Global Digital Mortgage Solution Market Overview:
Digital Mortgage Solution is referred to as a technology utilization in order to create a mortgage that is produced, allocated, and stored digitally to reduce manual processes, human error, and costs. In other words, it is an end-to-end process including origination, underwriting, disbursement, post disbursement, and customer service, through digital mode to improve borrower experience across the business value chain. This digital mortgage solution allows lenders to build lean, highly scalable, and customer-centric operations. Different stringent guidelines and rising costs, force traditional mortgage lenders to adopt a new business model which is based on technology and digital solution. Also, a wide customer base demands expertise, transparency, and offerings in mortgage deals which are achievable only with the assistance of digital mortgage solutions. Therefore, digital mortgage solutions enable the rapid processing of borrower data and documents at the origination stage with enhanced data security.
- Increase in the adoption of digital solutions in mortgage across the globe
- Increase in demand of customers for efficient, transparent, and error-free mortgage process
- High cost of technology infrastructure development and implement
- Increase in risk of security-related concerns
- Development of a seamless digital journey for customers in emerging economies
- Increased customer acquisition and retention, while improving automation and the customer experience
- Development of standard guidelines which encourage the digital mortgage solution
- Increase implementation of digital mortgage solutions in emerging nations
The leading organization in the market are making new collaborations and strategic partnerships to deliver a seamless process and simple procedure to their customer and enhance their experience. Also, to avail competitive advantages companies are adopting new business models which are based on technology that provide errorless, transparent, and effective processes.
Some of the key players profiled in the report are Roostify (United States), Ellie Mae (United States), TCS (India), Streamloan (United States), Blend (India), Wipro (India), SimpleNexus (United States), Salesforce (United States), Infosys (India) and Cloudvirga (United States). Additionally, following companies can also be profiled that are part of our coverage like WebMax (United States), Preclose (United States), Blue Sage Solutions (United States) and ICE Mortgage Technology (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Digital Mortgage Solution market by 2026.
Latest Market Insights:
On 28 March 2019, Floify, the next-generation mortgage point-of-sale system, announced that its end-to-end loan platform is now available for use with Ellie Mae’s Encompass digital mortgage solution. The seamless, two-way integration allows lenders to access Encompass directly through Floify to drive quality and efficiency in the loan origination process.
On 24 Sept 2020, Santander Bank announced that it is partnering with Roostify on its digital home lending platform to provide a more convenient way for customers to apply for the Bank's home lending services. The faster and easier-to-use digital solution enables Santander to process and close loans more efficiently with fewer manual touches. This allows Santander Bank to communicate more effectively with customers, driving quality and efficiency in the loan origination process.
What Can be Explored with the Digital Mortgage Solution Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Digital Mortgage Solution Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Digital Mortgage Solution
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital Mortgage Solution market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Digital Mortgage Solution market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Banks, Financial Institutions, Industrial Associations, Government Regulatory Bodies, Private Research Institutions, IT Organizations and Small Mortgage Companies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Digital Mortgage Solution Market?
The Digital Mortgage Solution market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Digital Mortgage Solution Market?
Top performing companies in the Global Digital Mortgage Solution market are Roostify (United States), Ellie Mae (United States), TCS (India), Streamloan (United States), Blend (India), Wipro (India), SimpleNexus (United States), Salesforce (United States), Infosys (India) and Cloudvirga (United States), to name a few.
3. What trending factors would impact Digital Mortgage Solution Market growth most?
"Increasing consumer confidence in digital product
" is seen as one of major influencing trends for Digital Mortgage Solution Market during projected period 2020-2026.