials:

The digital lending platform market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Fidelity National Information Services (FIS), Inc., Fidelity National Information Services (FIS), Inc. is a leading supplier of fintech solutions for a variety of applications, encompassing trade administration, asset and wealth management, payments, record maintenance, and transaction processing. The primary users of the company’s solutions are established players in the institutional banking and retail sectors. In addition to software solutions, FIS also provides consulting and outsourcing services. The company’s suite of solutions includes digital solutions, risk management and compliance solutions, card and retail payment solutions, wealth and retirement solutions, corporate liquidity solutions, ePayment solutions, government payment solutions, securities processing and finance solutions, asset management and insurance solutions, and trading solutions. Fidelity National Information Services (FIS), Inc. is structured into four segments: Merchant, Banking, Capital Markets, and Corporate and Other. The Merchant segment delivers solutions like merchant acquiring, integrated payments, and global eCommerce. The Banking segment provides solutions such as core processing and ancillary applications, along with digital solutions including mobile, internet, and ebanking; fraud, risk management, and compliance solutions; wealth and retirement solutions; card and retail payment solutions; and item processing and output amenities.

• Fiserv, Inc., A leading supplier of technology solutions for the financial services sector, Fiserv, Inc.  provides a range of products and services for electronic payments processing, account management systems, and internet and mobile banking systems, among others. The company's operations are divided into two main segments: Payments & Industry Products and Financial Institution Services. The Payments and Industry Products segment offers software and services for internet & mobile banking, electronic bill payment and presentment, account-to-account transfer, payments infrastructure, debit and credit card processing, person-to-person payment, and other electronic payments. The Financial Institution Services segment provides solutions that facilitate various financial transactions as well as services such as account processing, consulting and cash management, loan origination and servicing products, and item processing and source capture services.

• Newgen Software Technologies Limited, Newgen Software Technologies Limited is a provider of a comprehensive digital transformation platform that includes native process content services, automation, and communication management capabilities. The company leverages data analytics and internet technology to enhance user experience and reduce interest rates for borrowers. With its low-code application platform, the company designs and deploys intricate, content-centric, and customer-focused business solutions on the cloud. Newgen Software Technologies Limited categorizes its solutions for various sectors such as financial institutions, government organizations, insurance companies, and shared services centers. The category for financial institutions encompasses solutions like account opening, lending, trade finance, payments, compliance, and reporting. The lending solution comprises consumer lending, commercial lending, small business lending, Small Business Administration (SBA) lending, Small and Medium Enterprise (SME) lending, and mortgage lending. Furthermore, the company offers the NewgenONE Digital Transformation Platform, a cloud-based platform designed for automating comprehensive business processes and managing content and communication.

• Nucleus Software Exports Ltd, Nucleus Software Exports Ltd is a firm that specializes in delivering transaction banking and lending solutions to the international financial sector. The company’s software is utilized by over 200 financial institutions in 50 countries, aiding in areas such as corporate banking, retail lending, mobile and internet banking, cash management, automotive finance, and more. Nucleus Software Exports Ltd is recognized for its proficiency and innovation in the realm of transaction banking and lending solutions. The company’s product line includes two main offerings, specifically FinnOne Neo and FinnAxia. FinnOne Neo is a lending software designed to assist banks and other financial service providers in reducing credit risk and gaining an edge throughout the entire loan life cycle. FinnOne Neo provides lending solutions for both the retail and corporate sectors. Its product line includes: FinnOne Neo Customer Acquisition System (CAS), FinnOne Neo Loan Management System (LMS), FinnOne Neo Collections, FinnOne Neo Enterprise Content Management (ECM), FinnOne Neo Channel Solutions, FinnOne Finance Against Securities (FAS), Collateral Management System, Sales Assist, and Lending Analytics. FinnAxia is a comprehensive global transaction banking solution that is employed by banks around the globe. In addition to these, the company also provides professional services, application services, and managed infrastructure facilities.

• Pegasystems Inc., A provider of customer relationship management and business process solutions to various organizations, Pegasystems Inc. designs, promotes, hosts, licenses, and offers support for enterprise software solutions that aid organizations in managing their customers in a more efficient manner. In addition, it licenses its low-code Pega Platform for swift application development to clients who are looking to enhance their business applications. The customer management and digital process automation of Pegasystems Inc. are cloud-based applications that utilize Artificial Intelligence (AI), case management, and robotic automation technology. The company provides business solutions such as Customer Engagement, Customer Service, and Intelligent Automation solutions via the Pega Infinity software portfolio. The aim of Customer Engagement solutions is to optimize the lifetime value of customers. Customer Service solutions are designed to predict customer needs, link customers to the appropriate people and systems, and automate customer interactions. Intelligent Automation solutions deliver comprehensive automation to cater to the requirements of personnel and clients.

