Upstart Holdings, Inc. Stock Price, News & Analysis

Upstart (NASDAQ: UPST) has been selected by Mercedes-Benz as an approved digital retail provider for their dealerships across the U.S. This partnership enables Mercedes-Benz dealers to utilize Upstart's innovative car-buying software, enhancing the customer experience with seamless online and in-store shopping. The digital-first approach aims to build trust and increase the speed and transparency of the purchase process. Mercedes-Benz is the ninth original equipment manufacturer (OEM) to partner with Upstart Auto Retail, joining brands like Acura and Honda. Upstart is known for its AI-driven lending marketplace, allowing banks and credit unions to deliver affordable credit with higher approval rates.

Upstart Holdings, Inc. (NASDAQ: UPST) announced it will release its first quarter fiscal year 2023 business and financial results on May 9, 2023 after the market close. A conference call and live webcast will be held on the same day at 1:30 p.m. PT / 4:30 p.m. ET. Interested parties can find the earnings press release and investor presentation on Upstart’s investor relations website before the call. The company, known for its AI-driven lending platform that partners with banks to improve access to credit, aims to boost approval rates and reduce loss rates across demographics. Founded in 2012 by former Google employees, Upstart is headquartered in San Mateo, California, and Columbus, Ohio.

CorePlus Federal Credit Union has partnered with Upstart (NASDAQ: UPST) to enhance its personal loan offerings, aiming to reach more members in Connecticut and beyond. This collaboration, which continues from their previous partnership initiated in April 2022, allows qualified loan applicants on Upstart.com to receive tailored offers that transition them into a CorePlus-branded application process. CorePlus emphasizes its commitment to financial wellness and aims to provide a modern, all-digital lending experience. Upstart's AI lending platform is designed to improve approval rates and reduce loss rates, ensuring an efficient lending process for borrowers. CorePlus currently serves over 28,000 members and manages $332 million in assets, aiming to leverage this partnership for greater member acquisition and loan approvals.

Upstart (NASDAQ: UPST) has launched the Upstart Macro Index (UMI), a pioneering tool measuring the influence of macroeconomic factors like savings rates and unemployment on the performance of loans generated via its platform. UMI will be updated monthly, providing lenders with insights to enhance their lending strategies based on real-time consumer financial health. Utilizing its patented AI loan-month model, Upstart can accurately gauge risks, thus benefiting its bank and credit union partners. UMI data dating back to 2017 will be freely accessible online, enabling subscribers to stay informed on these macroeconomic impacts.