Mascoma Bank, a $2.6 billion mutual bank and Certified B-Corporation serving Northern New England, announced that it has partnered with Upstart, a leading artificial intelligence (AI) lending platform, to offer AI-powered personal l**** to more people.
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“As Mascoma Bank expands the ways to best serve Northern New England, the partnership with Upstart allows us to diversify within the consumer lending space through a new personal loan offering,” said Ken Wells, Chief Retail Lending Officer for Mascoma Bank. “Through Upstart’s AI lending platform, Mascoma Bank will be able to reach and lend to more creditworthy borrowers while providing an all-digital modern consumer lending experience.”
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As a new Upstart lending partner since March 2022, Mascoma Bank will be part of the Upstart Referral Network. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Mascoma Bank’s credit policies receive tailored offers as they seamlessly transition into a Mascoma Bank-branded experience to complete the online application and closing process.
“We are excited to have Mascoma Bank as a new lending partner on the Upstart Referral Network,” said Michael Lock, SVP of Lending Partnerships for Upstart. “Through our partnership, Mascoma Bank will be able to reach and provide access to affordable credit to more consumers in Northern New England.”
Upstart (NASDAQ: UPST) is a leading AI lending platform partnering with banks and credit unions to expand access to affordable credit. By leveraging Upstart’s AI platform, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates for every race, ethnicity, age, and gender, while simultaneously delivering the exceptional digital-first lending experience their customers demand. More than two-thirds of Upstart l**** 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.
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