Digital Lending: Its Advantages And Problems.

Abstract

High consuming world and non-stop usage of information communication tools in every sphere are inevitable. In the period of modern technology and fast changing demand of customers, the need for digitization of the banking sphere is ever increasing. The article outlines the significance of digital lending in modern era of customer’s new banking experience. Some of significant benefits of lending digitally are shown and advantages for both banks and consumers are provided in the article. In addition, some problems appearing during the lending process and obstacles clients face in developing countries in the example of Uzbekistan, some solutions to tackle away the problems are suggested.