PNC Bank will partner with cloud banking software company Blend, in order to digitize the mortgage application process, a press release said.
Customers will now be able to apply digitally for a mortgage and import bank or payroll information, through providing the right credentials. The effect will be to cut down on the time it takes to locate documents. After the application is submitted, customers will have one portal to track the status, complete other tasks and review documentation.
“Over the last few years, we’ve seen first-hand the growing customer demand for simplified, digital-first interactions,” said Peter McCarthy, PNC executive vice president and head of Mortgage. “Through our partnership with Blend, we’re now able to deliver a state-of-the-art experience that provides an ideal combination of digital self-service technology and support for our customers as they navigate one of the biggest and most important purchases in their lifetimes.”
Blend head of product Erik Wrobel said the company’s goal is to “continue to partner with companies across the country to build the digital-first future of financial services.”
“We’re proud to work alongside PNC as they introduce a leading-edge, self-serve digital mortgage application solution — making the overall user experience easier and quicker for their customers and employees,” he said.
The PNC Financial Services Group has also recently bought point of sale (POS) solutions firm Linga, in order to keep on expanding corporate payments capabilities, PYMNTS wrote.
Read more: PNC Buys Restaurant POS Firm Linga
The acquisition will help serve hospitality and restaurant industry clients more. Linga, in business since 2004, provides an all-in-one cloud-based restaurant operating system with integrated POS and payments solutions.
PNC Treasury Management Executive Vice President Emma Loftus said the buy shows the company’s “continued commitment to expanding our corporate payments capabilities, as well as investing in the solutions and tools our clients need to run their businesses more effectively.”