Digital Lending in Fintech India - UK Comparison

- Digital lending has emerged as a response to the demand for convenient financial services driven by technological advancements. It has evolved differently across regions, with the US and Europe embracing online lending platforms, while Africa and Asia have seen growth through mobile money platforms and digital banking.- Key drivers include filling the credit gap, online platforms, data analytics, smartphone adoption, and regulatory support.- Digital lending has revolutionized the loan origination process, improved access to credit, fostered financial inclusion, and stimulated innovation. It has also played a role in boosting economic growth and supporting small-scale enterprises. Future success depends on technology, regulations, and customer needs.- The UK digital lending market is thriving, projected to reach USD 4.0 billion by 2027. It encompasses peer-to-peer lending, crowdfunding, and invoice financing. Established banks like HSBC, as well as fintech lenders such as OakNorth, offer digital solutions.- Digital lending in India has witnessed significant growth due to various factors. The ease of obtaining loans through digital platforms has contributed to the flourishing digital lending ecosystem in the country.