Upstart Launches the Upstart Macro Index

About this update from Upstart Holdings, Inc.

[{"type":"text","content":" SAN MATEO, Calif.--(BUSINESS WIRE)--\nUpstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending marketplace, today announced the launch of the Upstart Macro Index (UMI). In an industry first, UMI is designed to estimate how changing macroeconomic conditions, such as personal savings rate, inflation, and unemployment, are impacting the credit performance of Upstart-powered loans.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230322005633/en/Upstart Macro Index (UMI) (Graphic: Business Wire)\n“To date, it’s been difficult for lenders to isolate the impact of the macroeconomy on their loan portfolios,” said Dave Girouard, co-founder and CEO of Upstart. “By publishing UMI each month, we can provide our lenders with near real-time insight into the financial health of American consumers, allowing them to adjust their lending programs accordingly.”\n\nUMI is enabled by Upstart’s patented AI loan-month model, which estimates the likelihoods of loss and prepayment for each month of every Upstart-powered loan. The precision of its AI-enabled models has enabled Upstart’s machine learning team to isolate and estimate the impact of the macroeconomy on losses within Upstart-powered loan portfolios.\n\nUMI will be published monthly at www.upstart.com/umi. The site includes a detailed explanation of the metric, downloadable UMI data back to 2017, and the option to subscribe to monthly UMI updates. Like other economic indicators, prior UMI values are subject to revision. Because Upstart’s risk models are regularly calibrated to conservatively account for the most recent trend in UMI, UMI is not a measure of the performance of loans originated on the Upstart platform.\n\nTo learn more about how Upstart can help your bank or credit union provide all-digital lending enabled by AI, please visit www.upstart.com/lenders.\n\nAbout Upstart\n\nUpstart (NASDAQ: UPST) is a leading AI lending marketplace partnering with banks and credit unions to expand access to affordable credit. By leveraging Upstart’s AI marketplace, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates across races, ages and genders, while simultaneously delivering the exceptional digital-first lending experience their customers demand. More than two-thirds of Upstart loa...

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