Fintech PR

Loan Origination Software Market to Reach $12.2 Billion, Globally, by 2032 at 10.2% CAGR: Allied Market Research

Published

on

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.   


Request PDF Brochure: 
https://www.alliedmarketresearch.com/request-sample/15493

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

Advertisement

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

Advertisement

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

Advertisement

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.   

Advertisement

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)

Similar Reports We Have on BFSI Industry:

Personal Loans Market By Type (P2P Marketplace Lending and Balance Sheet Lending), Age (Less than 30, 30-50, and More than 50), Marital Status (Married, Single, and Others), and Employment Status (Salaried and Business): Global Opportunity Analysis and Industry Forecast, 2021-2030

Loan Management Software Market by Component (Solution, Service), by Deployment Mode (On-Premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), by Application (Cash and Liquidity Management, Risk Management, Collateral Management, Loan Origination and Servicing, Others), by End User (Banks, Credit Unions, NBFCs, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Mortgage Lending Market by Type of Mortgage Loan (Conventional Mortgage Loans, Jumbo Loans, Government-insured Mortgage Loans, Others), by Mortgage Loan Terms (30-year Mortgage, 20-year Mortgage, 15-year Mortgage, Others), by Interest Rate (Fixed-rate Mortgage Loan, Adjustable-rate Mortgage Loan), by Provider (Primary Mortgage Lender, Secondary Mortgage Lender): Global Opportunity Analysis and Industry Forecast, 2021-2031

Investment Banking Market by Type (Mergers and Acquisitions, Debt Capital Market, Equity Capital Market, Syndicated Loans), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises): Global Opportunity Analysis and Industry Forecast, 2023-2032

Commercial Banking Market by Products (Commercial Lending, Treasury Management, Project Finance, Syndicated Loans, Capital Market, Others), by Application (Healthcare, Construction, Transportation And Logistics, Media And Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

About Us:

Advertisement

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.

Contact:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com 
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com 
Blog: https://bfsi-allied.blogspot.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/loan-origination-software-market-to-reach-12-2-billion-globally-by-2032-at-10-2-cagr-allied-market-research-301930737.html

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version