Blend and Prove Partner to Accelerate Digital Onboarding with Advanced ID Verification

Direct integration to improve borrower experience, reduce friction and drop-offs, and enhance data accuracy

Blend Labs, Inc. (NYSE:BLND), a leading origination platform for digital banking solutions, today announced a direct integration with Prove Identity, Inc., a global leader in digital identity verification and authentication. This integration leverages the Prove Pre-Fill® solution to significantly accelerate digital onboarding for lenders on Blend's Consumer Banking platform.

This strategic partnership integrates the Prove Pre-Fill® solution directly into Blend's Consumer Banking platform, driving efficiency across its deposit account, credit card, and consumer loan offerings. The Prove Pre-Fill® solution securely pre-populates application forms with verified identity information, reducing manual data entry for lenders and accelerating the onboarding process for consumers.

"In today's world, consumers expect a fast, seamless, and secure banking experience," said Rich Rezek, Head of Banking Solutions at Prove. "Through our partnership with Blend, we've modernized the financial application process—making onboarding and verification streamlined and frictionless for consumers, banks, and lenders while reducing fraud. This collaboration is a step forward in building a more efficient, accurate, and trusted financial ecosystem."

By consenting and authenticating via their mobile devices, Prove makes account takeover more difficult and costly for fraudsters—while ensuring a secure and seamless experience for legitimate Blend users.

Unlike traditional methods that rely solely on personal information, Prove ensures that the only way to pose as someone else is by having their physical phone in hand. Prove can pre-populate a Blend-powered application workflow with verified identity information. Instead of rekeying application information and introducing the potential for error, consumers can review, confirm, or edit data as needed. This results in less friction and reduced form abandonment during the application process.

Why This Partnership Matters

Blend's integration of the Prove Pre-Fill® solution offers significant advantages to financial institutions using Blend's digital banking platform. By utilizing the combination of Prove and Blend, lenders can:

• Increase Conversion Rates: Streamline the application process and reduce drop-offs, leading to a higher percentage of completed applications.
• Improve the Borrower Experience: Provide a faster, more efficient, and less cumbersome application process.
• Decrease Data Entry Errors: Minimize typos and other inaccuracies through automated pre-fill, ensuring data integrity.
• Accelerate Onboarding: Onboard and verify customers nearly 80% faster.
• Provide a High Level of Assurance: The Prove Pre-Fill® solution ensures both the authenticity and accuracy of customer data, going beyond simple matching to verify identity, with applications across multiple industries.
• Decrease Fraudulent Account Openings: Common fraud methods, such as Synthetic Identity, burner phones, eSIM bots, and True Name Fraud are thwarted by Prove's Global Policy.

Advantages of Blend's Growing Partner Ecosystem: Speedy, Scalable Solutions

This integration with Prove further strengthens Blend's robust partner ecosystem, empowering banks and lenders to streamline and accelerate the deployment of Blend's suite of lending and deposit account opening solutions. By simplifying integrations with core systems, Blend reinforces its dedication to providing financial institutions with flexible, scalable technology that delivers long-term value.

"We're building a platform where efficiency, innovation, and security converge to create exceptional value for lenders," said Nima Ghamsari, co-founder and head of Blend. "We're proud to partner with leading providers like Prove to empower banks and lenders to continue innovating while supporting their communities. Ultimately, our mission is to continue making it easier for consumers to access financing."

To learn more about Blend's integrations, visit blend.com/integrations.

About Prove Identity, Inc. ("Prove")

Prove enables businesses to provide frictionless digital consumer experiences without compromising security. With Prove's advanced identity verification and authentication platform and Prove Identity Network, trusted digital transactions are assured throughout the user journey. More than 1,000 businesses, including 10 of the top 10 U.S. banks, rely on Prove to mitigate fraud, boost revenue, improve customer acquisition, enhance cybersecurity, and eliminate costs of legacy identity verification solutions. Learn more at www.prove.com and follow us on LinkedIn.

About Blend Labs, Inc. ("Blend")

Blend Labs Inc., (NYSE:BLND) is a leading origination platform for digital banking solutions. 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. Better banking starts on Blend. To learn more, visit blend.com.

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.

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Press Contact

Chloé Demeunynck

Corporate Communications

[email protected]