Digital lending lets banks and credit unions to process loan applications quickly without taking on excess risk. This efficiency makes smaller loans more valuable, opening up opportunities to reach new customer types. Here are three:
One: Micro-borrowers: Micro-loans are rising as a way to reach underserved markets – such as users in emerging economies or low-income areas with limited access to banks.
Two: Small businesses: The SMB sector is among the fastest growing segments for digital lending, with market expansion at a compound annual growth rate of twenty-one point five percent for the five years up to 2021.
Three: Retail borrowers: Point-of-sale lending is gaining momentum quickly as digital loans let consumers get credit directly as they purchase goods.
With new opportunities on the horizon, GDS Link can empower firms to leverage analytics to create revenue opportunities