Upstart is the first lending platform to leverage artificial intelligence and machine learning to price credit and automate the borrowing process. Upstart has demonstrated unparalleled credit performance1 and the industry’s highest consumer ratings.2
In addition to its direct-to-consumer lending platform, Upstart provides technology to banks, credit unions and other partners via a “Software-as-a-Service” offering called Powered by Upstart.
have never defaulted on a loan, yet less than half have access to prime credit.3
The implication is eye-opening: with a smarter credit model, lenders could approve almost twice as many borrowers, with fewer defaults.
to ensure it operates safely within the law.
AI/ML-based lending expands access to affordable credit by constantly finding new ways to identify qualified borrowers. Yet the model must avoid disparate impact, or statistical bias, that would be harmful to disadvantaged groups.
Upstart has worked transparently with regulators for more than 2 years and has consistently demonstrated that its platform doesn’t introduce bias to the credit decision. Furthermore, Upstart has developed operational and reporting procedures to ensure future versions of the model continue to be fair and unbiased.