Hi Fools,
Sandbox Banking Announces Alliance Partnership with Upstart
https://www.prnewswire.com/news-releases/sandbox-banking-ann…
Cheers,
mpfd
25 Likes
Interesting, I thought this was another bank partner of UPST, but this is actually a tech company that helps banks.
About Sandbox Banking:
Sandbox Banking offers Banking as a Service (BaaS) infrastructure to banks, vendors and fintechs. The Sandbox platform helps customers build, manage and monetize banking-as-a-service APIs.
[The two] today announced a partnership that will enable Upstart to help its bank and credit union partners to more efficiently integrate Upstart loan and borrower data into their core and CRM systems.
Sandbox Banking enables banks and fintechs to integrate solutions to create a streamlined end-to-end solution for their customers on its Glyue API platform with pre-built adapters and solution templates to accelerate the rate of integration.
“Our Glyue platform allows Upstart and Sandbox Banking to build an integration to core and CRM systems once, to then serve a larger bank and credit union customer base.”
Overall it seems this should reduce the friction for new partner banks to sign up for UPST’s platform. This could possibly reduce the ramp up time for new partner banks and make it easier for more banks to say yes to UPST. Good news for expansion.
23 Likes
An interesting page here:
Look at who their other partners are: Jack Henry, Fiserv, First Data.
It looks like these folks make the apps you see when you want to apply for a loan or open an account. Then if you are in the bank/CU office for a loan, and someone says, “let me check your credit and available rates”, one of the apps on the computer will be for Upstart. They can push the FICO button and an Upstart button. “It looks to me like your best rate will be y.xx% if you go through Upstart”.
10 Likes