Why are app-based digital lenders picking up? What's the future?
Technology has taken over every aspect of our lives. Be it communication, transportation, or banking, technology and digitization have completely revolutionized the workings in every field. Financial institutions have not been an exception to this revolution. Post 2016, the lending market has been booming in India and there is no stopping to it whatsoever. The major urban population has shifted to mobile based banking facilities including getting personal loans or for the transaction of money on a daily basis. In this article, we will be talking about digital lending apps and why are they picking up. We will also look at what the future holds and if there are any challenges that they bring along. Read on to know everything about digital lending apps and what the future prospects are. What is Digital Lending? Before diving right into what is the future of digital lending and why is it picking up in India, let’s discuss what is digital lending. As the name suggests, digital lendin