Blend announce that they’ve expanded their partnership with an enhanced integration and a strategic investment from Salesforce Ventures.
Driving toward simplicity and transparency together
Their partnership with Salesforce is an integral part of the ecosystem they’re building to drive simplicity and transparency in consumer lending. Salesforce is among the most respected technology companies in the world, and they are proud to work with them so closely.
Blend and Salesforce are aligned on their commitment to creating a better consumer loan experience for lenders and borrowers alike. As Blend has quickly become a leading digital lending platform for streamlining loan originations, Salesforce offers financial institutions the ability to better know and understand their customers. Working together, they see a massive opportunity for us to help their customers move forward.
Most banks and credit unions operate in a world where each lending product has its own tech stack. As a result, customer experiences are highly fragmented, digital transformation efforts are slow and costly, and hot new fintechs can easily steal customers away.
Together, Salesforce and Blend provide a single technology layer across lending products and channels to help financial institutions deepen their relationships with their customers.
How they’re driving success with their customers
Before Blend, BMO Harris’ home loan teams relied on bankers themselves originating loans. Today, online mortgage and home equity application volume at the bank has risen 275% over the same period last year, and over 80% of mortgage and home equity applications are now submitted using Blend. The technology has given BMO Harris’ bankers more time for premium customer service.
As consumers increasingly manage finances outside of traditional banking hours, banks like BMO Harris are using technology to ensure continued customer convenience. Companies like Salesforce and Blend help them continue to deliver the level of service for which they’re known – anytime, anywhere. Today, 57% of the bank’s digital mortgage applications are submitted outside working hours — a clear indication that BMO Harris’s strategy for serving consumers on their terms is working.
Furthermore, banks manage valuable customer data. By combining digital lending workflows through Salesforce and Blend, BMO Harris bankers have increased clarity about how to help customers achieve financial goals.
Blend and Salesforce customers have also noticed that using both systems makes outbound campaigns more effective by pre-filling data and preventing customers from falling out of the pipeline.
“We’ve been thrilled to see BMO Harris’ digital loan volume grow as we serve our customers in a more convenient way without sacrificing quality customer service,” said BMO Harris Head of Retail Lending Product Management Thomas Parrish. “We’re glad to see Blend building an ecosystem that includes Salesforce so we can ensure all our technology works together effectively.”