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Allied Market Research

Loan Management Software Market by Component (Software and Service), Deployment Model (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), Application (Loan Origination, Decision Automation, Portfolio Management, Risk & Compliance Management, Business Process Management, and Others), and End User (Banks, Credit Unions, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

A08185
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Feb 2021 | 154 Views
 
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Loan Management Software Market Outlook - 2027

Globally, the loan management software market is experiencing substantial growth and is expected to expand, owing to rise in penetration of lending institutions across the globe. Loan management software is a technological service platform, which is designed to help borrowers and lenders to manage loan process. It involves different functions such as creating new loans, analyzing loan documentation data, process reports and statements, and manage interest rates and annual percentage rates. Furthermore, loan management software provides an overview of all relationships and facilities under management. It removes manual processing such as data collection, duplication of effort, printing and mailing of papers. Loan management software eliminates costs and generates efficiency in workflows.

Market scope and structure analysis:

Market size available for years

2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($)

  Segments covered

Component, Deployment Model, Enterprise Size, Application, End User and Region

  Regions covered

North America (U.S.  and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed includeTurnkey Lender Inc., Finastra, Fiserv, Inc., Ellie Mae, Inc., LendingQB, FIS, Jack Henry & Associates, nCino, defi SOLUTIONS, FLOIFY LLC

 

COVID-19 scenario analysis:

  • COVID-19 has created interruptions of business in all industries globally. Banks and financial institutions have been unwilling accept new loans due to increased government restrictions and increasing non-performing assets. 
  • Furthermore, lock-down and shut-down problems have forced banks and financial institutions to physically prevent themselves from collecting loans. 
  • As a result, several institutions have begun processing loan repayments via electronic platforms. The circumstances led to a higher than average use of the loan processing platforms.
  • Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:
  • Rise in adoption of loan management software by banks and financial institution to ease up the lending process drives the growth of the market. In addition, stringent government regulation for loan processing and surge in need to provide enhance customer experience by fintech industry fuels the growth of the market. However, high cost associated with the software and lack of technical expertise hampers the growth of the market. Furthermore, surge in adoption of blockchain, machine learning and artificial intelligence technology in loan compliance management software is expected to provide lucrative opportunity for the market

The global loan management software market trends are as follows:

Integration of Artificial Intelligence (AI) into loan management software:

Although conventional lending structures have focused entirely on credit ratings, outdated procedures and tiresome paperwork thus to reduce the loan processing time many companies have introduced AI to change the way retail borrowers are evaluated for new loans. The National Business Research Institute and Narrative Sciences of India have stated that about 32 % of financial service provider companies now have started utilizing AI technology. One of the major issue financial institutions faces is evaluating a customer for loan approval without credit score, which could lead to credit loss to lender. AI has introduced approaches to these challenges through predictive analytics, digital footprints, complex algorithms and data sets. This technology lets lending institutions focus on a loan applicant's online identity to evaluate credit worthiness by analyzing online purchasing patterns, account statements of utilities and mobile bills, or even accounts on social media.

Surge in demand for loan management software:

Rising adoption of loan management software among the end user due to the easy access to solutions and the opportunity to carry out whatever activities they want easily from anywhere across globe. With consumer preferences changing, lenders have begun focusing on enhancing customer service through technology. For instance, according to a research report around 61% of the loan documents were already digitally generated in the year 2019. Furthermore, lenders were looking customizability, consistency and the ability to quickly gather the right information and a solution that increases recognition of the needs of customers. Moreover, loan management software eliminates human errors by proper authentication with data measurements and thus increasing overall customer support. All such factors had led financial institutions and banks to adopt loan management software.

Key segments covered:

Segments

Sub-segments

  Component

  • Software
  • Service

  Deployment Model

  • On-Premise
  • Cloud

  Enterprise Size

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

 

  Application

 

  • Loan Origination
  • Decision Automation
  • Portfolio Management
  • Risk & Compliance Management
  • Business Process Management
  • Others

  End User

  • Banks
  • Credit Unions
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global loan management software market along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Loan management software market share.     
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global loan management software market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed market analysis based on the present and future competitive intensity of the market. 

Questions answered in Loan management software market research report:    

  • Who are the leading market players active in the loan management software market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the loan management software market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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