The convergence of AI, cloud, embedded finance, and evolving regulatory demands is significantly transforming the lending landscape. As traditional lending approaches face mounting pressure from digital-first players and rising borrower expectations, financial institutions are reimagining their platforms and processes to enable real-time, autonomous, and inclusive credit delivery. This report explores Everest Group’s latest view on digitizing the lending life cycle. We present an end-to-end framework that spans key lending processes such as origination, servicing, and collections, and how Systems of Execution (SoE), agentic AI, and modular digital architectures are reshaping them. We also evaluate how document management, credit decisioning, and legacy system transformation are emerging as high-impact subprocesses ripe for automation. Through a detailed analysis of enterprise modernization priorities, emerging technology enablers, and region-specific adoption patterns, the report delivers a forward-looking view on how lenders are transforming their operations to meet evolving customer, compliance, and competitive demands. It also presents a comparative analysis of 15 leading technology providers across consumer, corporate, and mortgage lending segments – drawing insights from real-world case studies and platform innovations. As the industry pivots toward just-in-time, embedded, and hyper-personalized lending, this study helps lenders and technology partners align strategies, accelerate execution, and unlock operational agility.

The lending operations market has faced considerable disruptions in recent years due to high interest rates and other macroeconomic factors, leading to reduced consumer activity. In response, providers are innovating to meet local market demands and stay competitive. High-growth business segments, such as mortgage, commercial lending, and auto lending, are key focus areas. Providers are differentiating themselves by forming strategic partnerships and acquiring firms to enhance their capabilities and accelerate time-to-market for new offerings. Investments in digital lending solutions and advanced tools are streamlining the lending lifecycle, enhancing the overall customer experience. The Lending Services Operations Provider Compendium 2025 provides accurate, comprehensive, and fact-based snapshots of 31 lending operations service providers. Each profile offers a comprehensive picture of the provider’s services suite, scale of operations, recent developments and investments, technology solutions, and delivery locations. The report also analyzes the global lending services operations provider landscape. Scope Industry: banking and financial services Geography: global Contents In this report, we feature 31 lending operations service provider profiles and include: Lending operations service suite and scale of operations: key leaders, services suite, FTEs, and recent developments and investments Lending client portfolio: key clients and recently announced contracts, lending operations revenue split by geography and buyer size, and FTE split by process and delivery location Global lending delivery locations: details of key delivery locations worldwide Proprietary solutions and partnerships   Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

Banks worldwide are raising interest rates to combat inflation, shifting away from the low-rate environment of the past decade. This change has reduced loan demand and strained profitability while intensifying competition with FinTechs, changing consumer expectations, and stricter regulations. To adapt, banks are investing in technology to streamline operations, automate processes, and improve customer experiences. Lending technology providers are supporting these efforts by developing advanced platforms and integrating next-generation technologies to improve the lending process. This compendium provides comprehensive and fact-based snapshots of 21 consumer Loan Origination Systems (LOS) providers. Each profile offers a detailed overview of the provider’s vision for consumer LOS offerings, product offerings, capabilities, buyer size and scale, presence, investments, and case studies. The report will enable providers to benchmark their capabilities against their peers and empower enterprises to assess providers based on their capabilities. Scope Industry: Banking and Financial Services (BFS) Geography: global This assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading technology and IT service providers, client reference checks, and an ongoing analysis of the consumer LOS product market Contents In this report, we: Classify providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Offer an overview of the providers’ consumer LOS product offerings and strategies Examine consumer LOS case studies Membership(s) Banking Information Technology Sourcing and Vendor Management

The lending industry is significantly transforming after two years of elevated interest rates across mortgage, commercial, and retail products. Recent rate cuts, coupled with easing inflation, have provided relief to borrowers, paving the way for renewed growth. This report explores the forces reshaping the industry and highlights opportunities in an increasingly competitive and dynamic landscape. The report examines the impact of macroeconomic factors on the lending services industry, focusing on how fluctuating interest rates and economic stabilization are influencing borrower behavior and lending strategies. Key emerging trends include the rise of new lenders, technology advances, increasing delinquencies, and growth opportunities on the horizon. The lending Business Process Services (BPS) market is rapidly evolving as providers deploy advanced tools and customized solutions to address shifting client needs. With a detailed analysis of the lending operations provider landscape, the report profiles key providers and their market positioning. By offering forward-looking insights, it equips stakeholders with the knowledge to capitalize on emerging opportunities and confidently navigate the future of lending operations. Scope Industry: banking and financial services Geography: global Contents In this report, we examine the: Lending BPS market Key macroeconomic factors affecting the lending BPS industry Focus areas for lenders Emerging trends among lending BPS providers Lending operations’ provider landscape Future outlook for lending operations Membership(s) Banking Business Process Sourcing and Vendor Management

