As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The global digital lending industry is being driven by the rising investments in the banking and financial sector. In addition, the rapid digitalisation and the increasing preference for online net banking among consumers are anticipated to propel the market growth. The increased smartphone ownership worldwide is leading to an increased usage of financial apps, which is making the entire process of loan disbursement easy and convenient. Moreover, governments are increasingly supporting and promoting the use of digital technology across industry verticals to streamline business processes while enhancing their functionality. These factors are predicted to aid the market growth in the forecast period.
The rising demand for online banking services is compelling the leading market players to develop internet based digital lending solutions, which offer safe and secure banking options, among other facilities. This is expected to positively impact the industry growth in the forecast period. According to a press release issued by Lending Club Corporation (NYSE: LC), dated October 2019, the company announced the launch of their digital loan transaction platform known as LCX, which electronically connects a range of institutional investors and delivers dynamic price options and the same day settlement facility of fully funded loans. In addition, another leading digital lending vendor, Square (NYSE: SQ), in a press release dated July 2021, announced the launch of their square banking solution for small businesses. Square banking offers savings and checking accounts, as well as lending options under Square loans. These developments are expected to significantly impact the growth of the digital lending industry in the forecast period.
Market Breakup by Type and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global digital lending market are Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, Lending Club Corporation, Zopa Bank Limited, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.