Drummond Community Bank Selects Upstart for Personal and Auto Lending
April 28 2021 - 9:00AM
Business Wire
AI-powered, digital-first personal and auto
lending experience to serve more customers
Upstart (NASDAQ: UPST), a leading artificial intelligence (AI)
lending platform, today announced Drummond Community Bank, a
premier institution serving Florida communities since 1990, has
partnered with Upstart to provide personal and auto loans to better
serve their customers and community.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210428005383/en/
(Photo: Business Wire)
Drummond Community Bank became an Upstart bank partner in March
2021 and will be offering personal loans and auto loan refinancing
powered by Upstart’s all-digital, AI-lending platform on its bank
website.
“Drummond Community Bank is partnering with Upstart to enhance
credit access to improve the financial lives of people in our
community,” said Matthew Gallman, Vice President and Enterprise
Risk Officer at Drummond Community Bank. “With Upstart’s AI lending
platform, we will be able to identify and lend to more people in
our community who can benefit from affordable credit.”
As an Upstart bank partner, Drummond Community Bank will also be
part of the Upstart Referral Network. With the Upstart Referral
Network, qualified personal loan applicants on Upstart.com who meet
Drummond Community Bank’s credit policies and risk parameters
receive tailored offers as they seamlessly transition into a
Drummond Community Bank-branded experience to complete the online
application and closing process.
“We are excited to have Drummond Community Bank be part of the
Upstart family of bank partners,” said Michael Lock, SVP of Bank
Partnerships for Upstart. “Through our AI lending platform,
Drummond Community Bank will be able to offer its customers an
all-digital personal and auto refinance experience that consumers
today expect."
To learn more about Upstart for Banks and the Upstart Referral
Network, please visit https://www.upstart.com/for-banks/ and watch
this video.
About Upstart
Upstart (NASDAQ: UPST) is a leading AI lending platform
partnering with banks to expand access to affordable credit. By
leveraging Upstart's AI platform, Upstart-powered banks can have
higher approval rates and lower loss rates, while simultaneously
delivering the exceptional digital-first lending experience their
customers demand. More than two-thirds of Upstart loans 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.
About Drummond Community Bank
Drummond Community Bank is a state-chartered financial
institution in northern Florida with total assets exceeding $800
million. Drummond offers a wide range of business and personal
services and products to the communities through 19 office
locations in 10 Florida counties. For more information on the bank,
please visit Drummond Community Bank’s website at
drummondbank.com.
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Brenda Manea brenda@bamtheagency.com
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