Lenders in financial services recognize the potential of artificial intelligence (AI) to transform underwriting and fraud detection — but one major hurdle to the broader adoption of these models has been concern over credit performance during an economic downturn. 

Over the last year, the economic stress from COVID-19 provided the opportunity to observe the performance of an AI underwriting model. 

Download this report for a deep dive into AI-enabled underwriting performance during the 2020 pandemic. You’ll learn how:

• At the peak of the crisis, impairment increased 40% less than the industry as a whole
• Fewer borrowers required a hardship program, and more of these borrowers began promptly making on-time payments
• The Upstart Risk Tier was 6 times more effective than credit score bands at separating the risk of payment impairment
• The ability for their AI model to separate risk tiers translated into significantly lower payment impairment rates for bank partners

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