Blend Named a Leader in Two IDC MarketScape Reports for North American Consumer Lending
November 28 2023 - 8:05AM
Business Wire
Blend, a leading provider of cloud banking services, has been
named a Leader in two IDC MarketScape reports – IDC MarketScape:
North American Consumer Lending Customer Experience Solutions
2023-2024 Vendor Assessment (doc #US51322723, November 2023) and
IDC MarketScape: North American Consumer Lending Decisioning
Platforms 2023-2024 Vendor Assessment (doc #US51322623, November
2023).
In today’s challenging macroeconomic environment, many lenders
are facing increased competition from banks and neobanks, while
consumers have higher expectations for instant and personalized
experiences. For more than a decade, Blend has been focused on
transforming banking experiences. The Blend Builder Platform was
created to help lenders automate complex processes and banker
workflows, resulting in a more efficient and differentiated
borrower experience.
According to the IDC MarketScape, Blend’s strengths include the
following:
- Low-code, user-configurable lending platform features
- AI-powered assistant for loan officers
- Mobile lending platform with virtual closing
- Exceeds peers in options for loan product guidance and
prequalifications
The Blend Builder Platform is designed to power the end-to-end
consumer journey for any banking product. From the moment a
consumer starts an application for a loan or a deposit account to
the moment they digitally sign their final documents, the Blend
Builder Platform streamlines the process with its growing library
of modular components and configurable workflows in a low-code
development environment. The Platform allows for rapid innovation
and offers guided application flows, a responsive design, and data
pre-fill to drive higher conversions.
“From the beginning, Blend’s vision has always been to bring
simplicity and transparency to financial services,” said Nima
Ghamsari, head and co-founder of Blend. “We believe this
recognition underscores Blend’s commitment to enhancing efficiency,
and empowering lenders to deliver personalized, proactive and
simple experiences without sacrificing speed or spend."
About The IDC MarketScape
The IDC MarketScape vendor assessment model is designed to
provide an overview of the competitive fitness of ICT (information
and communications technology) suppliers in a given market. The
research methodology utilizes a rigorous scoring methodology based
on both qualitative and quantitative criteria that results in a
single graphical illustration of each vendor's position within a
given market. IDC MarketScape provides a clear framework in which
the product and service offerings, capabilities and strategies, and
current and future market success factors of IT and
telecommunications vendors can be meaningfully compared. The
framework also provides technology buyers with a 360-degree
assessment of the strengths and weaknesses of current and
prospective vendors.
About Blend
Blend is the infrastructure powering the future of banking.
Financial providers—from large banks, fintechs, and credit unions
to community and independent mortgage banks—use Blend’s platform to
transform banking experiences for their customers. Blend powers
billions of dollars in financial transactions every day. To learn
more, visit blend.com.
Forward-Looking Disclaimer
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements generally relate to future events, future
performance or expectations and involve substantial risks and
uncertainties. Forward-looking statements in this press release may
include, but are not limited to, our expectations regarding our
product roadmap, future products/features, the timing of new
product/feature introductions, market size and growth
opportunities, macroeconomics and industry conditions, capital
expenditures, plans for future operations, competitive position,
technological capabilities and strategic relationships, as well as
assumptions relating to the foregoing. The forward-looking
statements contained in this press release are subject to risks and
uncertainties that could cause actual outcomes to differ materially
from the outcomes predicted. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “expect,” “plan,” “anticipate,” “could,” “would,”
“intend,” “target,” “project,” “contemplate,” “believe,”
“estimate,” “predict,” “potential” or “continue” or the negative of
these terms or other comparable terminology that concern Blend’s
expectations, strategy, plans or intentions. You should not put
undue reliance on any forward-looking statements. Forward-looking
statements should not be read as a guarantee of future performance
or results and will not necessarily be accurate indications of the
times at, or by which such performance or results will be achieved,
if at all. Further information on these risks and uncertainties are
set forth in our filings with the Securities and Exchange
Commission. All forward-looking statements in this press release
are based on information available to Blend and assumptions and
beliefs as of the date hereof. New risks and uncertainties emerge
from time to time, and it is not possible for us to predict all
risks and uncertainties that could have an impact on the
forward-looking statements contained in this press release. Except
as required by law, Blend does not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments, or otherwise.
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