Definition
Use of machine learning models to assess credit risk and price/originate consumer loans, often as the core of fintech lending platforms.
Warning
Do not imply OCC certified AI underwriting fairness; conditional charter is a process milestone.
Key Points
- Upstart positions Upstart Bank as first nationally chartered bank built from the ground up with AI-powered underwriting
- OCC charter approval does not equal endorsement of model fairness/outcomes
- Fair-lending and algorithmic bias remain ongoing regulatory/ethical issues