PUBLISHER: Allied Market Research | PRODUCT CODE: 1179746
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179746
Loan servicing software is a specialized tool that helps lenders automate post disbursement operations such as collections, collateral tracking, and amortization. The tool helps manage customer requests, information, and queries through a customer portal. Many of these tools are available as a module or as an integrated part of loan management or origination solutions.
Loan servicing software helps to increase the revenue for the company by notifying loan servicers about outstanding payments or approaching due dates and facilitates follow up, online payments, & offline collections. In addition, it helps in ensuring accuracy in calculating repayment, interest, and the principal amount. Moreover, loan servicing software reduces turnaround time. Therefore, these are some of the factors that propel the growth of loan servicing software. However, high cost of installing loan servicing software is a major factor limiting the growth of loan servicing software market. On the contrary, advances in technology and adoption of artificial intelligence & machine in the lending industry are expected to provide lucrative growth opportunities in the coming years.
The loan servicing software market is segmented on the basis of component, deployment mode, enterprise size, application, end user, and region. By component, it is segmented into software and services. By deployment mode, it is bifurcated into on-premises and cloud. By enterprise size, it is segregated into large enterprises and small & medium-sized enterprises (SMEs). By application, the loan servicing software market is fragmented into commercial loan software, loan servicing software, and loan origination software. The commercial loan software is further sub segmented into credit analysis software, tracking & exception management systems, customer relationship software (CRM), and others. The credit analysis software is further divided into credit spread risk, concentration risk, and others. By end user, the loan servicing software market is segmented into banks, credit unions, mortgage lenders & brokers, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the loan servicing software market such as Applied Business Software, Inc., Bryt Software LLC, C-Loans, Inc., Emphasys Software, FICS, Fiserv, Inc., GOLDPoint Systems, Inc., Grants Management Sysytem (GMS), Graveco Software Inc., LoanPro, Margill, Nortridge Software, LLC, Q2 Software, Inc., Shaw Systems Associates, LLC, The Constellation Mortgage Solutions, Neofin (SECURITY), and TurnKey Lender. These players have adopted various strategies to increase their market penetration and strengthen their position in the loan servicing software industry.
Key Benefits For Stakeholders
By Component
By Deployment Mode
By Enterprise Size
By Application
By End User
By Region