{"id":464239,"date":"2021-03-24T09:03:43","date_gmt":"2021-03-24T13:03:43","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464239"},"modified":"2021-03-24T09:03:43","modified_gmt":"2021-03-24T13:03:43","slug":"upstart-announces-availability-of-upstart-referral-network","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/upstart-announces-availability-of-upstart-referral-network\/","title":{"rendered":"Upstart Announces Availability of Upstart Referral Network"},"content":{"rendered":"
\n

AI lending platform helps banks and credit unions build inclusive and profitable loan portfolios<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SAN MATEO, Calif.<\/span>, March 24, 2021<\/span> \/PRNewswire\/ —\u00a0Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced the general availability of the Upstart Referral Network<\/a><\/u>\u2014a unique AI-driven system that matches borrowers with the banks and credit unions best suited to meet their borrowing needs. This automated system benefits both sides: banks and credit unions can build more inclusive and profitable loan portfolios that match their risk profile, and consumers get better access to more affordable credit.<\/p>\n

\n

\n
\n \"Upstart
\n <\/a>\n <\/p>\n<\/p><\/div>\n

Today, banks are experiencing record levels of cash deposits and reduced demand for loans. The Upstart Referral Network offers an easy way to put this cash to work. Qualified personal loan applicants on Upstart.com<\/a><\/u> who meet a bank partner’s credit policies receive tailored offers as they seamlessly transition into a bank-branded experience to complete the process. <\/p>\n

“Finding the right loan applicant can be a huge hurdle for banks. AI-driven lending eliminates a lot of the guesswork,” says Michael Lock<\/span>, SVP of Bank Partnerships for Upstart. “Our Network not only helps find applicants that banks might otherwise miss\u2014making it much more inclusive\u2014but we also help match the right rate for each applicant. We have seen great success with our early partners, and our overall results show that AI lending is the future of lending across all categories.”<\/p>\n

The Upstart Referral Network, which was in limited preview for existing bank partners, now includes newly released features that enable banks and credit unions to add customers and expand their loan portfolio while maintaining visibility and control into those loans based on their risk policy.<\/p>\n