SAN MATEO, Calif., April 28, 2021 /PRNewswire/ -- Upstart
(NASDAQ: UPST), a leading artificial intelligence (AI) lending
platform, today announced Drummond Community Bank, a premier
institution serving Florida
communities since 1990, has partnered with Upstart to provide
personal and auto loans to better serve their customers and
community.
Drummond Community Bank became an Upstart bank partner in
March 2021 and will be offering
personal loans and auto loan refinancing powered by Upstart's
all-digital, AI-lending platform on its bank website.
"Drummond Community Bank is partnering with Upstart to enhance
credit access to improve the financial lives of people in our
community," said Matthew Gallman,
Vice President and Enterprise Risk Officer at Drummond Community
Bank. "With Upstart's AI lending platform, we will be able to
identify and lend to more people in our community who can benefit
from affordable credit."
As an Upstart bank partner, Drummond Community Bank will also be
part of the Upstart Referral Network. With the Upstart Referral
Network, qualified personal loan applicants on Upstart.com who meet
Drummond Community Bank's credit policies and risk parameters
receive tailored offers as they seamlessly transition into a
Drummond Community Bank-branded experience to complete the online
application and closing process.
"We are excited to have Drummond Community Bank be part of the
Upstart family of bank partners," said Michael Lock, SVP of Bank Partnerships for
Upstart. "Through our AI lending platform, Drummond Community Bank
will be able to offer its customers an all-digital personal and
auto refinance experience that consumers today expect."
To learn more about Upstart for Banks and the Upstart Referral
Network, please visit https://www.upstart.com/for-banks/ and watch
this video.
About Upstart
Upstart (NASDAQ: UPST) is a leading AI
lending platform partnering with banks to expand access to
affordable credit. By leveraging Upstart's AI platform,
Upstart-powered banks can have higher approval rates and lower loss
rates, while simultaneously delivering the exceptional
digital-first lending experience their customers demand. More than
two-thirds of Upstart loans are approved instantly and are fully
automated. Upstart was founded by ex-Googlers in 2012 and is based
in San Mateo, California and
Columbus, Ohio.
About Drummond Community Bank
Drummond Community Bank
is a state-chartered financial institution in northern Florida with total assets exceeding
$800 million. Drummond offers a wide
range of business and personal services and products to the
communities through 19 office locations in 10 Florida counties. For more information on the
bank, please visit Drummond Community Bank's website at
drummondbank.com.
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SOURCE Upstart