From point-of-sale to platform solution | Blend

How Blend is helping banks evolve from point-of-sale to a platform solution

Working smarter, not harder — the singular, modern experience that consumers want.

Today’s modern world is fast-paced and getting faster. Digital integration is now a baseline expectation from consumers, and financial services can be no exception. Real-time data, automation, and self-service are the capabilities consumers demand.

A platform solution, with speed and versatility, is one of the many ways Blend helps lenders deliver the singular, modern experience that consumers want. Blend’s platform is the hub connecting borrowers, loan officers, and partners through integrated automation processes, streamlined workflows, and access to real-time information.

Unlike a point-of-sale solution, with a platform solution, you’re getting a full package of interconnected products and services — no need to juggle multiple vendors or worry about cross-functionality and compatibility. The Blend platform is an end-to-end solution.

It’s time to work smarter, not harder. It’s time to move beyond the point-of-sale. 

At Blend we build the tools and systems that power the future of banking. Here’s how Blend helps deliver the speed, efficiency, and wide-ranging advantages that a platform solution offers.

Everything in its right place

With the Blend platform, data is directly accessible for instant pre-approval: credit, PPE, AUS, and fees. Crucial verification systems are seamlessly integrated, including third-party asset verification services. It’s this level of asset connectivity within the core application experience that helps deliver an increased adoption of verified assets and data from income, employment, and payroll.

That increased adoption also delivers loans that are automatically eligible for GSE programs. At Blend we believe in better lending for all, and we built the Blend platform to be seamless and efficient for both borrowers and lenders.

Automation, automation, automation

Slow processes can lead to unhappy borrowers. Automation and access to data helps reduce the kind of manual errors that slow these processes. 

Blend wants to make your life easier. And with hybrid and remote online closing options, you’ll save money too. Blend customers who add digital closing to mortgage loan applications can cumulatively save as much as $962 per loan, according to Marketwise Advisors

A big part of that number is generated from efficiency and automation built into the Blend platform. Analyzing customer data during the application stage and automatically requesting conditions based on that data are just two examples of how the Blend platform saves both time and money. This level of automated assessment and predictive conditioning removes steps, touches, and delays saving you both time and money. 

The Blend platform also provides pre-defined templates and automates the issuance and eSigning of letters of explanation or gift letters further streamlining the experience for both the borrower and loan officer. For every step of the way, right from the start, the Blend platform brings a new level of automation and savings to the entire mortgage process.

Post-application advantages

The singular, streamlined experience for borrowers that the Blend platform provides doesn’t end when the loan is closed. With an integrated homeowners insurance shopping service, plus a fulfillment workflow, borrowers can quickly and conveniently compare offers. 

With a unified platform system, you can reduce friction for borrowers across products and processes. This can also expand wallet share as your customers are already familiar and comfortable with the user experience. Needless to say, point-of-sale solutions pale in comparison here. There’s power in a platform that delivers a full-service customer experience.

Upscaling the customer lifetime value

To put it plainly, a platform solution powers additional lending experiences. Unlike point solutions, a platform experience allows consumers to easily glide between different banking products in a consistent and familiar digital environment. With the Blend platform, the same verification, automation, data connectivity, and self-directed workflow experiences in mortgage can extend to HELOCs, home equity loans, personal loans, credit cards, vehicle loans, deposit accounts, and more. 

Blend’s engineers built this platform with flexibility and versatility in mind, so they can continue to refine the experience for consumers of all financial products. For Blend’s partners, the singular customer experience across products is truly a boon when it comes to customer lifetime value.

We live in a fast-paced, digital world and financial services are no exception. Bringing the speed, simplicity, and versatility of a platform solution — with real-time data, integrated systems automation, and borrower self-service capabilities — is just one of the many ways Blend helps lenders deliver the experience that consumers expect. And that seamless customer experience is what increases customer lifetime value. At Blend we call that powering the promise of tomorrow with action today.