TurnKey Lender’s AI-powered software combined with the alternative scoring methodologies and proprietary algorithms have secured the company a place among the leading digital lending platforms on the market. RnR Market Research published an in-depth study of the digital lending platform market with a granular industry overview in different regions and segments. The report included analysis by solutions in loan origination, decision automation, portfolio management, risk & compliance management, loan management, and business process management.
RnR Market Research is a renowned company with a database of over 100,000 market reports from the world’s leading publishers. The Digital Lending Platform Market research includes fourteen chapters devoted to the industry as a whole, history of lending technology, analysis by solutions, specific services, verticals, and regions. The research also includes a global forecast for the lending platforms’ future up to 2023.
According to RnR, by 2023 the market is expected to reach $12.1 billion, compared to $5.1 billion in 2018. The Compound Annual Growth Rate (CAGR) during the period is forecast to equal 18.7%. The major factor contributing to the staggering market growth is the increased use of smartphones and mobile devices to which organizations react by continued focus on digitizing their financial services.