Digital retail lending in the country could reach $ 1 trillion over the next five years, with annual digital disbursements witnessing a five-fold increase, said a report. Digital retail lending has seen explosive growth both globally and in the country, a report by the Boston Consulting Group (BCG) said on Thursday, adding while the juggernaut was led by fintechs, traditional lenders have now joined the fray. It said technological advancements will transform the face of front-end consumer experience, as well as enable full-scale digitization of operations. Fueled by these shifts, BCG expects lending firms to witness a dramatic shift in power bases. "A confluence of these factors could drive over $ 1 trillion being disbursed digitally in the coming five years with annual digital disbursements increasing fivefold from current levels," the report said.
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