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United States Digital Lending Market

United States Digital Lending Market Size, Share, Analysis: By Offering: Solution, Services; By Deployment Type: Cloud Based, On-Premises; By End User: Banks, Credit Unions, NBFCs, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032

United States Digital Lending Market Outlook

The United States digital lending market size is assessed to grow at a CAGR of 12.3% between 2024 and 2032. The market is being driven by the rising digital transformation in the financial sector in the United States.

 

Key Trends in the Market

Digital lending refers to services that are aimed at providing credit facilities and loans through online platforms and digital technologies. Such services also use technologies like data analytics to assess the creditworthiness of borrowers. Some benefits of digital lending include enhanced security, improved efficiency, and increased profitability of credit unions and banks.

 

  • One of the key United States digital lending market trends includes the growing digital transformation in the financial sector in the country. Digital lending offers various benefits, including reduced operating costs, lowered loan processing costs, and enhanced compliance during the repayment period. This lending method also improves borrowers’ experiences by offering them the convenience of signing and reviewing documents remotely.
  • The United States digital lending market growth is being fuelled by increasing investments in technologies by banks and financial institutions due to factors like evolving customer demands, economic uncertainty risk, and rising competitive threats. Hence, lenders are adopting digital lending solutions to enhance their flexibility, automate end-to-end operations, and surge their productivity and accuracy.
  • Technological advancements and innovations, coupled with the increasing accessibility to the internet, are expected to positively impact the United States digital lending market demand in the coming years. Lenders are using technologies like artificial intelligence (AI) and machine learning (ML) to predict business outcomes and understand customer behaviours to make targeted decisions.
  • Such technologies also predict credit scores for consumers, enable underserved consumers to create credit profiles, support lenders to make informed decisions, assess and monitor risk factors, and automate verification processes, among others.

 

Market Analysis

Based on offering, the market is segmented into solution and services. On the basis of deployment type, the United States digital lending market segmentation includes cloud based and on-premises.

 

By end user, the market is divided into banks, credit unions, and NBFCs, among others. The major regional markets for digital lending in the United States include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States digital lending market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Fiserv, Inc. 
  • Oracle Corp. 
  • ICE Mortgage Technology, Inc. 
  • On Deck Capital, Inc. 
  • VeriPark  
  • LendingClub Corporation  
  • Kiva Microfunds 
  • Tavant
  • LendingTree, LLC 
  • Turnkey Lender Corporation  
  • Others

 

Market Share by Deployment Type

Cloud-based digital lending platforms account for a considerable portion of the United States digital lending market share. Such platforms can efficiently automate the approval process, minimise operational expenses, generate error-free workflow, and decrease the requirement for manual labour. Cloud lending platforms also support lenders to easily roll out new product categories and rapidly deploy innovative modules.

 

Besides, cloud lending platforms offer end users the flexibility to comply with evolving regulatory changes and market fluctuations. Other benefits such as faster market reach, low maintenance, automated operations, and scalability are further driving the adoption of cloud-based digital lending solutions in the United States.

 

Market Share by End User

As per the United States digital lending market analysis, credit unions use digital lending platforms to minimise loan processing time and automate and streamline operations. Credit unions are also investing in digital transformation to improve lending experience and enhance customer service. Besides, the emergence of fintech startups is prompting credit unions to expand their digital lending portfolio, offer omnichannel lending experience, and reduce loan cycle times.

 

Meanwhile, the demand for digital lending services from NBFCs is significantly increasing amid high internet and smartphone penetration, coupled with an emerging shift from conventional lenders and technological advancements by fintech institutions.

 

Competitive Landscape

Fiserv, Inc. is a prominent technology company that offers various services to the financial sector. With its headquarters in Wisconsin, the United States, the company enables money movement for financial institutions as well as businesses. It also serves different sectors such as fintech, banks, small businesses, and credit unions, among others.

 

ICE Mortgage Technology, Inc., a part of Intercontinental Exchange (NYSE: ICE), is a company that is engaged in transforming, streamlining, and digitising the residential mortgage process in the United States. It has also established its position as a prominent cloud-based loan organisation platform provider for the mortgage sector.

