Today we’re thrilled to announce a new partnership with Blend, a leading fintech company whose cloud banking platform is re-architecting banking software around the consumer. Through this partnership, we’re bringing the most advanced machine learning capabilities to Blend’s mortgage origination process, enabling easier and faster lending decisions for home buyers.
Traditional mortgage lending processes take 30 days to complete on average, and in today’s world where consumers can access goods and services instantly, they are demanding the same kind of efficiency from their financial institutions.
Scale’s Document AI platform will provide Blend with state of the art, fine-tuned machine learning models to process and extract information from complex mortgage documents in seconds. Our models do not require templates or rules, increasing the operational efficiency for our customers. And our fast human-in-the-loop review process ensures we’re maintaining 99%+ accuracy to reduce processing times to less than two days.
“Blend focuses on delivering a delightful, accessible and intuitive lending experience to consumers and robust, scalable, dynamic tools for bankers.” said Jeff Braddock, Business Development at Blend. “The combination of the Blend platform with Scale’s DocumentAI ensures the swift, accurate extraction and validation of data from documents, enabling bankers to make data-driven decisions with confidence.”
“In the past, incumbent financial institutions have not had great AI and ML technologies at their disposal that are simple to implement and easily fit within their existing technology stacks, so they’ve been stuck trying to build these capabilities in-house,” said Melisa Tokmak, GM of Document AI at Scale. “Blend is taking a truly customer-first approach by building best-in-class financial solutions and partnering with Scale to bring deep ML expertise that would take years and significant resources to develop alone. Ultimately this brings better, smarter solutions to their customers faster.”
Blend represents the growing use cases for Scale’s Document AI, which has quickly grown to serve customers across wide-ranging industries including financial services, logistics, and healthcare. To learn more about Document AI and schedule a demo, please view the Document AI webpage.