Digital Banking

Digital lending platform market to reach $20.31 B by 2027

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January 26, 2022

The digital lending platform market will grow from $5.58 billion in 2019 to $20.31 billion by 2027, according to a report by Valuates Reports. It will grow at a compound annual growth rate of 16.7% from 2020 to 2027 as well, according to a press release.

The primary drivers of this market include:

• Growing popularity at banks for its monitoring capabilities and profitability.
• Government backing for digital lending platforms.
• Advances in AI integration and cloud-based platforms will boost the market.