Upstart, Cobalt Credit Union Partner to Expand Digital Lending, AI-Powered Loan Solutions

Upstart Holdings Inc. (NASDAQ:UPST) is one of the best AI stocks to buy according to hedge funds. On June 25, Cobalt Credit Union announced a partnership with Upstart. The collaboration aims to broaden Cobalt’s digital reach and provide more accessible and tailored loan solutions, such as personal loans, Home Equity Lines of Credit (HELOCs), and auto refinance loans.

Cobalt Credit Union initiated its lending activities on the Upstart Referral Network in March this year, with plans to introduce auto refinance loans later in the year. Through this network, qualified loan applicants on Upstart.com who align with Cobalt’s credit policies will receive customized offers and seamlessly transition into a Cobalt-branded online application and closing experience.

Cobalt will also continuously acquire portfolios of HELOCs from Upstart’s affiliate, called Upstart Mortgage. Upstart’s AI models and cloud applications enable lenders to approve more borrowers at lower rates. More than 90% of loans facilitated through Upstart are fully automated and require no human intervention.

Upstart Holdings Inc. (NASDAQ:UPST) is a cloud-based AI lending platform in the US. Cobalt Credit Union is a prominent financial institution.

While we acknowledge the potential of UPST as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.