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Key Statistics for Cloud-Based Lending & Its Impact on Loan Management

The cloud-based lending industry has dramatically transformed how loans are processed, managed, and serviced with advanced automation solutions that can be accessed from anywhere. As banks, private lenders, CDFIs, and NBFCs increasingly adopt the convenience of managing loans remotely, the impact on loan management has become profound.

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Key Statistics for Cloud-Based Lending & Its Impact on Loan Management

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  1. Key Statistics for Cloud-Based Lending & Its Impact on Loan Management www.brytsoftware.com

  2. The cloud-based lending industry has dramatically transformed how loans are processed, managed, and serviced with advanced automation solutions that can be accessed from anywhere. As banks, private lenders, CDFIs, and NBFCs increasingly adopt the convenience of managing loans remotely, the impact on loan management has become profound. This impact is apparent in the key statistics mentioned below, so let’s explore.

  3. 01 Cloud-based Loan Origination & Servicing • Cloud-based Loan Origination and Servicing Software market crossed $8 billion in 2024. • It is projected to grow to $12 billion by 2030, with a CAGR of 10.2%.

  4. 02 Largest Market for Cloud-based Loan Management Software • North America and Europe collectively fuel the growth of the Loan Management Software market with over 50% share. • Asia Pacific is right behind North America and Europe, with about one-third share in this market.

  5. 03 Adoption of Cloud-based Lending Solution in the Banking Sector • 84% of surveyed banking executives said they already use some form of cloud-based lending tool to streamline their operations. • Of the remaining 16%, 44% of executives confirmed that their bank plans to move to the cloud.

  6. 04 Popularity of On-Premise v/s Cloud-Based Deployment Model • While on-premise solutions offer greater control over data, cloud-based deployment is projected to have the largest growth. • Cloud-based lending solutions are projected to experience the highest growth rate, with a CAGR of 20.8% in the upcoming years.

  7. 05 Most Popular Cloud-computing Platforms • Amazon Web Services (AWS) and Microsoft Azure remain the most popular cloud computing platforms. • Wells Fargo confirmed its plans to move its data centers to Microsoft and AWS, leveraging Microsoft to create innovative lending solutions.

  8. Sources: verifiedmarketreports.com prnewswire.com techreport.com newsroom.wf.com

  9. www.brytsoftware.com Ready to Take Off? Experience the difference loan management software can make. The future of loan servicing is here

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