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Commercial Lending Technology in the US Market: Springing Back to Life After the Y2K FreezeProduct Type: Market Research ReportPublished by: TowerGroup Published: April 2000 Product Code: R301-0013 Description After slow growth in the last two years, the market for commercial lending systems is now gaining momentum. Midtier US financial institutions, in particular, are currently engaging in the RFP process to select a lending system to complement the evolving dynamics of their growing commercial lending business. Without exception, the commercial lending business of all vendors profiled in this Research Note has been impacted negatively by the Y2K lockdown, as banks elected to delay their purchasing decisions until 2000. In the interim, larger vendors have focused on meeting the growing demand from investment banks and global banks.
The much-needed wind in the sails of the loan system market is propelling the primary vendors to bring new products to an expanding market. High-end vendors are devising solutions to appeal to smaller institutions in terms of price, and middle market vendors are actively packaging added functionality to be able to compete in top-tier institutions. TowerGroup expects the Internet to be the primary R&D focus of the vendor community in the next 1-2 years. While no commercial loan vendor has yet offered a compelling strategy for integrating Internet technology into the commercial lending process, all are currently dedicating significant financial and employee resources to this endeavor. This first vendor to offer a fully browser-based loan system will offer an attractive value proposition to the Internet-hungry marketplace. Table of Contents HighlightsIntroduction Market Trends Vendor Review Conclusion |
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