• Roostify, The company is a purveyor of advanced and secure digital lending platforms based in the cloud. The firm leverages data analytics and internet technology to deliver superior experiences and lower borrowing rates. It provides quick and adaptable home lending solutions aimed at simplifying and expediting the home loan process for both lenders and customers. Roostify has developed a web-based portal specifically for depository banks, independent mortgage institutions, and credit unions, offering real-time application visibility and enabling agents to track and share vital information without any risk. The company also provides a unified digital mortgage platform that facilitates easy collaboration between lenders and customers, reducing turnaround time and potential risks. Furthermore, the company offers a service known as Document Intelligence Service. This is a mortgage document processing service that enhances underwriting operations through automated data extraction, document classification, and data validation. Among the company’s key clients are TD Bank, HSBC Bank, Santander Bank, N. A. Guild Mortgage, Hamilton Home Loans, and Glacier Bank. It also collaborates with companies such as Matic, Black Knight, , Factual Data, Optimal Blue, Mortech, Mortgage Cadence, and Velocify.

• Sigma Infosolutions, A worldwide IT and product engineering service provider, Sigma Infosolutions delivers cutting-edge IT solutions to a variety of sectors, including technology, fintech, ecommerce, retail, telecom, and healthcare. Its solutions assist businesses in improving their operational efficiency, customer engagement, and return on investment. The company has established development centers in several Indian cities such as Ahmedabad, Bangalore, and Jodhpur. Sigma Infosolutions is recognized as an ISO 9001: 2015 & ISO/IEC 27001: 2013 certified company. It provides its services across several categories, including eCommerce, Fintech, BI & Analytics, Product Engineering, UX+UI, Digital Marketing, and Artificial Intelligence. The eCommerce category provides Magento eCommerce solutions, delivering end-to-end services for a worldwide eCommerce clientele. Additionally, the eCommerce category includes solutions like Shopify Development & Maintenance, Episerver Development & Maintenance, WooCommerce Development & Maintenance, Magento 2 migration, and Magento Development. The Fintech category provides services related to digital lending, payments, and investments. The Product Engineering category provides services such as architecture and designing, product transformation and re-engineering, development and delivery, SaaS/cloud enablement, and mobility enablement. The company's key partners include DocuSign Inc., ConvertCart, Microsoft Partner Network, Image Engine Design Inc., WebScale, SearchSpring, and JMango 360.

• Tavant, Tavant excels in delivering software solutions and products. The solutions offered by the company are driven by Machine Learning (ML) and Artificial Intelligence (AI) algorithms and are crafted to boost productivity, operational efficiency, speed, and precision, enabling businesses to thrive in a fast-paced business environment. Tavant provides digital technology solutions that have the potential to assist lenders in efficiently originating loans, reducing the time to close, and ensuring top-notch quality. The company's product suite includes Velox Digital Lending, Touchless Lending, Digital Software Factory, and FinanceNinja. Velox Digital Lending is a digital lending platform powered by AI that improves loan quality and enhances loan production efficiency. Touchless Lending is an AI-driven platform designed to automate the processes of mortgage manufacturing and mortgage underwriting. Digital Software Factory is designed to speed up the digital transformation by leveraging augmented resource structures, institutional knowledge, and metrics to streamline the digital process. FinanceNinja transforms the relationship among real estate banking professionals and homeowners by offering solutions that cater to all the needs of homeowners.

• Wizni, Inc. (Lendwize), Operating under the name LendWize, Wizni, Inc. is a purveyor of enterprise-level business and technology solutions. It provides a comprehensive digital lending platform that seamlessly integrates secondary marketing pricing, products, and loan origination. Utilizing internet technology, the company offers borrowers lower interest rates and an enhanced experience. By merging a digital lending platform with a business hub, the company deploys swift and adaptable lending applications on enterprise infrastructure. Wizni, Inc's unified digital lending platform caters to mortgage brokers, retailers, wholesalers, correspondents, banks, credit unions, and investors, offering real-time transparency into applications and enabling agents to monitor crucial information without any risk. The company's loan origination platform encompasses solutions such as the MLO Edition, Lender Edition, and Banker Edition. The MLO Edition empowers mortgage brokers to initiate loans from any location with a secure internet connection. The Lender Edition provides features like customized pricing, immediate eligibility notifications, real-time multi-channel pipeline tracking, and concurrent multi-user processing. The Banker Edition enables the company to monitor third-party channels and the loan inventory.

• ICE Mortgage Technology, Inc., Headquartered in the United States, ICE Mortgage Technology, Inc. is a provider of a cloud-based loan origination platform tailored for the mortgage sector. The company delivers technology solutions that empower lenders to decrease origination expenses, increase loan origination, and expedite the closing process, thereby ensuring optimal quality, compliance, and efficiency. ICE Mortgage Technology, Inc. functions as a subsidiary of Intercontinental Exchange, Inc. The company's solutions are offered through the ICE Mortgage Technology Platform, in addition to Encompass by ICE Mortgage Technology and Customer Engagement solutions. The ICE Mortgage Technology Platform delivers comprehensive solutions that facilitate lenders to underwrite, process, and finalize loans more rapidly. The platform encompasses core solutions such as loan origination, automated underwriting, closing collaboration, workflow automation, resource library, and loan quality & consistency. Encompass by ICE Mortgage Technology is a loan origination system that aids businesses in making informed decisions and originating loans more swiftly. Customer Engagement solutions comprise consumer engagement and wholesale engagement solutions. Furthermore, the company also offers services & support including professional services, publishing services, and support resources.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Digital Lending Platform Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Digital Lending Platform Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.