Loan Origination Software Market Scope
Loan Origination Software is meant to provide loan or credit services on the go to the consumers. Changing socio-economic conditions and advent of digital platforms meant users want to avail the banking service on the go. These software manages various lending tasks such as origination, underwriting, closing and documentation for contract services, title companies, credit unions, government agencies and private lenders.
According to AMA, the Global Loan Origination Software market is expected to see growth rate of 11.9% and may see market size of USD4.37 Billion by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Loan Origination Software market throughout the predicted period.
Ellie Mae (United States), Calyx Software (United States), FICS (United States), Fiserv (United States), Byte Software (United States), Mortgage Builder Software (United States), Mortgage Cadence (Accenture) (United States), Wipro (India), Tavant Tech (United States), D+H Corp (Canada), Lending QB (United States), Black Knight (United States), ISGN Corp (United States) and Pegasystems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Juris Technologies (Malaysia), Axcess Consulting Group (Australia) and Turnkey Lender (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Loan Origination Software market by Type (On-demand (Cloud) and On-premise ), by Application (Banks, Credit Unions, Mortgage Lenders & Brokers and Others) and Region with country level break-up.
On the basis of geography, the market of Loan Origination Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In November 2018, Calyx Software a leading provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders and brokers, announced its cloud-based software Path, dynamic mortgage loan origination software (LOS), is now integrated with LodeStar Software Solutions, a leading settlement services data provider.
- Rise in deployment of big data and cloud services in banking sector
- Increasing developments and investment in both developed and developing countries
- Pre-determined decision rules used to evaluate the qualifying criteria
- Adoption of automation technology for speeds up the lending processes and facilitates consistency in decisions
- Changing regulatory frameworks adversely affecting lending businesses