The financial landscape is shifting due to aggressive rate hikes and intensified competition from FinTechs. In response, the consumer loan origination systems industry is prioritizing innovation to maintain bank profitability and adapt to changing consumer demands. In this report, we analyze 24 providers in the consumer loan origination systems industry featured on Everest Group’s proprietary PEAK Matrix® framework based on their capabilities and offerings. This report analyzes how banks streamline lending operations through technology investments that enhance efficiency and reduce costs. The report examines lending technology providers’ role in supporting these initiatives by building platforms incorporating next-generation technologies, thus enhancing the lending experience. The analysis covers how these technologies help banks manage profitability and regulatory compliance challenges while offering personalized customer services to navigate the competitive financial technology landscape. Scope Industry: BFS Geography: global This assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading technology providers, client reference checks, and an ongoing analysis of the open banking IT services market Contents In this report, we: Examine key trends in the consumer loan origination systems industry Position the providers on Everest Group’s proprietary PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants Evaluate the consumer loan origination system providers’ landscape Compare providers’ key strengths and limitations Membership(s) Banking Information Technology Sourcing and Vendor Management

The lending services operations market has experienced significant turmoil in recent years due to high interest rates and other macroeconomic factors, leading to reduced consumer activity. Consequently, providers are continuously innovating to meet local requirements and maintain a competitive edge. Consumer demand is shifting toward younger, digitally savvy borrowers prioritizing experience and convenience over cost. To serve this evolving demographic, service providers are differentiating themselves by leveraging their partnership ecosystems and recent acquisitions to enhance their capabilities and accelerate time-to-market for new offerings. Investments in digital lending solutions and tools are helping streamline the end-to-end lending life cycle and improve the overall customer experience. In this report, we examine the lending services operations market and its provider landscape. The report assesses 30 providers and positions them on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants. Each profile comprehensively describes the provider’s vision, delivery capabilities, market success, and key strengths and limitations. The study will assist key stakeholders, such as banks, lenders, financial institutions, service providers, and technology providers, to understand the the lending operations service provider market’s current state. Scope Industry: banking and financial services Geography: global In this report, we study vertical-specific lending operations. We have not covered horizontal business processes such as finance and accounting, human resources, procurement, and contact center Contents This report features 30 lending services operations service provider profiles and includes: Each provider’s relative positioning on Everest Group’s PEAK Matrix® for lending services operations Providers’ market impact, vision, and capability assessment across key dimensions Sourcing considerations for enterprises Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

The lending industry is evolving rapidly, with a focus on technology to enhance efficiency and user experience, while reducing costs. AI and predictive analytics are streamlining approval processes and offering deeper customer insights. In response to challenges such as rising delinquencies, lenders are implementing flexible online payment tools. Additionally, innovative products such as green mortgages and Buy Now Pay Later (BNPL) services address modern consumers’ demands. In recent times, the adoption of API-driven ecosystems is enhancing customer experiences, particularly in mortgage and auto financing. Providers are partnering with technology leaders and FinTechs, with a focus on themes such as generative AI and alternative data in underwriting to stay at the forefront of the lending industry’s transformation. This Provider Compendium features comprehensive and fact-based snapshots of 28 providers mapped on the Lending IT Services PEAK Matrix® Assessment 2023. Each profile offers a comprehensive view of the provider’s vision and strategy, practice size and scale, scope of services and solutions offered, investments, partnerships, case studies, and strengths and limitations. The Compendium will enable providers to benchmark their capabilities against their peers, while enterprises will be able to assess the providers based on their desired set of capabilities. Scope Industry: Banking and Financial Services (BFS) Geography: global The assessment is based on Everest Group’s annual RFI process for calendar year 2023, interactions with leading technology and IT services providers, client reference checks, and ongoing analysis of the lending IT services market Contents In this report, we evaluate 28 lending IT service providers’ profiles, including: Key trends in the lending space Classification of the providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework A summary dashboard on the providers’ market impact and vision and capabilities An overview of the providers’ lending IT services business – vision, scope of services offered, delivery footprint, practice size and scale, and presence across enterprise segments and geographies An overview of the providers’ lending IT services investments, key solutions/IP, and partnerships Key lending IT services case studies Strengths and limitations Membership(s) Banking Information Technology Outsourcing Excellence

