[Astute Analytica Press Release] We have conducted a study to understand the state of the loan origination software market in 2022.
Demand for Loan Origination Software (LOS) in the region is driven by financial inclusion, increasing demand for personal loans, industrial credit for industrialization due to various reasons, and legislation supporting the growth of the Loan Origination Software (LOS) market. and code enforcement.
Survey period: June 13 to October 24, 2022
Research agency :
Survey contractor: Astute Analytica Co., Ltd.
Survey target: The survey was conducted with 890 leaders from organizations of all sizes around the world.
Number of valid responses: (890 people)
Survey method: Telephone survey of 300 people, Internet survey of 590 people Survey Respondents: The survey was conducted across companies based on revenue. [Image 1
Survey results :
Question: Which component has more demand in the loan origination software market?
By component, the solution sub-segment accounts for 79.26% share in 2021. Within the solutions sub-segment, loan proposals will have the highest market value in 2021.
Q: Which company size has the highest share in the loan origination software market?
Based on companies, large companies continue to dominate the market, accounting for the highest market value in 2021, meeting working capital requirements and high demand for loans to expand their operations.
Question: How is the loan origination software market segmented by deployment? Loan execution software is primarily deployed in the cloud due to its low initial investment, no licensing fees, and availability to any internet-connected device.
Q: Which end user has the highest share of the loan origination software market? The use of Loan Origination System (LOS) software is changing the way lenders, brokers, and financial institutions process loan
applications. These software platforms help streamline workflows, increase cost efficiency, improve communication, reduce operational costs, and minimize errors. By end-user, banks are the largest users of this software, accounting for 45.24% global market share in 2021. [Image 5
Q: What are the key factors driving the Loan Origination Software market? Loan Origination Software (LOS) facilitates the modernization of banking: Digital lending has grown in popularity among financial institutions after COVID-19. Today, banks must adapt and evolve their digital platforms to accommodate customers who avoid face-to-face and phone contact and prefer mobile and online channels for lending services. A digital lending platform fits nicely into your business strategy and investments. Among them, core technologies such as cloud, big data/analytics, mobility, and social media enable financial
institutions to manage relationships and conduct business transactions more effectively.
Reduced operating costs:
Shorten the creation process with automation, document management, and workflows.
An integrated end-to-end submission process based on a single system of record eliminates the need to re-enter data.
Enforcement of underwriting rules, procedures and documentation requirements Survey conclusions:
At many banks, data is stored primarily on paper or in Excel spreadsheets for various account officers and credit analysts. This directly hinders the credit team’s efficiency and results. A Loan Origination System (LOS) is therefore an end-to-end solution that provides a centralized database that presents data to relevant bank staff in a way that supports effective decision-making. Data comes from a variety of sources, including customer data (demographics, banking history, market data, etc.), relationships (subsidiaries, parent-child, spouse, etc.), collateral (type, value, insurance, etc.) and financial (limits, balance sheet, profit and loss, ratios, etc.) People now prefer mobile engagement. Digital platforms enable individuals and businesses to enter data into the Loan Origination System (LOS) at the appropriate stage in the loan origination workflow and complete the entire application process entirely online. Read more: https://bit.ly/3uAa6fR
Astute Analytica is a global analytics and advisory firm that has built a strong reputation in a short period of time for the tangible results it has delivered to its clients. We pride ourselves on producing unparalleled depth and accuracy of estimates and forecasts for our highly demanding clients in a variety of industries. We have a list of satisfied and repeat customers from various sectors such as Technology, Healthcare, Chemicals, Semiconductors and FMCG. These customers come to us from all over the world. This is because it analyzes the complex business environment, existing and emerging opportunities by segment, technology formations, growth projections, as well as available strategic options. In short, it’s a complete package. It is a highly qualified and prioritized team of business analysts, economists, consultants and technology experts.
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