First National Bank of Omaha Expands Personal Loans Powered by Upstart
Upstart has expanded its partnership with First National Bank of Omaha (FNBO) to enhance its personal loan program nationwide. Following a successful pilot program that achieved high approval rates and customer satisfaction, FNBO aims to utilize Upstart's AI platform to improve access to affordable credit for more borrowers. Currently, 78% of loans are approved instantly. The focus is on delivering a modern, digital lending experience while also planning to serve customers through affinity partners.
- Expansion of partnership with FNBO, increasing access to affordable credit.
- High approval rates and customer satisfaction with an NPS of 83.
- 78% of loans approved instantly through Upstart's AI platform.
- None.
AI lending platform enables bank to expand access to affordable credit for borrowers nationwide
Quote from
After a successful pilot program with Upstart in 2019 during which the program’s approval rates and loss rates met or exceeded expectations, along with an exceptional level of customer satisfaction, with a Net Promoter Score (NPS) of 83, FNBO has expanded its program with Upstart to broaden access to affordable credit, reach more borrowers and serve more customers nationwide. Through Upstart’s AI lending platform, FNBO has been able to approve more creditworthy borrowers, with
“FNBO is focused on delivering modern capabilities to our consumers that make capital more accessible and help them with their credit needs,” said
“With proven results through Upstart’s AI lending platform, our partnership with FNBO has grown from an initial pilot to a full-scale nationwide program for personal loans,” said
Through the Upstart Referral Network, individuals come to upstart.com to apply for a personal loan. Once qualified applicants are approved, they are matched with and displayed credit offers from FNBO and seamlessly transition to complete their application and closing process with FNBO. In addition, FNBO plans to also use the Upstart platform to provide AI-powered personal loans to serve more customers through its affinity partners.
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Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to, statements regarding the use of the Upstart platform to serve customers through FNBO’s affinity partners. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "plan", anticipate", "estimate", "expect", "project", “project”, "intend", “target”, “aim”, "believe", "may", "will", "should", “could”, "can have", "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward-looking statements give our current expectations and projections relating to plans, objectives, assumptions, risks, future performance and business. Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The forward-looking statements included in this press release relate only to events as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected. More information about factors that could affect our results of operations are described in greater detail in our public filings with the
1Based on Upstart data from
View source version on businesswire.com: https://www.businesswire.com/news/home/20211208005384/en/
klangin@fnni.com
mike.nelson@upstart.com
Source: Upstart
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