LaaS vendors have been packaging the latest top-notch lending platforms often with included expertise and operational services lately. The Market Leaders’ survey, conducted by LendIt Fintech, embraces the insights based on industry research and interactions with software providers.
In 2017, the market of lending software was estimated to be worth $2,615mn both in software and services. By 2024, it is expected that the market will reach $5,580mn. LaaS solutions are largely spread in the U.K. and the U.S., while Europe is only opening the possibilities of them because the regulatory framework is more constrained in the region.
The studies of LaaS impact reflect that expenditures for the acquisition, decisioning, and servicing loans can be reduced by up to 80%.
