Digital lending strategy in an emerging economy

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Abstract

As digital technologies continue to reshape the global financial landscape, digital lending has emerged as a rapidly growing alternative to traditional borrowing, particularly in developing economies (Sultan et al., 2023; Blend, 2022). This study investigates the key determinants influencing individuals’ decisions to adopt digital lending in Thailand. Employing a quantitative research design, data were collected from 691 Thai respondents using convenience sampling. Binary logistic regression was applied to examine the relationships between demographic, financial, and perceptual variables and the likelihood of engaging in digital lending. The results indicate that specific personal financial conditions, such as being a student or having high monthly expenses, significantly decrease the likelihood of adopting digital lending. Conversely, having existing debt obligations and perceiving digital platforms as user-friendly are positively associated with interest in digital lending. Importantly, information awareness emerged as a critical factor in promoting informed financial decisions, highlighting the significance of financial literacy and transparent communication. This study contributes to a deeper understanding of digital lending behavior in emerging markets and offers practical insights for financial institutions and policymakers. It emphasizes the need for targeted financial education initiatives and user-centered platform design to encourage broader adoption and foster consumer trust in the digital financial ecosystem.

Keywords: Digital Lending, Adoption, Digital Financial Ecosystem

Authors’ individual contribution: Conceptualization — T.K. and P.L.; Methodology — T.K., C.P., and P.L.; Validation — T.K., C.P., P.L., and K.J.; Formal Analysis — T.K., C.P., P.L., K.J., and P.M.; Investigation — T.K., C.P., P.L., K.J., and P.M.; Resources — T.K., C.P., P.L., K.J., and P.M.; Data Curation — T.K., P.L., and K.J.; Writing — Original Draft — T.K., C.P., P.L., K.J., and P.M.; Writing — Review & Editing — P.L.; Visualization — T.K., C.P., P.L., and K.J.; Supervision — T.K. and P.L.; Project Administration — T.K., C.P., and P.L.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: D14, G21, G53, O33

Received: 09.02.2025
Revised: 19.04.2025; 19.06.2025; 24.11.2025
Accepted: 17.12.2025
Published online: 19.12.2025

How to cite this paper: Kraiwanit, T., Pimsen, C., Limma, P., Jangjarat, K., & Moolngearn, P. (2026). Digital lending strategy in an emerging economy. Corporate and Business Strategy Review, 7(1), 8–20. https://doi.org/10.22495/cbsrv7i1art1