Market Analysis
published on Sep 02, 2022
Report Overview:
Andy Efstathiou briefly introduces his 2022 global market analysis report on 'Transforming Mortgage & Loan Services'. The full report consists of 111 pages.
Who is this Report for:
NelsonHall’s 'Transforming Mortgage & Loan Services' report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the lending and banking industry
- Vendor marketing, sales, and business managers developing strategies to target service opportunities within the lending and banking industry
- Financial analysts and investors specializing in the lending and banking industry sector.
Scope of this Report:
The report analyzes the global market for mortgage and loan services and addresses the following questions:
- What is the current and future market for mortgage and loan services?
- What is the size and growth of the mortgage and loan services market by market segment?
- Within mortgage and loan services, which processes are emerging strongly?
- What are the market segments for mortgage and loan services and their characteristics? What are the drivers, benefits, and inhibitors for each segment? What are vendor capabilities by segment?
- What technologies and platforms are being utilized and what are the implications by market segment?
- What are vendor challenges and critical success factors by market segment?
- How vendors are positioned within each mortgage and loan services market segment?
- Additional topics include contract lengths; pricing models; partnerships; acquisitions; delivery center locations and the use of offshoring; vendor targeting by client size, geography, and industry.
Key Findings & Highlights:
The M&L industry is adapting to new business conditions where they need to increase agility to deal with cyclicality and launch new products in a shorter time frame. Data management has moved to the center of what is needed to address consumer needs and new customer acquisitions. Operations need to be able to scale up/down with higher accuracy and a very low cost of delivery.
M&L services vendors are moving from engagements providing CX to engagements reskilling employees, providing data management, and opening platforms Vendors are focusing on three activities:
- Transforming workforce skills from origination to default management and from IT support to transformation
- Improving data management
- Open platforms to enable an ecosystem of partners to deliver greater value to customers.
Tier 1 lenders are looking for increasing operational agility with process automation and migration to the cloud. Smaller lenders require productized solutions and BPS/BPaaS services. All managers are increasing their data management and process automation buy.
In the future, clients will continue to focus on data management and migrate to a hybrid multi-cloud. Operational delivery will become agile to support reducing time-to-market and support volume fluctuations. Services vendors will expand their presence with regional/local lenders by entering new markets and productizing offerings. They will also expand their work with specialty and commercial lenders using automation as a hook. Finally, services vendors will support tier one lenders and services vendors with cloud migration and reduced time to market .