PUBLISHER: Allied Market Research | PRODUCT CODE: 1239601
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239601
Lending technology is a secure online method of delivering loans and financial services to customers. Customers can access a digital platform from banks and other financial lending organizations to handle loans and related operations. In addition, today, a lot of FinTech businesses include lending in their services, which has provided many customers with a smooth and convenient experience.
Ease of applying loans for borrowers and numerous other benefits for lenders, such as automated loan management, and rapid loan approval are shifting their attention toward digital lending, thus driving the lendtech market growth. In addition, rise in government initiatives toward lending technology and increased focus towards digitalizing lending process are becoming major factors propelling the growth of lendtech. However, rise in security & compliance concerns is expected to hinder the growth of lendtech market. On the contrary, technological advancements, such as integration of cloud-based model allows firms to manage all the applications simultaneously, which is expected to offer remunerative opportunities for the expansion of lendtech market during the forecast period.
The lendtech market is segmented on the basis of component, deployment mode, type, organization size, end user and region. On the basis of component, it is categorized into solution and services. On the basis of deployment mode, it is classified into on-premise and cloud. On the basis of type, it is divided into consumer lending and business lending. By organization size, large enterprises and small and medium-sized enterprises. By end user, it is segmented into banks, credit unions and NBFCs. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the lendtech market such as Visa, Inc., American Express, Fiserv, Inc., Finastra, Nelito Systems Pvt. Ltd., Q2 Software, Inc., Newgen Software Technologies Limited, FIS, Roostify, Inc., and Pegasystems Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the lendtech industry.