US-based lender Frost Bank has expanded its partnership with Blend, a cloud banking software provider, as part of its digital transformation strategy.
The latest partnership will cover Frost Bank’s mortgage, consumer banking, and deposits business lines.
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Earlier, the lender had joined forces with Blend on home equity loans and lines of credit.
The partnership is aimed at enhancing customer experiences across all consumer banking products and services.
Frost Bank chairman and CEO Phil Green said: “Frost Bank is bringing its industry-leading customer service to mortgage lending and working with a highly regarded company like Blend will allow us to be involved in the entire process from start to finish so that we can provide a great experience to our customers.”
Frost Bank, which has $46.7bn in assets, will also be able to offer a mortgage solution digitally to its customers.
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By GlobalDataBlend co-founder and head Nima Ghamsari said: “As we work to build the future of financial services, it’s critical we partner with firms like Frost Bank that have a continued commitment to customer experience and digital transformation.
“This partnership is a testament to the fact that digitisation and technology are imperative when it comes to advancing how financial services firms serve their customers and being able to offer digital, in-person, and hybrid solutions is key to building long-lasting consumer relationships.”
Last August, Blend secured $75m in a Series F funding round at a valuation of nearly $1.7bn.
Its digital platform is used by the likes of Wells Fargo, US Bank, and 310 other financial institutions.
