PUBLISHER: KBV Research | PRODUCT CODE: 1374178
PUBLISHER: KBV Research | PRODUCT CODE: 1374178
North America Loan Origination Software Market Size, Share & Industry Trends Analysis Report By Component (Solution, and Service), By Deployment Mode (On-premise, and Cloud), By End-User, By Country and Growth Forecast, 2023 - 2030
The North America Loan Origination Software Market would witness market growth of 9.4% CAGR during the forecast period (2023-2030).
By enhancing productivity, accuracy, security, and customer experience, increased use of AI, machine learning, and blockchain technologies in loan origination software has the potential to accelerate market growth significantly. Furthermore, automated underwriting systems powered by AI can handle loan applications quickly and accurately. These systems examine borrower information, credit history, sources of income, and other relevant factors to make wise lending decisions. This expedites the loan origination process, giving applicants quicker access to funds and reducing the manual labor required by lenders.
Furthermore, because AI and machine learning can detect trends that indicate fraudulent activity, these systems can analyze historical data and real-time transactions to detect irregularities that indicate probable fraud. This enhances the security of loan origination and protects against fraud for lenders and borrowers. Additionally, the market for loan origination software is growing due to technological developments in loan origination and management.
Loan origination software automates many manual tasks, lowering the time and effort required to process loan applications. This leads to faster loan approval and disbursement, improving customer experience. Automation minimizes the chances of errors in data entry and calculations, which is critical in the financial industry. This can lead to more accurate loan decisions and reduced compliance risk.
Financial institutions in North America are increasingly digitizing their lending processes to offer customers a more convenient and efficient experience. This includes online loan applications, electronic document submission, and automated underwriting. Loan origination software is instrumental in this digitization effort. According to ITA, the government owns seven development banks in Mexico and offers services to particular economic sectors. National Financial (Nacional Financiera or Nafinsa) and the National Bank for International Trade (Bancomext) are the most influential institutions. These factors collectively contribute to the rapid growth of the loan origination software market in North America, with financial institutions recognizing the need to embrace technology to meet the evolving demands of borrowers and remain competitive in the lending industry.
The US market dominated the North America Loan Origination Software Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,940.7 million by 2030. The Canada market is anticipated to grow at a CAGR of 11.8% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 10.9% during (2023 - 2030).
Based on Component, the market is segmented into Solution, and Service. Based on Deployment Mode, the market is segmented into On-premise, and Cloud. Based on End-User, the market is segmented into Banks, NBFCs, Mortgage Lenders & Brokers, Credit Unions, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Finastra Group Holdings Limited (Vista Equity Partners), Software Advice, Inc. (Gartner, Inc.), Floify LLC (Porch Group, Inc.), Bryt Software LCC, LendingPad Corporation, ICE Mortgage Technology, Inc. (Intercontinental Exchange, Inc.), Nelito Systems Pvt. Ltd., LoanPro Software, LLC, TurnKey Lender Inc., and nCino, Inc.
Scope of the Study
Market Segments covered in the Report:
By Component
- Solution
- Service
By Deployment Mode
- On-premise
- Cloud
By End-User
- Banks
- NBFCs
- Mortgage Lenders & Brokers
- Credit Unions
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Companies Profiled
- Finastra Group Holdings Limited (Vista Equity Partners)
- Software Advice, Inc. (Gartner, Inc.)
- Floify LLC (Porch Group, Inc.)
- Bryt Software LCC
- LendingPad Corporation
- ICE Mortgage Technology, Inc. (Intercontinental Exchange, Inc.)
- Nelito Systems Pvt. Ltd.
- LoanPro Software, LLC
- TurnKey Lender Inc.
