Report Code: A15124 | Pages: NA | Mar 2023 | 2022 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Loan Origination Software Market
Request Now !Loan origination software enables small and medium-sized financial institutions such as community banks, credit unions, or regional banks to manage the digital lending process. It permits users to create and manage lending campaigns, loan applications, reviews, and other applications. It also includes lending evaluation, automated checks, and underwriting, identity verification, separate digital loan files for every application, and compliance management. It enables enterprises to configure, deploy, and implement changes in decision-making as per the scorecards, data analysis, and market trends. The need to automate the entire process that involves the collection, processing and evaluation of loans is expected to drive the growth of the market. It is developed for banks, credit unions, and auto lenders, allowing them to configure rules, streamline processes, and increase operational efficiency at all levels. Therefore, the surge in demand for loan origination software is expected to boost the growth of the loan origination software market in the upcoming period.
The global loan origination software market is segmented on the basis of component, deployment, end-user and region. Based on component, the market is divided into solution and services. In terms of deployment, the market is categorized into on-premise and cloud. On the basis of end-user, the market is divided into banks, credit unions, mortgage lenders, brokers and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global loan origination software industry include LeadSquared, Finastra, Fiserv Inc., ICE Mortgage Technology Inc., Calyx Technology Inc., Comarch SA, Pegasystems Inc., Byte Software, Wipro Limited and Black Knight Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global loan origination software market.
Market Scope and Structure Analysis
Report Metric | Details |
 Market size available for years |  2020–2030 |
 Base year considered |  2020 |
 Forecast period |  2021–2030 |
 Forecast units |  Value ($) |
 Segments covered |  Component, Deployment, End-User and Region |
 Companies covered | Major players analyzed include LeadSquared, Finastra, Fiserv Inc., ICE Mortgage Technology Inc., Calyx Technology Inc., Comarch SA, Pegasystems Inc., Byte Software, Wipro Limited and Black Knight Inc. |
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COVID-19 Scenario Analysis
Top Impacting Factors
Increased adoption of AI, machine learning and block-chain-based technologies and the rise in stringent government rules and regulations are driving the growth of the market. In addition, increased adoption of loan origination software across different industry verticals propels the growth of the market. Â However, a strict negative framework that negatively affects loan companies may hamper the growth of the market. Contrarily, increased consumer demand for convenient banking services is expected to provide lucrative opportunities to the market in the upcoming years.
Increased Adoption of AI, Machine Learning & Block-Chain Based Technologies
Businesses globally are starting to see the benefits of AI, machine learning, and blockchain technology. AI, machine learning, and blockchain are some of the most recent trending technologies that are expected to enhance digital lending platforms and provide new growth opportunities. Furthermore, the power of these technologies allows for a simple, quick, and transparent loan-funding process. Moreover, loan applications can be processed in seconds using AI and machine learning algorithms, making the approval process truly scalable. Furthermore, blockchain technology is assisting in the decentralization of the lending process. Therefore, the surge in the adoption of AI, machine learning, and block-chain based technology is expected to drive the growth of the loan origination software market during the forecasted period
Rise in Stringent Government Rules & Regulations
Despite the challenges of maintaining compliance and adhering to regulations in the digital lending platform market, due to the sensitivity of financial data, most organizations adhere to global compliance regulations. Furthermore, the threat landscape is constantly changing, and an increase in cyber-attacks has resulted in massive losses for financial institutions. As a result, governments all over the world are increasingly enacting new regulations to protect economic data.
Moreover, the government implemented an upgraded version of the markets in financial instruments directive, to protect traders and investors, increase transparency in financial transactions, and lower trading costs. Therefore, the rise in stringent government rules and regulations is expected to drive the growth of the loan origination software market during the forecasted period.
Key Benefits of the Report
Questions Answered in the Loan Origination Software Market Research Report  Â
Loan Origination Software Market Report Highlights
Aspects | Details |
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By Component |
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By Deployment Model |
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By Enterprise Size |
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By End-User |
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By Region |
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Key Market Players | LeadSquared, Finastra,, Fiserv Inc., ICE Mortgage Technology Inc., Calyx Technology Inc., Comarch SA, Pegasystems Inc., Byte Software, Wipro Limited and Black Knight Inc. |
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