Fintech PR
Loan Origination Software Market to Reach $12.2 Billion, Globally, by 2032 at 10.2% CAGR: Allied Market Research
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The global loan origination software market is experiencing growth due to several factors, including an increased in the adoption of AI, machine learning, and blockchain technologies, improved customer experience, and technological advancement in loan origination and management.
PORTLAND, Ore., Sept. 18, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Loan Origination Software Market by Component (Solution and Service), Deployment Mode (On-premises and Cloud), and End User (Banks, Credit Unions, Mortgage Lender and Brokers, NBFCs, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032″. According to the report, the global loan origination software industry was valued at $4.8 billion in 2022 and is projected to reach $12.2 billion by 2032, growing at a CAGR of 10.2% from 2023 to 2032.
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LOS stands for loan origination software. It’s a specialized software that automates and streamlines the process of applying for and approving loans for lending institutions. Banks, credit unions, and mortgage lenders are all using loan origination software to manage loan applications and approval. LOS acts as a central hub for managing everything from the initial application to the final loan approval.
Prime Determinants of Growth:
The global loan origination software market is experiencing growth due to several factors, including an increase in the adoption of AI, machine learning, and blockchain technologies, improved customer experience, and technological advancement in loan origination and management. On the other hand, the concerns regarding data security and compliance and the rise in stringent government rules & regulations hinder market growth. Moreover, the collaboration with FinTech’s to enhance ample opportunities for market growth in the future.
Report Coverage & Details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$4.8 billion |
Market Size in 2032 |
$12.2 billion |
CAGR |
10.2 % |
No. of Pages in Report |
309 |
Segments Covered |
Component, Deployment Mode, End-User, and Region |
Drivers |
Increased Adoption of AI, Machine Learning, and blockchain technologies |
Improved Customer Experience |
|
Technological Advancement in the Loan Origination and Management |
|
Opportunities |
Collaboration with FinTech’s |
Restraints |
Concerns regarding Data Security and Compliance |
Rise in Stringent Government Rules & Regulations |
COVID-19 Scenario:
- The COVID-19 pandemic significantly influenced the loan origination software market, causing both short-term disruptions and long-term shifts in the industry. As businesses faced economic uncertainty and financial constraints, the demand for loans surged, particularly for government-backed programs aimed at providing relief.
- Moreover, providers have chosen partnership and collaborative approaches to increase their market share or expand their product offerings. For instance, in September 2020, the Swedish Export Credit Corporation teamed with FIS to Digitalize Its Commercial Lending Platform. The FIS platform is expected to provide a single, end-to-end credit life cycle solution to enable a streamlined process for deal structuring, risk assessment, and execution.
Procure Complete Report (309 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/46hqzGG
The solution segment to maintain its leadership status throughout the forecast period-
Based on component, the solution segment held the highest market share in 2022, accounting for more than three-fifths of the global loan origination software HYPERLINK “https://www.alliedmarketresearch.com/press-release/loan-origination-software-market.html” HYPERLINK “https://www.alliedmarketresearch.com/press-release/loan-origination-software-market.html” HYPERLINK “https://www.alliedmarketresearch.com/press-release/loan-origination-software-market.html“industry revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to several important reasons and opportunities. As technology advances and the lending business evolves, loan origination software provides a variety of benefits and opportunities for both lenders and borrowers. However, the service segment is projected to manifest the highest CAGR of 12.0% from 2023 to 2032. Because online lenders and fintech firms are at the cutting edge of digital lending, their loan origination service is designed to provide a smooth online experience and speedy approvals. In addition, credit unions can use loan origination software to provide personalized lending options and services to their members, which are expected to positively impact market growth.
The on-premises segment to maintain its lead position throughout the forecast period-
Based on deployment mode, the on-premises segment held the highest market share in 2022, contributing to more than three-fifths of the global loan origination software market revenue, and is expected to maintain its lead position throughout the forecast period. Financial institutions frequently have legacy systems and databases that must work in combination with loan origination software. On-premise solutions can be more directly connected with current infrastructure, making data and feature sharing between systems easier. Therefore, integration with legacy system, customization, data control, and security of the on-premise segment drive the growth of the loan origination software market. However, the cloud segment is projected to manifest the highest CAGR of 11.7% from 2022 to 2032. This is due to the ease of implementation, scalability, and reduced need for in-house IT infrastructure. Furthermore, cloud-based loan origination software could interface more easily with other cloud-based technologies including customer relationship management (CRM), credit scoring, and document management systems. This integration improved the loan origination process’s efficiency and efficacy.
The banks segment to maintain its leadership status throughout the forecast period-
Based on end-user, the banks segment held the highest market share in 2022, accounting for around one-third of the global loan origination software market revenue, and is expected to maintain its leadership status throughout the forecast period. This is due to different types of banks focusing on various kinds of loans including personal loans, business loans, or mortgages that require specialized software to handle these specific processes. This demand drives the growth of the loan origination software market, providing tailored solutions for each banking segment. However, the mortgage lenders and brokers segment is projected to manifest the highest CAGR of 13.7% from 2022 to 2032. Owing to the ease of implementation, scalability, and reduced need for in-house IT infrastructure. Furthermore, the growth in the housing market and the increasing number of people looking for loans have created a higher demand for efficient processes. Loan origination software helps lenders and brokers handle this demand smoothly.
North America to maintain its dominance by 2032-
Based on region, North America held the highest market share in 2022, contributing to around two-fifths of the global loan origination software market revenue, and is expected to maintain its dominance during the forecast period. This is due to the increasing use of mobile devices, loan origination software that offers mobile-friendly interfaces and supports mobile applications can attract a wider customer base. These trends are creating a dynamic landscape for loan origination software in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 13.4% from 2023 to 2032. Owing to the rise of alternative lending models, such as peer-to-peer lending and digital platforms, created opportunities for specialized loan origination software. These platforms require versatile software that can accommodate unique underwriting criteria, integrate with various data sources for accurate risk assessment, and ensure compliance with diverse regulatory frameworks across the region.
Leading Market Players: –
- LoanPro, LLC
- LendingPad Corp.
- nCino, TurnKey Lender, Inc.
- ICE Mortgage Technology, Inc.
- Nelito Systems Pvt. Ltd.
- Bryt Software LCC
- Floify LLC
- Finastra
- Software Advice, Inc.
The report provides a detailed analysis of these key players in the global loan origination software market. These players have adopted different strategies such as expansion, merger, and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario
Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/loan-origination-software-market/purchase-options
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the loan origination software market forecast from 2022 to 2032 to identify the prevailing loan origination software market opportunity.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the loan origination software market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Loan origination software market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global loan origination software market trends, key players, market segments, application areas, and market growth strategies.
Loan Origination Software Market Key Segments:
By Deployment Mode:
- On-premise
- Cloud
By End-User:
- Banks
- Credit Unions
- Mortgage Lenders and Brokers
- NBFCs
- Others
By Component:
- Solution
- Service
By Region:
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Fintech PR
Board the TOKEN2049 Treasure Express With Bybit and Dive Into an $80,000 Prize Pool
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
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An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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Fintech PR
Bybit Expands Global Reach, Receives Formal Consent for Full Authorization in Kazakhstan
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
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LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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