- nCino, Inc
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Loan Origination Software Market, by Component
- 1.4.2 North America Loan Origination Software Market, by Deployment Mode
- 1.4.3 North America Loan Origination Software Market, by End-User
- 1.4.4 North America Loan Origination Software Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2021, Sep - 2023,Sep) Leading Players
- 4.4 Porter's Five Force Analysis
Chapter 5. North America Loan Origination Software Market, By Component
- 5.1 North America Solution Market, By Country
- 5.2 North America Service Market, By Country
Chapter 6. North America Loan Origination Software Market, By Deployment Mode
- 6.1 North America On-premise Market, By Country
- 6.2 North America Cloud Market, By Country
Chapter 7. North America Loan Origination Software Market, By End-User
- 7.1 North America Banks Market, By Country
- 7.2 North America NBFCs Market, By Country
- 7.3 North America Mortgage Lenders & Brokers Market, By Country
- 7.4 North America Credit Unions Market, By Country
- 7.5 North America Others Market, By Country
Chapter 8. North America Loan Origination Software Market, By Country
- 8.1 US Loan Origination Software Market
- 8.1.1 US Loan Origination Software Market, By Component
- 8.1.2 US Loan Origination Software Market, By Deployment Mode
- 8.1.3 US Loan Origination Software Market, By End-User
- 8.2 Canada Loan Origination Software Market
- 8.2.1 Canada Loan Origination Software Market, By Component
- 8.2.2 Canada Loan Origination Software Market, By Deployment Mode
- 8.2.3 Canada Loan Origination Software Market, By End-User
- 8.3 Mexico Loan Origination Software Market
- 8.3.1 Mexico Loan Origination Software Market, By Component
- 8.3.2 Mexico Loan Origination Software Market, By Deployment Mode
- 8.3.3 Mexico Loan Origination Software Market, By End-User
- 8.4 Rest of North America Loan Origination Software Market
- 8.4.1 Rest of North America Loan Origination Software Market, By Component
- 8.4.2 Rest of North America Loan Origination Software Market, By Deployment Mode
- 8.4.3 Rest of North America Loan Origination Software Market, By End-User
Chapter 9. Company Profiles
- 9.1 Finastra Group Holdings Limited (Vista Equity Partners)
- 9.1.1 Company Overview
- 9.1.2 SWOT Analysis
- 9.2 Software Advice, Inc. (Gartner, Inc.)
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 SWOT Analysis
- 9.3 Floify LLC (Porch Group, Inc.)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Recent strategies and developments:
- 9.3.4.1 Partnerships, Collaborations, and Agreements:
- 9.3.4.2 Product Launches and Product Expansions:
- 9.3.5 SWOT Analysis
- 9.4 Bryt Software LCC.
- 9.4.1 Company Overview
- 9.4.2 SWOT Analysis
- 9.5 LendingPad Corporation
- 9.5.1 Company Overview
- 9.5.2 Recent strategies and developments:
- 9.5.2.1 Partnerships, Collaborations, and Agreements:
- 9.5.3 SWOT Analysis
- 9.6 ICE Mortgage Technology, Inc. (Intercontinental Exchange, Inc.)
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Recent strategies and developments:
- 9.6.4.1 Partnerships, Collaborations, and Agreements:
- 9.6.4.2 Product Launches and Product Expansions:
- 9.6.5 SWOT Analysis
- 9.7 Nelito Systems Pvt. Ltd.
- 9.7.1 Company Overview
- 9.7.2 SWOT Analysis
- 9.8 LoanPro Software, LLC
- 9.8.1 Company Overview
- 9.8.2 Recent strategies and developments:
- 9.8.2.1 Partnerships, Collaborations, and Agreements:
- 9.8.3 SWOT Analysis
- 9.9 TurnKey Lender Inc.
- 9.9.1 Company Overview
- 9.9.2 Recent strategies and developments:
- 9.9.2.1 Geographical Expansions:
- 9.9.3 SWOT Analysis
- 9.10. nCino, Inc
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 SWOT Analysis
LIST OF TABLES
- TABLE 1 North America Loan Origination Software Market, 2019 - 2022, USD Million
- TABLE 2 North America Loan Origination Software Market, 2023 - 2030, USD Million
- TABLE 3 Partnerships, Collaborations and Agreements- Loan Origination Software Market
- TABLE 4 Product Launches And Product Expansions- Loan Origination Software Market
- TABLE 5 Goegraphic Expanssions- Loan Origination Software Market
- TABLE 6 North America Loan Origination Software Market, By Component, 2019 - 2022, USD Million
- TABLE 7 North America Loan Origination Software Market, By Component, 2023 - 2030, USD Million
- TABLE 8 North America Solution Market, By Country, 2019 - 2022, USD Million
- TABLE 9 North America Solution Market, By Country, 2023 - 2030, USD Million
- TABLE 10 North America Service Market, By Country, 2019 - 2022, USD Million
- TABLE 11 North America Service Market, By Country, 2023 - 2030, USD Million
- TABLE 12 North America Loan Origination Software Market, By Deployment Mode, 2019 - 2022, USD Million
- TABLE 13 North America Loan Origination Software Market, By Deployment Mode, 2023 - 2030, USD Million
- TABLE 14 North America On-premise Market, By Country, 2019 - 2022, USD Million
