Upstart

eSTART Coalition Launches to Help Modernize Automotive Title and Registration Processes

Retrieved on: 
Wednesday, March 13, 2024
Retail, Security, State, Local, Technology, Other Policy Issues, Other Automotive, EV, Electric Vehicles, Online Retail, Other Transport, Public Policy, Government, General Automotive, Transport, Automotive, Public Transport, Internet, Organization, Carvana, Electronic, Notary, NADA, National Automobile Dealers Association, DMV, Upstart, MOBI, DocuSign, Security (finance)

Leading organizations from across the automotive industry today announced the formation of the Electronic Secure Title and Registration Transformation (eSTART) Coalition.

Key Points: 
  • Leading organizations from across the automotive industry today announced the formation of the Electronic Secure Title and Registration Transformation (eSTART) Coalition.
  • The eSTART Coalition is a group of stakeholders with a shared belief in the value of modernizing title and registration processes across the country.
  • eSTART is focused on driving these improvements by working with government decision-makers to advocate for modern solutions to replace the paper-based processes that currently dominate state and local DMV operations.
  • For more information about the coalition or to join, please visit www.estartcoalition.org or contact [email protected] .

Upstart Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Tuesday, February 13, 2024
Data Management, Apps, Applications, Technology, Mobile, Wireless, Software, Artificial Intelligence, Hardware, Artificial intelligence, Webcast, Upstart, Market, Conference, Upstart Holdings, GAAP, EPS, Environment, Bank

Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced financial results for its fourth quarter and fiscal year 2023 ended December 31, 2023.

Key Points: 
  • Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced financial results for its fourth quarter and fiscal year 2023 ended December 31, 2023.
  • 129,664 loans were originated, totaling $1.3 billion across our platform in the fourth quarter of 2023, down 19% from the same quarter of the prior year.
  • Conversion on rate requests was 11.6% in the fourth quarter of 2023, up from 10.5% in the same quarter of the prior year.
  • The fourth quarter 2023 adjusted EBITDA margin was 0% of total revenue, up from (11%) in the same quarter of the prior year.

Mutual Security Credit Union Selects Upstart for Personal Lending

Retrieved on: 
Wednesday, December 13, 2023
Apps, Applications, Technology, Personal Finance, Finance, Fintech, Banking, Professional Services, Software, Artificial Intelligence, Credit union, Multimedia, Artificial intelligence, Partnership, Family, SVP, Upstart

Mutual Security Credit Union (MSCU), a $390+ million financial institution serving the financial needs of western Connecticut, today announced its partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, to provide personal loans to more people.

Key Points: 
  • Mutual Security Credit Union (MSCU), a $390+ million financial institution serving the financial needs of western Connecticut, today announced its partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, to provide personal loans to more people.
  • “It allows us to extend our reach and provide a modern, digital-first experience to drive more inclusive lending within the community.”
    Mutual Security Credit Union became an Upstart Referral Network lending partner in September 2023.
  • “We welcome Mutual Security Credit Union to the family of Upstart lending partners,” said Michael Lock, SVP of Lending Partnerships for Upstart.
  • “As part of the Upstart Referral Network, MSCU is able to expand access to affordable credit to more people across its community through AI-powered personal lending.”
    To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video .

High Point Federal Credit Union Selects Upstart for Personal Lending

Retrieved on: 
Wednesday, November 29, 2023
Professional Services, Data Management, Technology, Software, Finance, Artificial Intelligence, Banking, Credit union, Multimedia, Artificial intelligence, Partnership, SVP, Bank, Upstart

View the full release here: https://www.businesswire.com/news/home/20231129345344/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20231129345344/en/
    "High Point Federal Credit Union’s mission is to provide our members personal service and affordable products that meet their financial needs throughout life’s journey," said Richard A. Yeager, President & CEO of High Point Federal Credit Union.
  • With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet High Point Federal Credit Union's credit policies will receive tailored offers as they seamlessly transition into a High Point Federal Credit Union-branded experience to complete the online member application and closing process.
  • “We are excited to welcome High Point Federal Credit Union to the Upstart family of lending partners,” said Michael Lock, SVP of Lending Partnerships for Upstart.
  • “As part of the Upstart Referral Network, High Point Federal Credit Union is able to grow its membership by offering a fast and easy personal lending experience powered by AI.”
    To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video .

REGIONAL federal credit union Selects Upstart for Personal Lending

Retrieved on: 
Wednesday, November 15, 2023
Consulting, Data Management, Banking, Technology, Professional Services, Business, Public Relations, Investor Relations, Communications, Software, Artificial Intelligence, Finance, EVP, Multimedia, Partnership, Credit union, SVP, Artificial intelligence, Bank, Upstart

REGIONAL federal credit union, a community-based credit union focused on serving Lake and Porter counties, has announced a new partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, to provide personal loan access to even more people in Northwest Indiana.

Key Points: 
  • REGIONAL federal credit union, a community-based credit union focused on serving Lake and Porter counties, has announced a new partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, to provide personal loan access to even more people in Northwest Indiana.
  • With the Upstart Referral Network, qualified personal loan applicants on Upstart.com, who meet REGIONAL's credit policies, will receive tailored offers as they seamlessly transition into a REGIONAL federal credit union-branded experience to complete the online member application and closing process.
  • “We are excited to have REGIONAL federal credit union as a lending partner on the Upstart Referral Network,” said Michael Lock, SVP of Lending Partnerships for Upstart.
  • “Through our partnership, REGIONAL is able to gain new members while providing its personal loans through an all-digital lending experience powered by AI.”
    To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video .

