The report provides insights on the decision making journey of the Indian loan seeker and lists the imperatives for industry participants in the lending ecosystem to capitalise on this opportunity.

A Boston Consulting Group (BCG) report suggests that digital lending in India will become a $1 trillion opportunity in the next five years.

The report elaborates the growth opportunities in the Indian retail lending market and digital lending globally. It provides insights on the decision making journey of Indian loan seekers and lists imperatives for industry participants in the lending ecosystem to capitalize on this opportunity.

According to the report, four fundamental drivers that pushed the space are internet giants that changed the way consumers behave, rapid growth in technological advances including the proliferation of smartphones and consequent increase in the consumption of data. Also the digital market lending prospered under supportive regulatory conditions across the globe.

The lenders have created innovative models such as peer-to-peer (P2P) lending and "value +" lending, fueled by demand from messaging service providers, telcos, cab aggregators and online marketplaces. These factors played out in India as well.

Click here to read full story https://www.moneycontrol.com/news/business/startup/digital-lending-to-become-1-tn-opportunity-in-india-over-next-5-years-bcg-2740031.html