Why Financial Institutions Should Make Fintech Lending their Identity, Not Competition?

San Francisco-based Blend, which claims to offer market-leading digital loan technology that makes the loan acquisition process simpler, faster and safer, suggests that service providers should make Fintech lend their identity and not necessarily your competition.

While financial institutions around the world are in different phases of digital transformation, Fintech challengers are “setting a rapid pace.” Blend further explains that digital lending solutions “speed up and simplify the traditionally intensive process of applying for a mortgage, consumer loan or deposit account.”

Additionally, Blend suggests that the Digital Lending Platform assist financial institutions with the following:

1) Quickly and effectively level up their digital offering

2) Achieve a best-in-class UI/UX

3) Deliver seamless consumer experiences across multiple channels and multiple product lines, from application to close

4) Speed up the loan application process