Horizon Bank Selects Blend To Upgrade Mortgage Lending Experience
Horizon Bank, an $8 billion financial institution and division of Horizon Bancorp, Inc. (NASDAQ GS: HBNC), has partnered with Blend (NYSE: BLND) to enhance its mortgage lending process. Blend's Mortgage Suite will provide Horizon Bank with a digital mortgage solution that streamlines the application experience, reduces origination costs, and boosts loan officer productivity.
Key features include:
- Advanced automation and mobile capabilities
- Seamless integration with existing infrastructure
- LO productivity tools for faster customer service
- Desktop and mobile access for loan officers
Blend processes over 20% of the nation's total mortgage origination volume and has demonstrated an average reduction of 8 days in loan cycle time, resulting in $914 in average cost savings per loan.
Horizon Bank, un'istituzione finanziaria da 8 miliardi di dollari e divisione di Horizon Bancorp, Inc. (NASDAQ GS: HBNC), ha stretto una collaborazione con Blend (NYSE: BLND) per migliorare il suo processo di prestito ipotecario. La Mortgage Suite di Blend fornirà a Horizon Bank una soluzione ipotecaria digitale che semplifica l'esperienza di domanda, riduce i costi di origine e aumenta la produttività degli agenti di prestito.
Le principali caratteristiche includono:
- Automazione avanzata e capacità mobili
- Integrazione fluida con l'infrastruttura esistente
- Strumenti di produttività per LO per un servizio clienti più veloce
- Accesso da desktop e mobile per gli agenti di prestito
Blend gestisce oltre il 20% del volume totale di origine di mutui nel paese e ha dimostrato una riduzione media di 8 giorni nel ciclo di prestito, con un risparmio medio di $914 per prestito.
Horizon Bank, una institución financiera de 8 mil millones de dólares y división de Horizon Bancorp, Inc. (NASDAQ GS: HBNC), se ha asociado con Blend (NYSE: BLND) para mejorar su proceso de préstamos hipotecarios. La Mortgage Suite de Blend proporcionará a Horizon Bank una solución hipotecaria digital que agiliza la experiencia de solicitud, reduce los costos de origen y aumenta la productividad de los oficiales de préstamos.
Las características clave incluyen:
- Automatización avanzada y capacidades móviles
- Integración fluida con la infraestructura existente
- Herramientas de productividad para LO para un servicio al cliente más rápido
- Acceso de escritorio y móvil para los oficiales de préstamos
Blend procesa más del 20% del volumen total de originación de hipotecas del país y ha demostrado una reducción promedio de 8 días en el tiempo del ciclo de préstamos, lo que resulta en un ahorro promedio de $914 por préstamo.
호라이즌 뱅크(Horizon Bank), 자산 80억 달러의 금융 기관이자 호라이즌 뱅코프(Horizon Bancorp, Inc.)의 부문(나스닥 GS: HBNC), 은 블렌드(Blend) (NYSE: BLND)와 협력하여 모기지 대출 프로세스를 개선하고 있습니다. 블렌드의 모기지 스위트(Mortgage Suite)는 호라이즌 뱅크에 디지털 모기지 솔루션을 제공하여 신청 과정을 간소화하고, 원가를 절감하며, 대출 담당자의 생산성을 높입니다.
주요 기능은 다음과 같습니다:
- 고급 자동화 및 모바일 기능
- 기존 인프라와의 원활한 통합
- 고객 서비스를 더 빠르게 제공하기 위한 LO 생산성 도구
- 대출 담당자를 위한 데스크톱 및 모바일 접근성
블렌드는 국가의 총 모기지 발행량의 20% 이상을 처리하며, 대출 사이클 시간을 평균 8일 줄이는 것으로 입증되었으며, 대출당 평균 $914의 비용 절감 효과를 보고하고 있습니다.
Horizon Bank, une institution financière de 8 milliards de dollars et division de Horizon Bancorp, Inc. (NASDAQ GS: HBNC), s'est associée à Blend (NYSE: BLND) pour améliorer son processus de prêt hypothécaire. La Mortgage Suite de Blend fournira à Horizon Bank une solution hypothécaire numérique qui rationalise l'expérience de demande, réduit les coûts d'origine et augmente la productivité des agents de prêts.
Les principales caractéristiques comprennent :
- Automatisation avancée et capacités mobiles
- Intégration fluide avec l'infrastructure existante
- Outils de productivité pour LO afin d'accélérer le service client
- Accès de bureau et mobile pour les agents de prêts
Blend traite plus de 20 % du volume total d'émission de prêts hypothécaires du pays et a démontré une réduction moyenne de 8 jours dans le cycle de prêt, entraînant une économie moyenne de 914 dollars par prêt.
Die Horizon Bank, ein Finanzinstitut mit einem Volumen von 8 Milliarden Dollar und eine Division der Horizon Bancorp, Inc. (NASDAQ GS: HBNC), hat sich mit Blend (NYSE: BLND) zusammengeschlossen, um ihren Hypothekenvergabeprozess zu verbessern. Die Mortgage Suite von Blend wird der Horizon Bank eine digitale Hypothekenlösung bieten, die das Antragsverfahren optimiert, die Herkunftskosten senkt und die Produktivität der Darlehensvermittler erhöht.