Upstart Announces Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Professional Services, Technology, Finance, Software, Artificial Intelligence, Banking, EBITDA, Conference, GAAP, Artificial intelligence, EPS, Webcast, Market, Upstart Holdings, Video game, Bank, Upstart

Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced financial results for its third quarter of fiscal year 2023 ended September 30, 2023.

Key Points: 
  • Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced financial results for its third quarter of fiscal year 2023 ended September 30, 2023.
  • Lending partners originated 114,464 loans, totaling $1.2 billion across our platform in the third quarter of 2023, down 34% from the same quarter of the prior year.
  • Conversion on rate requests was 9.5% in the third quarter of 2023, down from 9.7% in the same quarter of the prior year.
  • The third quarter 2023 adjusted EBITDA margin was 2% of total revenue, up from (9%) in the same quarter of the prior year.

Vesta Supports Launch of Upstart’s New Home Equity Line of Credit Product

Retrieved on: 
Tuesday, November 7, 2023
Technology, Construction & Property, Insurance, Finance, REIT, Professional Services, Software, Networks, Data Management, Residential Building & Real Estate, Artificial intelligence, API, Automation, Ecosystem, HELOC, Ambiguity, Partnership, LOS, Software as a service, Sales, Fine chemical, Renewable energy, Video game, Upstart, Vesta

Vesta, a SaaS provider of mortgage loan origination software (LOS), today announced that it partnered with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, on the successful launch of Upstart’s new home equity line of credit (HELOC) product.

Key Points: 
  • Vesta, a SaaS provider of mortgage loan origination software (LOS), today announced that it partnered with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, on the successful launch of Upstart’s new home equity line of credit (HELOC) product.
  • "Vesta’s robust APIs, ecosystem integrations, and automation capabilities were the perfect match for our tech-forward lending approach,” said Jared Jones, Upstart’s General Manager of Mortgage.
  • “The partnership between Upstart and Vesta is a testament to what can be achieved when tech-forward companies come together,” said Vesta CEO Mike Yu.
  • Working with Vesta, it can leverage a robust system that adapts, evolves, and scales according to market needs in order to reach that goal.

encurage financial network Selects Upstart for Personal Lending

Retrieved on: 
Tuesday, October 31, 2023
Technology, Personal Finance, Finance, Fintech, Banking, Professional Services, Software, Other Professional Services, Artificial Intelligence, Senior, Credit union, Artificial intelligence, Partnership, Multimedia, Bank, Upstart

View the full release here: https://www.businesswire.com/news/home/20231031683893/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20231031683893/en/
    “The encurage financial network is committed to ongoing innovation to deliver a set of leading services that enriches our credit union network, our members and the communities we serve,” said Michael Abraham, President & Chief Executive Officer of encurage financial network.
  • “Through our partnership and collaboration with Upstart, we’re able to offer an enhanced, all-digital personal lending solution to serve more people across our field of membership.”
    encurage financial network became an Upstart Referral Network lending partner in February 2023.
  • “We are excited to welcome the encurage financial network to the Upstart family of lending partners,” said Michael Lock, Senior Vice President of Lending Partnerships for Upstart.
  • “As part of the Upstart Referral Network, encurage is able to leverage AI-powered credit decisioning to approve more creditworthy borrowers and gain new members.”
    To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video .

KBRA Assigns Preliminary Ratings to Upstart Securitization Trust 2023-3

Retrieved on: 
Friday, October 20, 2023
Data Analytics, Other Professional Services, Professional Services, Insurance, Goldman Sachs, KBRA, UPST, Credit, ABS, Security (finance), Telescopic sight, Upstart

KBRA assigns preliminary ratings to two classes of notes issued by Upstart Securitization Trust 2023-3 (“UPST 2023-3”), a $194.74 million consumer loan ABS.

Key Points: 
  • KBRA assigns preliminary ratings to two classes of notes issued by Upstart Securitization Trust 2023-3 (“UPST 2023-3”), a $194.74 million consumer loan ABS.
  • UPST 2023-3 represents the 43rd ABS securitization collateralized by unsecured consumer loans originated through the online platform operated by Upstart Network, Inc. (“Upstart” or the “Company”) and the 22nd from the Upstart Securitization Trust (“UPST”) ABS program.
  • Similar to UPST 2023-2, the UPST 2023-3 securitization is sponsored solely by Upstart.
  • KBRA considered its operational reviews of Upstart, as well as periodic update calls with the Company.

UPSTART HOLDINGS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Upstart Holdings, Inc. - UPST

Retrieved on: 
Monday, October 16, 2023
Class Action Lawsuit, Banking, Legal, Professional Services, Depression, FICO, KSF, Bank, Upstart

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Upstart Holdings, Inc. (NasdaqGS: UPST).

Key Points: 
  • Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Upstart Holdings, Inc. (NasdaqGS: UPST).
  • Recently, the court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
  • KSF’s investigation is focusing on whether Upstart’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
  • About Kahn Swick & Foti, LLC
    KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms.