Blend, a San Francisco-based fintech, has launched a mobile application for banks and credit unions that enables them to offer the convenience of customer and member onboarding via smartphone or tablet.

Blend, which also provides technology that supports digital mortgage and home equity loans, has developed technology that allows customers to open deposit accounts without needing to visit a branch to complete the process, according to a company blog post.

"By making deposit account opening easier, Blend is enabling banks and credit unions, no matter their size, to deepen consumer relationships and stay competitive in a crowded market," Olivia Teich, head of product at Blend, said in a company release.

Making the deposit account onboarding process easier is critical for some financial institutions, such as credit unions, because in many cases customers must open a deposit account before they can take out a loan.