All-digital lending enabled by AI
Realize dramatically better performance
fewer defaults at same approval rate2
more predictive than credit score during COVID-193
vs. less than 30 NPS at top-tier banks1
How you benefit
“We chose to partner with Upstart because their approach to modernizing lending is well aligned with FNBO’s focus on a customer-centric experience. Upstart’s AI/ML-based pricing engine and automation will allow us to profitably serve a broader set of customers, within a great digital onboarding experience, than we could before.”
SVP of Enterprise Digital Solutions and Emerging Business,
First National Bank of Omaha
“The best part of working with Upstart has been the ability to put the consumer on a better financial path to meet their goals, extinguish debt, and save for a home.”
CEO, First Federal Bank of Kansas City
“Upstart’s model was able to deliver better returns, lower default rates, and reduced risk of fraud. We’ve grown the program from a small pilot to a full-scale lending program that’s continued to meet and exceed our expectations.”
Vice Chairman and Chief Operating Officer, Customers Bank.
1 To determine Net Promoter Score (NPS) score, Upstart used a third-party service to administer surveys to personal loan applicants immediately following an applicant’s acceptance of a loan on Upstart’s platform.While the NPS methodology used by Upstart’s third-party service was designed to be consistent with the methodology used in the referenced benchmark study, any differences in the timing or method in which the surveys were administered could negatively impact the comparability of such NPSs. Source of bank NPS scores: Forbes, citing Temkin Group Insight Report, NPS Benchmark Study, 2018, October 2018.
2 In an internal study, Upstart replicated three bank models using their respective underwriting policies for personal loans and evaluated their hypothetical loss rates and approval rates using Upstart’s applicant base in late 2017. Such results represent the average rate of improvement exhibited by Upstart’s platform against the three respective bank models.
3 Based on an internal study conducted in June 2020 that compared the difference in hardship rate for a population of borrowers on Upstart segmented by both credit score and Upstart Risk Grade. When segmented by Upstart Risk Grade, the resulting difference in hardship rate between high risk and low risk borrowers is 600 bps. By comparison, when segmented by credit score, the resulting difference in hardship rate between high risk and low risk borrowers is only 90 bps.