Study of AI and Data Analysis in Digital Lending Apps

Abstract

The digital lending industry has experienced exponential growth, driven by the increasing demand for faster and more accessible financial solutions. Artificial Intelligence (AI) and Data Analytics play a transformative role in modernising traditional lending practices, fostering efficiency, accuracy, and customer-centric services. This paper explores the application of AI and data analytics in digital lending, focusing on areas such as credit assessment, fraud detection, and operational optimisation. The findings highlight the critical role these technologies play in driving innovation while addressing challenges like data security and algorithmic bias.
The rapid proliferation of digital lending apps has transformed the financial services landscape, offering consumers faster, more accessible, and paperless credit solutions. This study investigates consumer perception of digital lending apps, focusing on factors such as trust, convenience, security, transparency, and user experience. By analysing survey data from diverse demographics, the research identifies key drivers influencing adoption and satisfaction, alongside barriers such as data privacy concerns and hidden charges. The findings provide insights into consumer preferences and apprehensions, offering valuable recommendations for app developers and policymakers to enhance user trust and optimise the digital lending experience.