The Force Redefining Global Mortgage Lending
Technology is steadily reshaping the mortgage sector, shifting a once slow, paper-driven process into a faster and more transparent borrowing experience. Today’s digital tools are removing many of the long wait times and piles of documentation that traditionally frustrated both lenders and applicants.
Although a mortgage remains one of the largest financial obligations most individuals undertake, the application process has lagged behind the convenience seen in other digital services—where people can order a ride or stream music with a single tap. This growing gap highlights how critical modernization has become for the industry.
“For lenders, this isn’t just a customer service issue—it’s a critical business challenge,” according to nCino.
Mortgages continue to anchor retail banking, accounting for up to 80% of retail credit and roughly 40% of total credit portfolios across various Western markets. For independent mortgage banks and building societies, dependence on this segment is even stronger.
With global mortgage lending valued at approximately $1.56 trillion in 2024 and projected to rise to $2 trillion, enhancing borrower satisfaction and operational efficiency is no longer optional—it’s essential for competitiveness and growth.
Author Summary
Digital transformation is rewriting the global mortgage market, driving efficiency and customer focus in a sector long burdened by slow processes and outdated systems.