About Lending Analytics Solution
Lending Analytics Solution aids in attracting the proper consumers and increasing client acquisition. It also aids in the effective management of delinquencies and thorough loan servicing. Lenders may keep their most lucrative clients by improving the loan life-cycle value. The advanced automated models such as neural networks help the institutions make accurate data driven lending decisions. The growing adoption of cloud computing based digital solutions is expected to drive the growth in the lending analytics solution market. Similarly, the increasing volumes of lending and rising number of loan defaults is also leading to higher demand for lending analytics solution. Globally, North America dominates the lending analytics solution market.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The growing adoption of sophisticated digital solutions by financial institutions and the rising integration of artificial intelligence, machine learning as well as other tools has led to growth of the lending analytics solutions market. The lending analytics solutions enable institutions to target better set of people as potential clients and make accurate lending decisions thus reducing the loan default rate. Geographically, North America is the leading lending analytics solution market. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Convercent (United States), Credit Karma (United States), Medallia (United States), Fiserv, Inc. (United States), Finastra Limited (United Kingdom), Square, Inc. (United States), BE-terna GmbH (Austria), Refinitiv (United States), Nucleus Software Exports Limited (India) and Newgen Software (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Earnix Ltd. (Israel), Ellie Mae, Inc. (United States) and Wizni, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Lending Analytics Solution market by and Region.
On the basis of geography, the market of Lending Analytics Solution has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Banks will boost the Lending Analytics Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. Large Organisations will boost the Lending Analytics Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solution will boost the Lending Analytics Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. On Cloud will boost the Lending Analytics Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Deployment of Artificial Intelligence based Models
Market Growth Drivers:
Growing Adoption of Digital Solutions by Businesses, Increasing Integration of Machine Learning and Analytics Market and Advancements in Sophisticated Programs Offering Better Accuracy
Challenges:
Lack of Highly Skilled Professionals required for Analytics in Developing Countries and Rising Threat of Cyber Attacks and Data Breaches Incidents
Restraints:
Glitches in the Software Solutions
Opportunities:
Credit Unions and Smaller Loan Associations can present an Opportunity to Expand
Market Leaders and their expansionary development strategies
In October 2023 saw Equifax join forces with Microsoft Azure to develop a cloud-based lending analytics platform designed for scalability and flexibility, targeting smaller lenders.
In November 2023, Trumid Introduced "Credit Data Marketplace" This platform democratizes access to credit data by connecting lenders and data providers, facilitating data-driven loan decisions across the industry.
Key Target Audience
Lending Analytics Solution Developers and Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.