Upstart Launches Recognized Customer Personalization

Upstart, a lending marketplace provider, has launched Recognized Customer Personalization (RCP) as part of the Upstart Referral Network to enable banks and credit unions to present a customized loan offer to customers who are looking for a loan on Upstart.com.

With this capability, lenders can identify when an existing customer is actively shopping for a loan, offering an opportunity for that lender to expand their relationship by making a compelling offer of credit. Features include the following:

• Instant identification of lenders' customers and their tradeline status.
• Credit offers completely tailored to existing customers, including credit box, risk tolerance, return target, loan size and terms, and geographic focus.
• The ability to choose between Upstart's AI-enabled credit decisioning or the institution's existing and approved underwriting model.

"In the current economic environment, lenders are laser-focused on retaining their customers and increasing the lifetime value of those relationships," said Michael Lock, senior vice president of lending partnerships at Upstart, in a statement. "RCP enables them to reach their existing customers in a new way, provide more value, and build loyalty."

RCP is available now for personal loans with expansion to auto loans and home equity lines of credit in the future.