Lend.In Recognized as the Top Vendor in 'Emerging Category' in the Commercial Loan Origination Report by Aite Group
The current lending scenario in Indian market has evolved with new-age fintech providing cutting-edge digital lending platforms. Bank and lending institutions are leveraging digital technologies to serve modern customers. Some reasons aiding this market are the government initiatives toward a digital economy, rise of smartphone users, internet penetration and presence of large middle-class population which is an important segment looking for several types of loan schemes. Enterprises are leveraging technologies to digitalize loan process primarily for its benefit to reach a vast majority of the audience but is the road to digitalizing complete loan process smooth?
While Digital Lending itself is becoming big, P2P lending is a strong emerging trend. In this blog, I want to analyze if P2P lending will emerge strong in India? If so then in what form or structure? Who are advantaged to gain initial successes? As per the Reserve Bank of India, Peer to Peer Lending (aka P2P Lending) is a form of crowd-funding used to raise loans which are paid back with interest. Currently, Indian P2P has more than 30 players, and the market size is slated to cross USD 4 Bn to 5 Bn by 2023. The VC activity in the sector is also high with around USD 221 Mn flowing in the last two years. Naturally, RBI issued final guidelines in Oct’17 for P2P Lending in order to better regulated and also make it trustworthy.
Every year in November leading analyst firm Gartner hosts the largest gathering of CxOs at the Gartner Symposium/ITxpo in Goa and this year was no different either. We witnessed some of the Leading Analysts showcase how technology is going to shape up the future of enterprises. The 4-day Symposium was completely based in and around the themes of Artificial Intelligence, APIs and IoT. Here are my top 5 key takeaways from these Keynote sessions and presentations: