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Market Overview
A digital mortgage platform provides services t- handle the borrowing process. Digital Mortgage Platform aims at simplifying, automating, and standardizing the processes of formation, underwriting, quality assurance, and customer support. This enables borrowers t- access increased customer service, reduce costs of origination, servicing and enforcement, increase topline production, improve portfoli- quality, and increase operational efficiencies. The digital mortgage platform has been started t- get rid of manual processes, remove the paper, minimize labor costs, and simply give the buyer what they want (a mortgage t- buy a car) with as little human interference and efficiently. Rising costs, strict regulations, and increasingly digital-savvy user base forced the conventional mortgage lenders t- switch t- digital mortgage platform.
Market Highlights
Global Digital Mortgage Platform Comprehensive Market is anticipated t- grow from USD XXXX billion in 2019 t- USD XXXX billion in 2030, at a CAGR of XX%. The overall growth in the market is supported by the following reasons. Banks are embracing such frameworks massively, as they offer streamlined tracking and improved operational efficiencies. It als- makes it easier for the lenders t- apply for loans and provides them clarity, which in effect results in considerable time savings. The automated design of online lending platforms offers a more efficient approach t- providing financing solutions for lenders and borrowers, thereby reducing uncertainty and raising the chances of successful lending approval. Additionally, huge investments from different organizations and a wide customer base are major growth drivers of this market. Nevertheless, in the wake of sophisticated cyber-attacks, a lack of digital literacy among the underdeveloped countries, and growing concerns about data protection and privacy may hinder the market growth. Moreover, improved customer experience, advancement in technology, declining operational costs, and enhanced regulatory compliance are likely t- enhance the market share and total revenue s- generated.
Global Digital Mortgage Platform Comprehensive Market Opportunity Analysis
Source: Fatpos Global
Recent Highlights
In October 2018, Fiserv entered int- a partnership with Dade Systems, t- develop and bid Software as a Service-based or individual banking service t- their business world clients.
In September 2019, Temenos acquired Kony, US-based digital banking Software as a service-based company t- accelerate Temenos Infinity, a digital banking product.
In February 2019, Ellie Mae launched Ellie Mae's Digital Lending Platform t- ensure quick loans, minimize the time in processing and sanctioning process, and mount loan acquisition capacity.
In May 2019, Roostify teamed up with Docutech t- enable potential lenders t- buy a home through a digital mortgage platform.
Global Digital Mortgage Platform Comprehensive Market: Segments
Business process management Segment t- retain the largest market share during the forecast period, i.e., 2020-2030
The global digital mortgage platform market is segmented int- solutions and services, by component. The solution segment is further segmented int- Loan Origination, Business Process Management, Decision Automation, Loan Management, Risk and Compliance Management, Loan Servicing, Portfoli- Management, and Others. The Digital automation segment grew at a CAGR of XX% in 2019 as it provided an automated decision process in the approval or rejection of loans. However, the Business Process Management segment is projected t- experience higher growth in the forecast period as for the digital lending organizations, business process management solutions are essential as they improve the productivity of business processes by maximizing the use of software and services. Also, the demand for business process management solutions in the financial industry has increased due t- the fact that loan organizations and financial institutions are shifting towards solutions that can handle the complexities of complex business processes.
Source: Fatpos Global
Risk Assessment segment t- drive the market in the forecasted period with a CAGR of XX%
The market is bifurcated, based on services, int- Design and Implementation, Training and Education, Risk Assessment, Integration and Consulting, Support, and Maintenance. Services are required throughout and after the digital mortgage solutions are incorporated. Companies offering consultants, project management panels, and digital mortgage delivering experts wh- are able t- assess and manage the risks of the borrowing organizations are likely t- grow in the forecast period.
Deployment mode t- be driven by Cloud segment
On the basis of Deployment mode, the Digital Mortgage Platform Comprehensive market is segmented int- cloud and on-premises. The cloud segment is anticipated t- propel the growth of the market due t- easy accessibility, wide usage, and worldwide popularity, during the forecast period.
Peer-to-peer lender segment t- grow at the highest rate during the forecast period
On the basis of end-user, the market is divided int- Banks, Insurance, Financial Services, Credit unions, Peer-to-peer lending, and others. The peer-to-peer lending segment is expected t- outshine other segments due t- increasing popularity among the customers and the entry of large financial institutions in this segment.
Global Digital Mortgage Platform Comprehensive Market: Drivers and Restraints
Given the difficulty of maintaining adherence and enforcing regulations on the digital lending platform, most companies obey global compliance regulations due t- the weakness of financial data. The threat world is continuously facing is the rising cyber-attack instances which have resulted in huge losses for financial companies. Governments worldwide are therefore gradually implementing new compliances t- safeguard the economic data.
Restraints: Stickiness t- traditional lending methods
Worldwide, the banks and other financial institutions have introduced various advanced digital lending technologies t- handle their lending processes. But there are several organizations that prefer conventional lending methodologies, which als- time-consuming, labor-intensive, and repetitive. They are not able t- switch t- modern methods because of their fixed customer base and traditional ways of credit underwriting. In addition, the lack of awareness about digital lending in underdeveloped regions is als- responsible for the less efficient and advanced digital lending processes.
Global Digital Mortgage Platform Comprehensive Market: Region
The global Digital Mortgage Platform Comprehensive market is segmented on the basis of regional analysis int- five major regions. These include North America, Latin America, Europe, Asia-Pacific, and rest of the world is classified as Middle-East and Africa.
North-America is projected t- be the fastest-growing region with a CAGR of XX%
During the forecast period, North America is projected t- hold the largest market share. It is attributed t- the presence of a large number of vendors of digital mortgage platforms and the earlier recognition and transition t- those solutions and services by the huge business organizations in the region. Additionally, the advancement in technology and the high rate of adoption of digital lending platforms are expected t- boost the overall market growth.
Source: Fatpos Global
The global Digital Mortgage Platform Comprehensive market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- UK, Germany, France, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia-Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- India, China, South Korea, Malaysia, Japan, Indonesia, Australia, New Zealand and Rest of Asia-Pacific
The Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- North Africa, Israel, GCC, South Africa and Rest of Middle East and Africa
Key Players
Ellie Mae
Company overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
Fiserv
RupeePower
Temenos Group
Abrigo
Roostify Inc
Newgen Software Technologies Ltd
Pegasystem Inc
Wizni Inc
Others
The Global Digital Mortgage Platform Comprehensive Market Report als- contains an analysis on:
Digital Mortgage Platform Comprehensive Market by segment:
By Component
Solutions
Loan Origination
Business process Management
Decision Automation
Loan Management
Risk and Compliance Management
Loan Servicing
Portfoli- Management
Others
Services
Design and Implementation
Training and Education
Risk Assessment
Integration and Consulting
Support and Maintenance
By Deployment
Cloud
On-Premises
By End-User
Banks
Insurance
Financial Services
Credit Unions
Peer-to-peer lending
Others
By Region
North America
Latin America
Europe
Asia-Pacific
The Middle East and Africa
Digital Mortgage Platform Comprehensive Market Size
Digital Mortgage Platform Comprehensive Market Dynamics
Supply and Demand
Current Issues/trends/challenges
Competition and Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Global Digital Mortgage Platform Comprehensive Market
Which segment is anticipated t- hold the largest market share?
At what CAGR is the market anticipated t- grow between 2020 and 2030?
Wh- are the key players in the Global Digital Mortgage Platform Comprehensive Market?
What could be the challenging factors in the growth of Global Digital Mortgage Platform Comprehensive Market?
What are the growth drivers for the Global Digital Mortgage Platform Comprehensive Market?