 

On Deck Capital, Inc. is a part of Enova International, Inc. and is engaged in delivering small business loans in the United States. It was founded in 2006 and offers a business line of credit and a business term loan to support businesses to meet their unique funding needs and customise repayment terms. Since its establishment, the company has delivered loans of USD 15 billion to small businesses in the US.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Offering
  • Deployment Type
  • End User
  • Region
Breakup by Offering
  • Solution
  • Services
Breakup by Deployment Type
  • Cloud Based
  • On-Premises
Breakup by End User
  • Banks
  • Credit Unions
  • NBFCs
  • Others
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Fiserv, Inc. 
  • Oracle Corp. 
  • ICE Mortgage Technology, Inc. 
  • On Deck Capital, Inc. 
  • VeriPark  
  • LendingClub Corporation  
  • Kiva Microfunds 
  • Tavant
  • LendingTree, LLC 
  • Turnkey Lender Corporation  
  • Others

 

Other United States digital lending market players include Oracle Corp., VeriPark, LendingClub Corporation, Kiva Microfunds, Tavant, LendingTree, LLC, and Turnkey Lender Corporation, among others.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    North America Digital Lending Market Overview

    8.1    Key Industry Highlights
    8.2    North America Digital Lending Historical Market (2018-2023) 
    8.3    North America Digital Lending Market Forecast (2024-2032)
9    United States Digital Lending Market Overview
    9.1    Key Industry Highlights
    9.2    United States Digital Lending Historical Market (2018-2023) 
    9.3    United States Digital Lending Market Forecast (2024-2032)
10    United States Digital Lending Market by Offering
    10.1    Solution
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032) 
        10.1.3    Breakup by Type 
            10.1.3.1    Digital Lending Platform 
            10.1.3.2    Point Solution
    10.2    Services
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032) 
        10.2.3    Breakup by Type 
            10.2.3.1    Consulting 
            10.2.3.2    Implementation  
            10.2.3.3    Support and Maintenance
11    United States Digital Lending Market by Deployment Type
    11.1    Cloud Based
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    On-Premises
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
12    United States Digital Lending Market by End User
    12.1    Banks 
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Credit Unions
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    NBFCs
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    United States Digital Lending Market by Region
    13.1    New England
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    Mideast
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Great Lakes
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    Plains
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Southeast
        13.5.1    Historical Trend (2018-2023)
        13.5.2    Forecast Trend (2024-2032)
    13.6    Southwest
        13.6.1    Historical Trend (2018-2023)
        13.6.2    Forecast Trend (2024-2032)
    13.7    Rocky Mountain
        13.7.1    Historical Trend (2018-2023)
        13.7.2    Forecast Trend (2024-2032)
    13.8    Far West
        13.8.1    Historical Trend (2018-2023)
        13.8.2    Forecast Trend (2024-2032)
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Fiserv, Inc. 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Oracle Corp. 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    ICE Mortgage Technology, Inc. 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    On Deck Capital, Inc. 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    VeriPark  
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    LendingClub Corporation  
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Kiva Microfunds 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Tavant  
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    LendingTree, LLC 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Turnkey Lender Corporation  
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    North America Digital Lending Market: Key Industry Highlights, 2018 and 2032
2.    United States Digital Lending Market: Key Industry Highlights, 2018 and 2032
3.    United States Digital Lending Historical Market: Breakup by Offering (USD Million), 2018-2023
4.    United States Digital Lending Market Forecast: Breakup by Offering (USD Million), 2024-2032
5.    United States Digital Lending Historical Market: Breakup by Deployment Type (USD Million), 2018-2023
6.    United States Digital Lending Market Forecast: Breakup by Deployment Type (USD Million), 2024-2032
7.    United States Digital Lending Historical Market: Breakup by End User (USD Million), 2018-2023
8.    United States Digital Lending Market Forecast: Breakup by End User (USD Million), 2024-2032
9.    United States Digital Lending Historical Market: Breakup by Region (USD Million), 2018-2023
10.    United States Digital Lending Market Forecast: Breakup by Region (USD Million), 2024-2032
11.    United States Digital Lending Market Structure

Key Questions Answered in the Report

The market is assessed to grow at a CAGR of 12.3% between 2024 and 2032.

The major market drivers are the digital transformation of the financial sector and increasing investments in technologies by banks and financial institutions.

The growing adoption of cloud-based digital lending solutions and technological advancements and innovations are the key trends supporting the market.

The major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

The various offerings of digital lending are solution and services.

The different deployment types of digital lending are cloud based and on-premises.

The significant end users of digital lending are banks, credit unions, and NBFCs, among others.

The major players in the market are Fiserv, Inc., Oracle Corp., ICE Mortgage Technology, Inc., On Deck Capital, Inc., VeriPark, LendingClub Corporation, Kiva Microfunds, Tavant, LendingTree, LLC, and Turnkey Lender Corporation, among others.

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