- TABLE 15 North America On-premise Market, By Country, 2023 - 2030, USD Million
- TABLE 16 North America Cloud Market, By Country, 2019 - 2022, USD Million
- TABLE 17 North America Cloud Market, By Country, 2023 - 2030, USD Million
- TABLE 18 North America Loan Origination Software Market, By End-User, 2019 - 2022, USD Million
- TABLE 19 North America Loan Origination Software Market, By End-User, 2023 - 2030, USD Million
- TABLE 20 North America Banks Market, By Country, 2019 - 2022, USD Million
- TABLE 21 North America Banks Market, By Country, 2023 - 2030, USD Million
- TABLE 22 North America NBFCs Market, By Country, 2019 - 2022, USD Million
- TABLE 23 North America NBFCs Market, By Country, 2023 - 2030, USD Million
- TABLE 24 North America Mortgage Lenders & Brokers Market, By Country, 2019 - 2022, USD Million
- TABLE 25 North America Mortgage Lenders & Brokers Market, By Country, 2023 - 2030, USD Million
- TABLE 26 North America Credit Unions Market, By Country, 2019 - 2022, USD Million
- TABLE 27 North America Credit Unions Market, By Country, 2023 - 2030, USD Million
- TABLE 28 North America Others Market, By Country, 2019 - 2022, USD Million
- TABLE 29 North America Others Market, By Country, 2023 - 2030, USD Million
- TABLE 30 North America Loan Origination Software Market, By Country, 2019 - 2022, USD Million
- TABLE 31 North America Loan Origination Software Market, By Country, 2023 - 2030, USD Million
- TABLE 32 US Loan Origination Software Market, 2019 - 2022, USD Million
- TABLE 33 US Loan Origination Software Market, 2023 - 2030, USD Million
- TABLE 34 US Loan Origination Software Market, By Component, 2019 - 2022, USD Million
- TABLE 35 US Loan Origination Software Market, By Component, 2023 - 2030, USD Million
- TABLE 36 US Loan Origination Software Market, By Deployment Mode, 2019 - 2022, USD Million
- TABLE 37 US Loan Origination Software Market, By Deployment Mode, 2023 - 2030, USD Million
- TABLE 38 US Loan Origination Software Market, By End-User, 2019 - 2022, USD Million
- TABLE 39 US Loan Origination Software Market, By End-User, 2023 - 2030, USD Million
- TABLE 40 Canada Loan Origination Software Market, 2019 - 2022, USD Million
- TABLE 41 Canada Loan Origination Software Market, 2023 - 2030, USD Million
- TABLE 42 Canada Loan Origination Software Market, By Component, 2019 - 2022, USD Million
- TABLE 43 Canada Loan Origination Software Market, By Component, 2023 - 2030, USD Million
- TABLE 44 Canada Loan Origination Software Market, By Deployment Mode, 2019 - 2022, USD Million
- TABLE 45 Canada Loan Origination Software Market, By Deployment Mode, 2023 - 2030, USD Million
- TABLE 46 Canada Loan Origination Software Market, By End-User, 2019 - 2022, USD Million
- TABLE 47 Canada Loan Origination Software Market, By End-User, 2023 - 2030, USD Million
- TABLE 48 Mexico Loan Origination Software Market, 2019 - 2022, USD Million
- TABLE 49 Mexico Loan Origination Software Market, 2023 - 2030, USD Million
- TABLE 50 Mexico Loan Origination Software Market, By Component, 2019 - 2022, USD Million
- TABLE 51 Mexico Loan Origination Software Market, By Component, 2023 - 2030, USD Million
- TABLE 52 Mexico Loan Origination Software Market, By Deployment Mode, 2019 - 2022, USD Million
- TABLE 53 Mexico Loan Origination Software Market, By Deployment Mode, 2023 - 2030, USD Million
- TABLE 54 Mexico Loan Origination Software Market, By End-User, 2019 - 2022, USD Million
- TABLE 55 Mexico Loan Origination Software Market, By End-User, 2023 - 2030, USD Million
- TABLE 56 Rest of North America Loan Origination Software Market, 2019 - 2022, USD Million
- TABLE 57 Rest of North America Loan Origination Software Market, 2023 - 2030, USD Million
- TABLE 58 Rest of North America Loan Origination Software Market, By Component, 2019 - 2022, USD Million
- TABLE 59 Rest of North America Loan Origination Software Market, By Component, 2023 - 2030, USD Million
- TABLE 60 Rest of North America Loan Origination Software Market, By Deployment Mode, 2019 - 2022, USD Million
- TABLE 61 Rest of North America Loan Origination Software Market, By Deployment Mode, 2023 - 2030, USD Million
- TABLE 62 Rest of North America Loan Origination Software Market, By End-User, 2019 - 2022, USD Million
- TABLE 63 Rest of North America Loan Origination Software Market, By End-User, 2023 - 2030, USD Million
- TABLE 64 Key Information - Finastra Group Holdings Limited
- TABLE 65 Key Information - Software Advice, Inc.
- TABLE 66 Key Information - Floify LLC
- TABLE 67 Key Information - Bryt Software LCC.
- TABLE 68 Key Information - LendingPad Corporation
- TABLE 69 Key Information - ICE Mortgage Technology, Inc.
- TABLE 70 Key Information - Nelito Systems Pvt. Ltd.
- TABLE 71 Key Information - LoanPro Software, LLC
- TABLE 72 Key Information - TurnKey Lender Inc.
- TABLE 73 Key Information - nCino, Inc
