When adopting what they hope is a future-proof lending platform, technology leaders face many different concerns:
- What would this replacement mean for the evolution of my bank’s IT architecture?
- Does the new system support migration to a modern architecture?
- How does the system fit into my overall strategy for maximizing digital agility?
- How can the technology help adapt to new circumstances and trends in consumer behavior?
Achieving digital agility shouldn’t require an overhaul of systems at every turn. Rather than ripping and replacing, Blend advocates evolving your system architecture based on a custom migration path.
Other solutions on the market typically support either immediate support or long-term flexibility. Point solutions, for example, account for immediate impact with their embedded lending logic, but may not be flexible enough to serve future needs as lending evolves. Other options — such as industry-agnostic no-code solutions — are more flexible over time, but they often require tech leaders to start from scratch, teaching the system everything from FICO scores to underwriting regulations.
With Blend, you can get the best of both worlds. Our products are designed for the lending domain and built on a flexible platform infrastructure that grows with your needs.
Blend as an enabler of digital agility
When considering new product offerings, financial institution leaders frequently seek out solutions that can be installed immediately and quickly scaled. At the same time, these decision makers have to consider how such solutions fit into their ecosystems over the long term. In short: are they future-proof?
Blend advocates a different form of change and adaptation than you may be used to. This approach immediately accelerates the best parts of a business’s systems, processes, and people; over time, it evolves processes with an IT architecture that is both flexible and dependable for the long haul. Rather than a “radical restart” followed by an often costly and disruptive overhaul of a bank’s systems, Blend believes in a humbler approach.
Blend lets financial institutions introduce new products quickly and effectively. Consider, for example, M&T’s recent loan application for the Paycheck Protection Program, which they released with Blend in less than three days. Such agility can be invaluable for lenders today.
Blend is built for both short-term speed and long-term adaptive strategy. Banks and lenders leverage Blend for immediate access to its built-in functionality, which incorporates industry best practices and processes. Blend provides banks with unprecedented configurability that includes the ability to add, modify, and remove functional building blocks in a modular architecture.
As a financial institution adopts Blend for more of its lending products, they benefit from more consistent user experiences and a more efficient IT architecture overall. For instance, as we make updates to platform functionality and built-in resources (like FICO scores and underwriting regulations), they apply to all products at once instead of being scattered across several point systems.
Moving toward a future-proof lending platform with integrations
Blend supports an evolutionary approach to IT banking architecture. One of the important features of Blend’s lending platform is its compatibility with the legacy systems that banks already have in place. As banks continue to use Blend for additional lending products, benefits accrue from this legacy system integration. At the same time, banks benefit by evolving toward a comprehensive modern IT architecture. Blend complements existing IT infrastructure through two primary kinds of integrations.
Blend-enabled integrations are pre-built to use as part of the core Blend platform and include core banking systems, CRMs, data verification providers, LOS, pricing engines, and document generation providers. You can think of these as being “under the hood.”
While we are confident that we have the features you need to get the job done, we can also connect with your existing technology for a seamless customer experience — that’s where custom integrations come into play.
No matter which integration suits your situation best, rest easy knowing that each has been designed with long-term future-proofing in mind.
Finding digital agility through your lending platform with Blend
Blend helps banks solve their most pressing problems, such as the need to quickly spin up a new market-dependent product, while building toward a comprehensive approach to digital agility. In this way, Blend prioritizes growth and longevity as banks evolve their IT strategy.
This lets you retain the features that make your business unique — your systems, processes, and people — while facilitating a future of complete digital ability. Rather than costly disruptions and overhauls, Blend lets your team set the pace for change and evolution. By enabling digital agility, Blend lets you do what you do best while keeping an eye on the future.