Zu den wichtigsten Funktionen gehören:
- Fortschrittliche Automatisierung und mobile Funktionen
- Nahtlose Integration in die bestehende Infrastruktur
- Produktivitätswerkzeuge für LO zur schnelleren Kundenbetreuung
- Desktop- und Mobile-Zugriff für Darlehensvermittler
Blend verarbeitet mehr als 20% des gesamten Hypothekenvergabevolumens des Landes und hat eine durchschnittliche Reduzierung von 8 Tagen in der Darlehenslaufzeit nachgewiesen, was zu Einsparungen von durchschnittlich 914 Dollar pro Darlehen führt.
- Partnership with Blend to enhance digital mortgage lending process
- Expected reduction in loan cycle time by 8 days on average
- Anticipated cost savings of $914 per loan on average
- Increased loan officer productivity through mobile and desktop tools
- Potential for improved customer experience and operational efficiency
- None.
Insights
Horizon Bank's partnership with Blend marks a significant move towards digital transformation in their mortgage lending process. This collaboration is poised to have a positive impact on Horizon Bank's operational efficiency and customer experience.
The integration of Blend's Mortgage Suite is expected to streamline Horizon Bank's lending operations, potentially leading to:
- Reduced loan processing times
- Lower operational costs
- Improved customer satisfaction
Blend's track record is impressive, processing over 20% of the nation's total mortgage origination volume. Their claim of eliminating an average of 8 days from the loan cycle and saving
However, investors should note that while this partnership has potential, its full impact on Horizon Bank's financials may take time to materialize. The success will depend on factors such as adoption rates, integration efficiency and the bank's ability to leverage the new technology effectively.
For Blend, this partnership adds another significant financial institution to its client roster, potentially strengthening its market position in the competitive fintech space. However, the impact on Blend's financials may be given Horizon Bank's size relative to Blend's existing client base.
This partnership between Horizon Bank and Blend is indicative of a broader trend in the banking sector towards digital transformation. As a
The decision to partner with Blend, a leader in digital banking solutions, suggests that Horizon Bank is prioritizing:
- Enhanced customer experience
- Improved operational efficiency
- Increased loan officer productivity
These focus areas align with industry-wide efforts to streamline processes and meet evolving customer expectations for digital services. The partnership could potentially help Horizon Bank compete more effectively with larger institutions and fintech startups in the mortgage lending space.
However, it's important to consider the challenges that come with implementing new technology systems, including:
- Integration complexities
- Employee training and adoption
- Potential short-term disruptions to existing processes
Investors should monitor how smoothly Horizon Bank manages this transition and whether it translates into measurable improvements in loan origination volumes, customer acquisition and retention rates in the coming quarters.
Technology partnership to enhance customer experience and boost loan officer productivity
“Our goal was to find a technology partner that could enable us to deliver a fast, efficient, and convenient home buying application experience for our customers,” said David Pendley, President Retail Mortgage Banking at Horizon Bank. “Blend's advanced automation and loan officer mobile capabilities made the decision to upgrade a no-brainer.”
A Modern Mortgage Application Experience
Blend’s Mortgage Suite offers a comprehensive solution that integrates seamlessly with Horizon Bank’s existing infrastructure.
By automating manual workflows and reducing the number of steps borrowers must take to complete their application, Blend’s digital mortgage solution creates a smoother, and more efficient lending experience that enhances the borrower experience, reduces origination costs, and drives operational efficiency.
Supercharging Loan Officer Productivity
Blend's LO productivity tools will increase the ease and speed at which Horizon’s Loan Officers can serve their customers in this competitive environment.
Using Blend’s platform, Loan Officers can seamlessly perform tasks that include starting applications, pulling credit, structuring loans, granting pre-approvals, and locking in rates. These capabilities are accessible both on desktop via Blend’s LO Mobile App, allowing Horizon Bank’s Loan Officers to manage applications or engage with new leads while on-the-go.
A Leader in Mortgage Origination Technology
Blend has over 12 years of experience building leading mortgage and consumer lending solutions for hundreds of financial institutions, including 35 of the nation’s top 100 banks by AUM and 13 of the nation’s top 30 mortgage originators by lending volumes. Over
“We at Blend are committed to empowering financial institutions with the most digitally advanced tools they need to excel in today’s competitive market," said Nima Ghamsari, Co-Founder and Head of Blend. "We look forward to collaborating with the Horizon Bank team to make the goal of homeownership as simple, fast, and streamlined as possible for their customers.”
Based on an independent 2023 impact analysis conducted with Blend’s mortgage customers, Blend’s Mortgage Suite eliminates an average of 8 days from the overall loan cycle time, from processing to closing, resulting in
To learn more about Blend’s Mortgage Suite, visit blend.com/products/mortgage-suite.
About Blend
Blend (NYSE: BLND) 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.
About Horizon Bancorp, Inc.
Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the nearly 8 billion–asset bank holding company for Horizon Bank, which serves customers across attractive Midwestern markets through convenient digital tools, as well as its
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240725162746/en/
Chloé Demeunynck
Corporate Communications
press@blend.com
Source: Blend
FAQ
What is the partnership between Horizon Bank and Blend (NYSE: BLND) for?
How much can Horizon Bank potentially save per loan using Blend's (NYSE: BLND) Mortgage Suite?
What percentage of the nation's mortgage origination volume does Blend (NYSE: BLND) process?
How many days can Blend's (NYSE: BLND) Mortgage Suite reduce from the loan cycle time?
