Alliant Credit Union announced a partnership with Blend Labs Inc. (NYSE: BLND) to launch a digital home lending platform for mortgage and home equity borrowers, according to a press release.

Alliant, a Chicago-based credit union with nearly one million members and $20 billion in assets, said the platform will allow members to move from mortgage prequalification to a full application in minutes. Planned features include automated pre-approvals, income and asset verification, identity and fraud checks, real-time application status, and digital closing.

The credit union also said it plans to add AI-powered document processing to reduce manual data entry.

"By providing automated pre-qualification within minutes, we are helping members move quickly and confidently in a competitive housing market," said Dan Bauer, head of residential lending at Alliant Credit Union.

Alliant said it plans to extend the Blend platform to home equity lending, including home equity lines of credit, with a target closing time of 15 days or less for HELOCs.

Mike Dobbins, CEO of Alliant Credit Union, said the home lending platform is part of a broader effort to update member-facing digital experiences across the institution.