Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 106

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 106
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 loan cycles, and enabling digital closings.

•Lower development costs — our customers benefit from a flexible, white-label software platform that is regularly updated and enhanced by hundreds of engineering, product, and operations specialists. 

•Reduced risk of fraud and human errors — we aggregate financial data from multiple sources with consent from consumers, which reduces the need to upload, review, and transcribe documents.

Ultimately, it is our goal to help banks, credit unions, fintechs, and other non-bank lenders proactively improve financial opportunities for consumers. By removing friction, increasing transparency, and bringing greater personalization to consumer acquisition workflows, we see the potential for our software platform to help financial services firms improve the lives of millions of consumers. 

What Sets Us Apart 

As a leading cloud-based software provider that streamlines the end-to-end consumer journey for mortgages, home equity, consumer loans, and deposit accounts, we leverage our unique capabilities to create distinctive competitive advantages. We believe we are well positioned to serve as a long-term strategic innovation partner and provider of mission-critical software to financial services firms due to the following factors: 

•All banking products under one umbrella — we support multi-product shopping experiences and enable consumers to move seamlessly across digital devices, contact centers, and branches throughout the origination process. We also provide additional benefits and incentives for customers to standardize with us across products and channels. Through our software platform, we deliver product updates on a regular basis. Our products are highly complex and require us to have advanced knowledge of modern software development techniques as well as deep industry expertise, including in-depth knowledge of financial services regulations, product offerings, and operational workflows for approving loans and opening accounts. We manage this complexity for our customers, allowing them to focus on driving their business priorities. We continue to invest in research and development to build our products and grow our business.

•Blend Builder — we enable financial services firms to rapidly build and launch new product offerings by leveraging our low-code design tools and an extensive library of modular components purpose-built for loan origination, account opening, and consumer onboarding.

•Expansive partner ecosystem — we partner with more than 130 technology vendors and data service providers and we expect to continue to expand our partner ecosystem. Through our integrations and marketplaces, we enable technology, data, and service providers to collaborate through our software platform and provide superior consumer experiences. By aggregating transaction volume across multiple financial services firms, we are able to negotiate competitive rates for technology and data services we bundle into our products. We