How white label mortgage apps create a better member experience | Blend

How white label mortgage apps create a better member experience

When it comes to customer experience in the financial industry, credit unions have a reputation. While all organizations strive to provide excellent service, member experience is truly a top priority for credit unions and community banks. But these providers often don’t have the resources or teams required to build custom technology solutions. A white label mortgage app like Blend enables lenders to offer their members intuitive, unified digital interactions.

In a time when financial institutions are facing heightened consumer expectations and a lack of customer loyalty, member experience is increasingly important. A seamless process provided by digital mortgage software empowers your lending team to deliver better service and build more meaningful relationships. Without a digital solution, the mortgage process is overrun by information exchange with a lot of administrative back-and-forth, which diminishes the lending officer’s ability to have more impactful conversations.

Creating a more cohesive member experience

For credit unions without a cohesive, white label mortgage app, the experience can often feel disjointed to members. In these instances, only certain pieces of the process are branded consistently.  For example, when opening the application to apply for a loan, many mortgage software solutions will take the user off of the bank’s website to a completely different URL. This experience can create concern or decrease the user’s trust in the process. It is essential to ensure the borrower feels secure when sharing their personal information.

eClose scenarios are another common example of a fragmented customer experience, as the fully digital end-to-end mortgage experience gains steam. There are not many mortgage platforms that allow borrowers to start the application and move all the way through the process within one portal. Not only is the experience inconsistent, but it also creates a headache for borrowers with more usernames and passwords required.

A white label mortgage app, like Blend, allows financial institutions to deliver a cohesive experience from end to end, with minimal disruptions. The highly branded and familiar experience is designed to put members at ease and remove any potential friction from the process. Blend Close gives consumers flexibility to close the way they want. The single, integrated experience offers all of the necessary functionality for eSign, Remote Online Notarization, eNote solutions, integration to an eVault, and eRecording.

Building brand loyalty and creating efficiency with a white label mortgage app

Many credit unions are struggling with a loyalty crisis, where borrowers are constantly looking for the best rate or the easiest lending process. A white label mortgage app enables lenders to give their members a best-in-class digital experience under their own name. When members have a series of positive interactions, seamlessly branded with their credit union’s logo and colors, it helps build and maintain brand loyalty.

Digital mortgage solutions also create efficiencies for lending teams, which gives them more time to focus on sustaining superior customer service. Blend’s white label mortgage app converts the process from document driven to data driven, which allows loan officers to get information directly from the source and reduces manual entries.

During the refi boom this year, financial institutions around the country faced an incredible surge of refi applications. Blend’s platform helps lending teams prioritize next steps by surfacing product pricing upfront and pulling soft credit. As a member progresses through the application, Blend’s platform is able to automate initial conditions and surface those back to the member right when they submit. At that point, members are told which additional documents they will need to provide and are able to start acting on their next steps immediately — saving time for members and lenders.

How Navy Federal Credit Union empowers a timeless member experience

For decades, Navy Federal has passionately focused on their members; they promise “once a member, always a member. Your life is our mission.” To support their vision, the organization stays one step ahead by utilizing the right tools to ensure members receive world-class service from anywhere around the globe.

“Consumer expectations are changing, and we have to deliver an elevated experience.”

Randy HopperSenior Vice President Mortgage Lending at Navy Federal Credit Union Read case study