The consumer lending industry has seen massive shifts in the past decade due to technology advances and ever-changing customer expectations. Internet and smart phone penetration has forced banks and financial institutions to shift from a traditional to a digital lending culture, with increasing emphasis on reducing the loan processing time. Emerging from the pandemic, governments worldwide have reduced interest rates and are providing economic stimuli to individuals through massive lending programs. Additionally, the rise of challenger and neo-banks has forced banks and traditional lenders to rethink their technology adoption strategies. There is an increasing need to transform lending systems to keep up with the pace of change. Banking and financial institutions are relying on digital lending platforms to modernize their processes, reduce operational costs, and improve customer experience.
The technology provider landscape for consumer loan origination is vibrant, with a mix of traditional and next-generation providers. Through investments in unified platforms that cater to multiple lending products and leverage next-generation technologies, these providers are supporting lenders in their digital transformation journeys for consumer lending.
In this report, we provide detailed profiles of 23 technology providers – in terms of their consumer Loan Origination System (LOS) products, market impact, and vision and capability – featured on Everest Group’s Consumer Loan Origination Systems – Products PEAK Matrix®. The research will help buyers select the right-fit technology provider for their needs, while technology providers will be able to benchmark themselves against their competitors.
Scope
Industry: banking
Geography: global
Contents
This report provides a snapshot of 23 leading LOS technology providers’ offerings and capabilities. Each technology provider profile includes the following details:
The consumer lending industry has seen massive shifts in the past decade due to technology advances and ever-changing customer expectations. Internet and smart phone penetration has forced banks and financial institutions to shift from a traditional…
