7 must-have characteristics in a lending technology partner - Blog | Blend

7 ways to spot an outstanding lending technology partner

As technology evolves, solving core business challenges becomes increasingly complex. Lenders face pressure to transform all aspects of their business, heightening the need for holistic solutions. Without an objective, bird’s-eye view of a lending team’s needs, getting to the right tech stack decision can be a major hurdle. Enter: the lending technology partner.

Looking for a deeper look into technology partners?

Check out our digital guide, Reinventing Home Lending.

The digital arms race, while offering an inspiring future-state for all companies, is causing a massive headache for in-house technical teams trying to keep pace with innovation. They’re challenged to find ways to augment their services without disrupting day-to-day processes or ripping and replacing core technologies. They also need to avoid managing a ballooning number of vendors with hard-to-measure ROI and inevitable interoperability challenges.

Technology partners have emerged to help lenders with digital transformation — how should lenders think about separating the signal from the noise?

The seven most common characteristics of top-tier lending technology partners

We talked to our 170+ lender partners about what makes a technology partner great to work with. These are the most common responses we heard:

1. A full suite of services under one contract

Avoid having to manage multiple contracts.

2. Streamlined access to third-party integrations

Escape expensive and time-consuming integration work.

3. Aligned success goals for less front-end risk

Build toward mutually beneficial outcomes.

4. Right-sized solutions for large and small organizations

Compete effectively, no matter what size you are.

5. Solutions that match consumers’ technology expectations

Increase your total addressable market.

6. Plug-and-play capabilities with versatile platforms and broader solutions

Access software and services with easy, switch-on configurations.

7. The ability and intention to augment — not rip and replace — core services

Evolve your tech stack — don’t reinvent it.

Selecting the right partner is difficult, but the decision is too important to stop leaders from taking action if they want to get truly future-ready. What’s clear to industry watchers is that the time to get the greatest benefit from adopting a digital mortgage is now.

Want to make Blend your lending technology partner?

Let’s start the conversation.