Loan Origination Software Market Brief Overview by Research Cosmos

Loan Origination Software Market Analysis Size, Growth rate and Overview:

Loan Origination Software Market was valued at USD 1980 million in 2017 and is expected to reach almost USD 3150 million by the end of 2022, growing at a CAGR of around 4.20% over the predicted period.

Loan origination is a process in which a borrower applies for a new loanand a lender processes that application. It includes all the steps from taking a loan application up to disbursal of funds or the declining of the application until the loan is fully paid off. Loan origination software is a specialized software being used by financial services organizations. It is responsible for managing everything from the pre-qualification stage to funding the loan. The lending software includes loan origination software (LOS), loan management software (LMS), loan analytics software (LAS) and the loan servicing software (LSS).

Umpteen vendors who provide lending software services such as electronic data and document capture, automated underwriting, e-signatures among other shave come into picture, which has increased the growth of the market. In addition, increasing adoption of SaaS-based loan servicing apart from on-premise services along with rising incidence of mergers and acquisitions across the globe is likely to boost the market demand.

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Loan Origination Software Market Key Drivers, Challenges, and Opportunities:

The loan origination software (LOS) segment accounted for the largest market share in 2017 and the trend is likely to continue over the forecast period. Loan origination software aids in achieving efficiency in loan life cycle management by automating and streamlining the entire origination process.Lending software caters to digital platforms used to automate the loan process. These platforms are known to automate various components of loan process including origination, underwriting, servicing and collection. With the growing number of mortgage applications because of the growing corporate structure, the demand for loan origination software in financial institutions is on an increase.

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Loan Origination Software Market – Regional Presence:

The major markets for this segment are North America, Asia Pacific, Europe and Latin America.North America dominates the global market and is expected to maintain its dominance over the next few years. The USA is estimated to emerge as the premium market in the region due to the presence of several key players. The region is set to offer opportunity for lending software market on account of rising automation in the financial institutions and expected to propel at a healthy CAGR over the forecast period. Asia Pacific, owing to its growing construction, IT and finance businesses is expected to show strong growth too.

Some of the Key Players Profiled in this Loan Origination Software Market Report are:

Some of the big names in this market are Wipro, Calyx Software, Fiserv, Byte Software, FICS, Tavant Tech, ISGN Corp, Black Knight, etc.

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