Delivering speed and scale to transform banking
Blend Labs,a leading origination platform for digital banking solutions, and Truework, a leading verification of income and employment platform,announced their partnership to bring intelligent verification of income and employment directly into Blend’s suite of consumer banking and home lending products.
Through this collaboration, lenders gain a comprehensive, fully integrated verification solution that enables faster borrower approvals and significantly broader income and employment coverage.
Financial Technology Insights: SBI Digital Markets, UBS, Chainlink Complete Pilot for Smart Contract Fund Admin
This partnership comes at a crucial time for lenders looking to navigate market uncertainty with smarter, more efficient origination solutions that reduce costs and streamline operations. The challenge remains that fragmented systems and disconnected workflows slow down processes and create friction for both lenders and borrowers. Blend and Truework’s integrated solution streamlines the lending experience while providing broad coverage across borrower and income types accelerating approvals and improving efficiency across mortgages, deposits, and consumer loans.
Designed to enhance lender efficiency and elevate the borrower experience, Blend’s platform leverages automation, data connectivity, and best-in-class technology partners to simplify consumer banking and home lending origination for hundreds of financial institutions. By directly integrating with partners like Truework, Blend is able to empower lenders to grow, adapt, and optimize their operations without additional complexity, making it easier to scale while maintaining efficiency and a great borrower experience.
Financial Technology Insights: AEON Partners with Four.Meme: Abstracted Crypto Payment Fuels Growth of Meme
Truework is recognized for its ability to consolidate all major verification methods into one centralized VOIE platform. Organizations no longer need to distribute their verification efforts across multiple vendors, which historically leads to duplicative efforts, increased costs, and incomplete verifications. Truework optimizes every verification method to provide accurate and usable reports, with an industry-leading 75% completion rate.
With this partnership, Truework’s verification service is embedded directly within Blend’s borrower and loan officer experience. Based on a few borrower inputs, income and employment data is automatically pulled from multiple data sources and populated back to the application. Fully vetted and complete income reports are provided, removing extraneous or duplicative efforts that historically weigh down internal teams. Additionally, Blend customers maintain the ability to submit income and employment reports to Freddie Mac’s Loan Product Advisor and Fannie Mae’s Desktop Underwriter (DU) to assess eligibility for representation and warranty relief.
Financial Technology Insights: Paxos to Acquire Finnish E-Money Institution Membrane Finance
“We share a vision with Blend in wanting to make the mortgage journey as smooth as possible for both lenders and applicants. I believe this partnership makes that possible,” said Ryan Sandler, CEO and co-founder of Truework. “We look forward to providing Blend customers with an intelligent verification experience that prioritizes speed, coverage, and transparency.”
“Building a best-in-class lending experience means bringing together the right technology partners to streamline every step of the process,” said Nima Ghamsari, co-founder and head of Blend. “Partnering with Truework strengthens this commitment by delivering more seamless and comprehensive verifications, helping lenders drive efficiency and provide faster, more reliable approvals for their customers.”
Source – PR Newswire
To share your insights with the FinTech Newsroom, please write to us at news@intentamplify.com
