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New Research on Digitization in Lending Market Studied in Detail by Focusing on Type, Application and Competitive Landscape with Companies Like Rise Credit, FirstCash

Global Digitization in Lending Market by Loan Type (Personal Loans, Auto Loans, Business Loans); by Deployment (On Computer, On Smart Phone); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Brazil, Rest of Latin America) – Insights, Industry Trends, Price Trends, Growth, Size, Supply, Demand, Comparative Analysis, Competitive Market Share and Forecast, 2018-2026


Pune, India -- (SBWIRE) -- 11/09/2018 -- Digital lending is a borrowing process, which is carried out on the online or digital platform without making use of paperwork. This platform makes use of automated processes such as document and electronic data capture, e-signatures, and automated underwriting. Through digital lending automation complex processes becomes easy to operate and helps in decreasing manual interferences, owing to which the demand of digital lending is increasing. Thus, in coming years there will be an increasing adoption of digital lending. The Global Digitization in Lending Market was valued at US$ 2693460 Mn in 2017 and is expected to reach US$ 22514830 Mn by 2022.

Digital lending is operated through electronic manner only. For instance, banks sell home loans, auto loans, personal loans or credit cards through digital channels such as email, Facebook, Google, etc. Digital lending is a time saving process and has increased data security, thereby more people are incorporating the usage of digital lending.
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Digitization in Lending Market, By Loan Type
Business loan segment leads the global market; it contributed a major market share of more than half percent in 2017. It is projected that this segment will retain its dominance in the forecast period. The major factor that is driving this segment is the rising number of small-scale businesses across the world. For instance, India's focus on digital transformation in the last few years coupled with other efforts such as the Jan Dhan Yojana and the direct benefit transfer scheme by the government has opened up vast space in the business of lending more specifically in the business lending space. The digital initiative adopted by the government and corporate India have made sourcing of funds relatively easy today.

Digitization in Lending Market, By Region
Europe accounted for the largest revenue of around US$ 1070650 Mn in the digitization in lending market in 2017. In Europe, the U.K. and France contributed the largest share in the market in the region. However, with the presence of major banking sectors in countries in U.K. and France have positively contributed to the growth of the market. In Europe, HSBC bank is one of the leading banks with total assets. With the continuous growth in finance sector in this region is boosting the growth opportunities for the market.

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Competitive Landscape
The report provides both, qualitative and quantitative research of the market, as well as strategic insights along with developments that are being adopted by the key contenders. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as mergers and acquisition (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their competitors, service type, application and specification, pricing, and gross margin.

Market Participants include Rise Credit, FirstCash, Inc., Speedy Cash, LendUp, Elevate, NetCredit, Avant, Inc., Opportunity Financial, LLC., Prosper Marketplace, Inc., The Business Backer LLC., Headway Capital Partners LLP, Blue Vine, Lendio, RapidAdvance, AmigoLoans Ltd, Lendico, Trigg, Lending Stream, 118118Money, Simplic, Wonga Group, OnDeck, Kabbage, Inc., Fundation Group LLC, among others.