The global loan servicing software market will grow at a CAGR of 14% during the period 2017-2021, says Technavio.
Technavio has announced its latest market research report on the global loan servicing software market, under its enterprise application portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like FICS, Fiserv, Mortgage Builder, Nortridge Software, and Shaw Systems Associates.
According to Ishmeet Kaur, a lead analyst for enterprise application research at Technavio, “Numerous vendors in the market are offering loan servicing software that supports multiple loan origination and processing process across end-users, eliminating vendor dependency and internal IT staff involvement. Loan servicing software enables lending organizations to minimize financial risk exposure at the same time increases their operational competence.”
Loan servicing software also supports a wide variety of loan industries and lending products, which include peer-to-peer lending, microfinance, SME lending, retail lending, payday loans, POS financing, credit unions, auto lending, mortgage lending, and medical financing. Such factors are increasing the adoption of loan servicing software.
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Emergence of SaaS-based loan servicing
One of the major trends gaining traction in the market is the emergence of SaaS-based loan servicing software. SaaS-based loan servicing software allows loan originators to manage the entire lending cycle from origination to maturity from any location with a secure Internet connection. SaaS-based loan servicing software is cost effective as the installation and maintenance of such solutions does not require any extra cost.
Increase in M&A
With the presence of numerous small vendors that mostly operate in niche markets, there is an ample scope for mergers and acquisitions. Being a technology driven market, large vendors use the superior technology at their disposal to enter the market. Moreover, the intense competition to provide integrated solutions is expected to compel the vendors to increase their acquisitions.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Loan Servicing Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Analytics and Risk Compliance Solutions for Banking Market 2016-2020
- Global Online Financing Platform for SMBs Market 2016-2020
- Global Consumer Credit Market 2016-2020
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