The digital lending platforms market has witnessed tremendous growth over the past few years, particularly in the wake of the COVID-19 pandemic, which accelerated the shift towards online financial services. Digital platforms allow consumers and small businesses to apply for loans through easy-to-use apps and websites, simplifying the entire process by reducing paperwork and waiting times. According to market reports, the global digital lending market was valued at over USD 10 billion in 2023 and is expected to continue expanding at a CAGR of 20% over the next five years.