Blend Named a Leader in Two IDC MarketScape Reports for North American Consumer Lending

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.