Blend Named a Leader in Two IDC MarketScape Reports for North American Consumer Lending
SAN FRANCISCO, November 28, 2023--(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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