One of the biggest impediments to using AI to lend is that credit decisions are made in a black box...
Today, Upstart released their first quarterly earnings since their IPO in December. And it was a very strong quarter indeed....
The no-action letter shows that the CFPB is open to alternative data being used to expand access to credit data; Upstart will report lending and compliance information to the CFPB to mitigate risk to consumers and aid in the Bureau’s understanding of the real-world impact of alternative data on lending decision making; the no-action letter relates to enforcement of the Equal Credit Opportunity Act and Regulation B; Upstart shares in their application how powerful using data points outside of just credit reports is in reducing borrowing rates. Source
In this week’s PeerIQ Industry Update they cover the mixed economic news at the end of 2019 into early 2020;...
Upstart, who just launched their p2p lending platform a couple of months ago, has made some very interesting changes today...
Leading fintech lender Upstart went public on Nasdaq today (ticker: UPST) in a successful IPO that saw the company raise...
Upstart is a relatively new player in the marketplace lending industry and was founded in 2012. Since they began originating...
The future of lending: intuition is out, intelligence is in Noted Hedge Fund Says Crypto Hasn’t Bottomed Yet Bank of...
Upstart Co-Founder Dave Girouard talks with Forbes about alternative credit data modeling and his firm Upstart; Girouard's inspiration for Upstart came from his experience at Google where he was involved in developing algorithmic models for evaluating candidates and their potential success as Google employees; a third of Upstart's management team comes from Google and the firm is now building advanced credit models that utilize machine learning and modern technology to make credit more accessible for borrowers; the firm is targeting loan originations of $1 billion in 2017; Upstart will be at LendIt USA 2017 and is announcing a new white label software as a service product called Powered by Upstart. Source
Upstart has been steadily growing its online lending business and has now announced a new fundraising as well as the launch of a white label software as a service (SaaS) product; the fundraising will add $32.5 million in new capital from investors including: Rakuten, a large US-based asset manager, Third Point Ventures, Khosla Ventures and First Round Capital; Upstart has emerged with many significant developments in the online loan business including next-day funding and a robust proprietary credit underwriting platform built on machine learning and modern technology; with the evolution of the business, the firm has developed a new white label SaaS product called by Powered by Upstart which it is launching at LendIt USA; the service is an extension of the firm's proprietary credit underwriting system driven by machine learning and modern data science. Source