Berkshire Hills Bancorp has announced that its subsidiary Berkshire Bank has joined forces with artificial intelligence (AI) lending platform Upstart.

Berkshire Bank seeks to leverage Upstart’s AI platform to offer personal credit, risk-based credit decisions and approve more creditworthy borrowers while reducing cost.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Upstart’s digital lending platform and referral networks are expected to augment Berkshire Bank’s consumer lending options.

Berkshire Bank CEO Nitin Mhatre said: “With an exceptional all-digital personal loan experience, it will make credit more accessible and aligns with our focus on reaching more people in our communities while helping grow our consumer lending business.”

The partnership is part of Berkshire’s Exciting Strategic Transformation (BEST) plan.

Berkshire Bank, which has $11.7bn in assets, became Upstart’s lending partner in August 2021.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

US-based Upstart partners with lenders to offer data-driven insights and is said to enable broader distribution of lending options.

Upstart CEO and co-founder Dave Girouard said: “For hundreds of years, credit has represented opportunity and mobility for those seeking what’s next in their lives. Whether it’s to learn a new skill, relocate to a new city, start a new business, or buy a new home or car, the price of credit is the price of opportunity and mobility. It’s the price of what’s next.”

Last month, Upstart launched a Spanish version of its digital lending platform to better cater its services to the Spanish speaking population in the US.