NAICS 5222Industry group · 4-digitnational market1 market record

Non-depository credit intermediation

SoftwareMortgage Origination & Servicing Systems

This industry group comprises establishments, both public (government-sponsored enterprises) and private, primarily engaged in extending credit or lending funds raised by credit market borrowing, such as by issuing commercial paper and other debt instruments, and by borrowing from other financial intermediaries. — Statistics Canada, NAICS 2022A

Establishments · CanadaA: 2,191
Under 10 employeesA: 82%
Establishments · USA: 46,884
Employment · USA: 686,560
Payroll · USA: $74.1B

Size and shape

How many businesses there are and how small they are. Fragmentation is the first thing an entrant — or anyone selling software into this industry — needs to know, and it is one of the few things that is actually measured.

Canadian establishments by number of employeesA

1–41,14752%

5–965030%

10–191487%

20–491477%

50–99452%

100–199211%

200–499241%

500+90%

Of 2,191 Canadian establishments with employees, 82% have fewer than ten — an industry of very small operators.

Where they areA

Ontario86840%

Quebec39718%

British Columbia33315%

Alberta26412%

Largest four provinces by establishment count. Establishments with employees only — sole operators with no payroll are not in this table, so in trades and personal services the true number of businesses is higher.

How many new establishments are still tradingA

Finance and Insurance, US · opened 2020

85.2%

1 year

65.1%

3 years

53.8%

5 years

38.4%

10 years

opened 2015

Measured, not forecast: the share of US establishments opening in one year that were still active later. It counts good operators and bad ones together, which is exactly why it is the honest answer to “what are the odds”. It is for the whole sector rather than this market, and the ten-year figure comes from an older cohort because no younger one has reached ten years.

How businesses here compete

The structural profile of subsector 522, which every industry beneath it inherits. This is analyst judgment from how the subsector is organised — not research into this industry, and not a measurement.

national competitionhigh capitalUNVERIFIEDinherited from 522 Credit intermediation and related activities

Deposit-taking requires a charter. Non-bank lending and brokerage are the reachable end, and they depend on funding lines from the institutions they compete with.

Who sets the price: Interest-rate markets and prudential regulators.
The software it runs on: Core banking, loan origination and servicing, compliance.

Market screens and studies

Market-entry records filed along this branch of the hierarchy. A record at or beneath this code is about this industry; one above it is about something wider that contains it.

No operating-business record sits in this industry — the record filed here is a software market, shown in the next section.

Software serving this industry

The vertical software markets filed along the same branch — who sells to these businesses and who they would have to displace — and then the generic categories every business buys whatever it does.

Vertical softwareScreened

Mortgage Origination & Servicing SystemsOne thing must be true

binding constraint: incumbent vulnerability

Incumbent ICE Mortgage Technology (Encompass)

One vendor sits in the path of roughly nine in ten US mortgages and owns both origination and servicing after the Black Knight merger. The most credible challenger has been losing share for three years. Regulatory examination of the origination workflow adds a compliance floor on top. The interesting question in this market is antitrust, not entry.

NAICS 52224 vendors named6 sourced figuresOpen →

And what every business buys · 25 generic categories

Sold to every industry rather than this one, so they are filed against the software industry's own code. The same few vendors recur across most of them.

Companies in this industry · 5

Every company this research names that is filed here or beneath — the operators, and the vendors that sell to them — largest disclosed revenue first. The rank is within the company’s own six-digit industry.

Company	Filed under	Revenue	Rank
ICE Mortgage TechnologyPrivate	Non-depository credit intermediation5222	$2.2B	1/5
BloomaPrivate	Non-depository credit intermediation5222	—	2/5
BlendPrivate	Non-depository credit intermediation5222	—	3/5
Dark Matter TechnologiesPrivate	Non-depository credit intermediation5222	—	4/5
MeridianLinkPrivate	Non-depository credit intermediation5222	—	5/5

Who works here

The occupations employed in Finance and insurance, most concentrated in it first. The share is measured against the whole sector, not this industry — the published cross-tabulation stops there.

Tagged to this industry

Auditors, accountants and investment professionals Managers in financial and business services

Concentrated in this sectorA

Insurance, real estate and financial sales occupations Mostly one sector 51.9%

Auditors, accountants and investment professionals Mostly one sector 43.1%

Computer, software and Web designers and developers Mostly one sector 7.6%

Managers in engineering, architecture, science and information systems Mostly one sector 6.4%

Judges, lawyers and Quebec notaries One industry 3.2%

Library, correspondence and other clerks Mostly one sector 3.1%

Service supervisors Mostly one sector 2.8%

Electrical, electronics and computer engineers Mostly one sector 2.8%

College and other vocational instructors One industry 2%

Cashiers and other sales support occupations One industry 1.8%

These jobs are mostly done here. An operator in this industry is competing for them against others in the same industry, not against the whole economy.

And the jobs every business has

Accounting, insurance and related business administrative occupations Across the economy 25.8%

Customer and information services representatives Across the economy 23.9%

Financial, insurance and related administrative support workers Across the economy 13.8%

Survey, statistical and data entry occupations Across the economy 9.1%

Administrative services managers Across the economy 8.9%

Administrative and financial supervisors Across the economy 8%

Technical occupations in computer and information systems Across the economy 7.2%

Legislative and senior managers Across the economy 6.6%

Office administrative assistants - general, legal and medical Across the economy 5.5%

Administrative, property and payroll officers Across the economy 4.5%

Found across at least fourteen of the twenty sectors. But note the shape of this industry: 82% of establishments have fewer than ten employees, and at that size most of these roles are one person wearing several hats, or bought in from outside.

All 162 occupations →

Inside this industry

3 rows sit directly beneath 5222, and 7 in all once every level is counted. Each has a base report of its own.

Code	Industry	Establishments · CA	What is known
52221	Credit card issuing	12	screened at 5222
52222	Sales financing	324	screened at 5222
52229	Other non-depository credit intermediation	1,855	screened at 5222

Alongside it, under 522 Credit intermediation and related activities

Code	Industry	Establishments · CA	What is known
5221	Depository credit intermediation	8,368	Core Banking Systems
5223	Activities related to credit intermediation	3,477	RegTech & Financial Crime Compliance Embedded Payments & Fintech for Vertical Software — renting the rail