The lending industry is currently undergoing a significant transformation, propelled by the increasing demand for technological integration to enhance operational efficiency, user experience, and cost-effectiveness. This shift is largely driven by the widespread adoption of advanced cognitive tools, such as AI and predictive analytics, enabling lenders to improve automated approval rates and gain deeper insights into customer behavior. Additionally, the rise in delinquencies, stemming from a growing disparity between wage growth and expenses, is prompting lenders to embrace more user-friendly online tools for flexible payments. In response to these challenges, lenders are leveraging cloud computing and alternative data to revolutionize underwriting and data management processes. The introduction of innovative products such as green mortgages and Buy Now Pay Later (BNPL) options addresses modern consumer demands within a framework aimed at consolidating products for improved efficiency. Moreover, the lending ecosystem is increasingly becoming API-driven, facilitating real-time integrations with third parties and offering flexible customer experiences without the need for costly in-house functionalities. This trend is evident across various sectors, with mortgage lending investing in technology and alternative products, and auto financing transitioning toward subscription and shared ownership models. Particularly in commercial and SME lending, there is a noticeable shift toward streamlined online financing experiences and platform modernization. In this report, we analyze 28 lending IT service providers and position them on Everest Group’s proprietary PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants. Scope Industry: Banking and Financial Services (BFS) Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading technology and IT services providers, client reference checks, and an ongoing analysis of the lending IT services market Contents In this report, we: Examine key trends in the lending IT services industry Classify 28 lending IT service providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Discuss the IT service providers’ competitive landscape for lending IT services in BFS Assess providers’ key strengths and limitations Membership(s) Banking Information Technology Sourcing and Vendor Management

Open banking has evolved and extended its benefits to a wider range of financial products, including mortgages, wealth management, insurance, savings, and capital markets. It has also added a cross-industry dimension, giving rise to concepts such as embedded finance, buy now pay later, and super-apps. This enables banks to become more customer-centric and deliver hyper-personalized products, allowing customers greater visibility into their financial lives. Adoption and implementation are rapidly increasing, and open finance is expected to revolutionize traditional banking models, leading to innovative models such as marketplace banking. Additionally, regulators worldwide are implementing regulations and data sharing initiatives to synergize banks and FinTechs, leading to open data. This allows customers to share data across multiple industries, which, in turn, enables enterprises and providers to build new solutions, establish partnerships, and merge and acquire to strengthen their market position. This compendium provides detailed profiles of 26 Banking and Financial Services (BFS) IT service providers featured on the Open Finance IT Services PEAK Matrix® Assessment 2022. Each profile offers a comprehensive overview of the provider’s vision and strategy, practice size and scale, delivery footprint, scope of services and solutions offered, investments, partnerships, case studies, and strengths and limitations. The compendium will enable providers to benchmark their capabilities against their peers, while enterprises will be able to assess the providers based on their desired set of capabilities. Scope Industry: BFS Geography: global Our assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading technology and digital services providers, client reference checks, and an ongoing analysis of the open finance IT services market Contents In this report, we evaluate 26 service provider profiles and include: Key trends in the BFS open finance space Providers’ classification as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework A summary dashboard on market impact and vision and capabilities An overview of the providers’ open finance IT services business – vision, scope of services offered, delivery footprint, practice size and scale, and presence across enterprise segments and geographies An overview of the providers’ open finance IT services investments, key solutions/IP, and partnerships Providers’ open finance IT services case studies Key strengths and limitations Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management

The concept of open banking is no longer restricted to payment services. Open finance has widened its scope to include mortgages, wealth management, insurance, savings, and capital markets. These use cases are giving rise to concepts such as embedded finance, buy now pay later, and super-apps, which will allow banks to deliver hyper-personalized products and become more customer-centric. Open finance can disrupt traditional banking models and give rise to innovative models such as marketplace banking. Additionally, regulators across geographies are implementing regulations and data sharing agendas to synergize banks and FinTechs. This will give rise to open data, which will allow customers to share data across multiple industries. In turn, enterprises and providers are building new solutions, establishing partnerships, and undertaking mergers and acquisitions to strengthen their position in the marketplace. In this report, we assess 26 Banking and Financial Services (BFS) IT service providers’ vision & capability and market impact and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants. Each provider profile provides a comprehensive picture of its service focus, key Intellectual Property (IP) / solutions, domain investments, and case studies. Scope: Industry: BFS Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading IT service providers, client reference checks, and an ongoing analysis of the open finance IT services market Contents: In this report, we: Classify 26 BFS IT service providers as Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Examine key trends in the BFS open finance space Study IT service providers’ competitive landscape for open finance solutions Assess the key enterprise sourcing considerations (strengths and limitations) for each provider Membership(s) Banking and Financial Services Information Technology Sourcing and Vendor Management