Digital lending market in India, industry revenue, sales, shares,

Market overview

Digital lending is one of the fastest growing fintech sectors in India, and it will continue to grow tremendously in the coming years. Digital lending is making loans using websites or mobile apps while using technology for credit reporting and authorization. Neo-banks, non-banking financial companies (NBFCs) and fintech start-ups have dominated this market. Commercial banks are also rapidly entering the world of financial intermediaries, either on their own or by partnering with NBFCs to share synergies through digital lending.

The benefits offered to consumers through digital channels have resulted in a good growth rate in the Indian digital loan market. Customers have started switching from traditional lending methods to digital lending methods due to the accessibility and convenience of using these platforms.

For more information on the research report, refer to the link below:-

Report Analysis

According to the research report, “India Digital Lending Market Outlook to FY’2027- Driven by the Growing Internet Population, Rising Demand for App-Based Instant Loans and Variety of Consumer Loans Offered in the Market” indicates that the market has expanded significantly over the past few years due to demand for better customer experience, changing business models, faster turnaround times and the introduction of new technologies like artificial intelligence. Smartphone usage has grown significantly in recent years as more consumers turn to digital channels, leading to a 40-60% increase in digital loan purchases.

Companies that offer digital loans have an open application process. The progress of a loan application can be followed at each stage. Even if your loan application is denied, you’ll know why, including if you didn’t qualify or if something else went wrong. Many platforms have been able to attract customers from all over the country thanks to the transparency of the digital lending process.

Market segmentation

By Non-Banking Financial Companies (NBFCs)

The market for digital lending by NBFCs is growing at a double-digit rate and on the rise. This high-potential, high-value market is driven by the growing use of new technologies and digital tools, such as artificial intelligence (AI), machine learning and data analytics, which is also prompting more people to buy digital loans. B2B and B2C business models predominate in lending by NBFCs in digital lending.

By key players

It has been found that the Indian digital loan market sector is highly fragmented with a large number of companies offering both personal and business loans. Some of the major key players are: Kissht, Aye Finance, Moneyview, Capital Float, Lending Kart, PayU, Faircent, Pine Labs, Others

Future prospects

In the coming years, the Indian digital loan market will witness a strong growth in the industry as the demand for instant loans is high. The seamless customer experience of digital lending will encourage increased borrowing in the forecast period to 2027. These apps might come with convenience fees, but they would quickly and easily satisfy people’s immediate financial demands. Companies that offer digital loans are developing new technologies, which will ultimately improve customer satisfaction by simplifying the process even further for customers. Future cost reductions through advanced technologies such as artificial intelligence and machine learning will increase the rate of customer acquisition.

For more information on the research report, refer to the link below:-

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Ankur Gupta, Marketing and Communications Manager

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This press release was published on openPR.

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