Digital lending platforms are online platforms that enable individuals and small businesses to borrow and lend money directly to one another, without the need for a traditional financial institution as an intermediary. These platforms typically operate by connecting borrowers and lenders directly, and facilitating the transfer of funds between them. They may use various methods to assess the creditworthiness of borrowers and determine the terms of the loans, such as analyzing the borrower's financial history, credit score, and other factors. Some digital lending platforms may also offer additional services such as financial education or tools to help borrowers manage their loans. Overall, digital lending platforms aim to provide a more convenient, transparent, and cost-effective way for people to access credit.
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