From GlobeNewswire: 2024-07-07 03:00:00

The Global Loan Servicing Software Market is projected to grow from $2.9 billion in 2023 to $8.02 billion by 2033, with a CAGR of 10.71%. The software streamlines banking processes, enhances customer experience, and ensures compliance with regulations like CCPA and GDPR. It also helps institutions manage loans, monitor credit profiles, and reduce costs.

The software segment is expected to dominate the market due to its efficiency in eliminating manual errors and time-consuming processes. Cloud deployment is projected to hold the largest market share, offering benefits like improved customer satisfaction, document management, faster processes, and scalability. Large enterprises are predicted to be the major end-users, benefiting from increased visibility and faster customer service.

North America is anticipated to lead the global market due to the growing banking sector and fintech industry. Asia Pacific is expected to grow rapidly, driven by the adoption of digital loan services and economic activities leading to increased demand. Key players in the market include Black Knight Inc, Fiserv Inc, and Oracle Corp. Recent developments include Sagent launching a mortgage software platform to enhance servicing for lenders and banks.



Read more at GlobeNewswire: Global Loan Servicing Software Market Size To Worth USD