Benzinga | Sep 21, 2021 01:35PM EDT

Why Upstart Shares Are Rising

Upstart Holdings Inc (NASDAQ:UPST) shares are trading higher by 10.3% at $323.60 despite a lack of company-specific news from the session.

WSFS Financial Corporation (NASDAQ:WSFS) today announced it has launched a digital personal loans product powered by Upstart.

WSFS says this partnership with Upstart expands the bank's personal loan offerings to a wider, more inclusive customer base while diversifying its business and creating more digital-friendly customer experiences.

"WSFS Bank is excited to partner with Upstart, combining their leading technology with our nearly 200 years of experience as a service-oriented, locally-managed bank, to deliver a fast, easy experience to reach and serve our customers wherever they are," said Jim Wechsler, Senior Vice President, Chief Retail Lending Officer at WSFS Bank.

"With Upstart's platform, we're continuing our Delivery Transformation, an investment in our technology and delivery systems to meet the evolving needs of our customers. Through this partnership, we're providing a more affordable personal loan solution that meets the unique needs of our diverse communities across the Greater Philadelphia and Delaware region," Wechsler stated.

Upstart provides credit services. The company provides a proprietary, cloud-based and artificial intelligence lending platform.

Upstart has a 52-week high of $326.00 and a 52-week low of $22.61.