WSFS Bank launches digital platform for personal loans, optimized

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WILMINGTON, Del. and SAN MATEO, Calif., September 21, 2021 (GLOBE NEWSWIRE) – WSFS Bank, the principal subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the launch of a digital personal loan product powered by Upstart, (NASDAQ: UPST), one of the leading artificial intelligence (AI) lending platforms. WSFS ‘partnership with Upstart extends the Bank’s personal loan offerings to a broader and more inclusive customer base while diversifying its business and creating more digitally friendly customer experiences.

“WSFS Bank is thrilled to partner with Upstart, combining its cutting edge technology with our nearly 200 years of experience as a service-oriented, locally managed bank, to deliver a fast and easy experience to reach and serve. our customers wherever they are. Said Jim Wechsler, senior vice president, director of personal loans at WSFS Bank. “With the Upstart platform, we are continuing our delivery transformation, investing in our technology and delivery systems to meet the changing needs of our customers. Through this partnership, we are delivering a more personal loan solution. affordable solution that meets the unique needs of our diverse communities in the Greater Philadelphia and Delaware area.

“We are delighted that WSFS Bank has chosen to partner with Upstart to serve the banking needs of its communities,” said Michael Lock, senior vice president of lending partnerships for Upstart. “Through our partnership, WSFS Bank is now able to reach and approve more creditworthy borrowers while providing a seamless digital experience on its own banking website.”

About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its principal subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company, headquartered in Delaware and the greater Philadelphia area. As of June 30, 2021, WSFS Financial Corporation had $ 15.1 billion in assets on its balance sheet and $ 26.7 billion in assets under management and administration. WSFS operates from 112 offices, 89 of which are bank offices, located in Pennsylvania (52), Delaware (42), New Jersey (16), Virginia (1) and Nevada (1) and provides services comprehensive financial services, including commercial banking, retail banking, cash management, and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Cash Connect®, Cypress Capital Management, LLC, Christiana Trust Company of Delaware®, NewLane Finance®, Powder mill® Financial Solutions, West Capital Management®, WSFS Institutional Services®, WSFS mortgage®, and WSFS Wealth® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States operating permanently under the same name. For more information, please visit www.wsfsbank.com.

About Upstart
Upstart (NASDAQ: UPST) is a leading AI lending platform that partners with banks to expand access to affordable credit. By leveraging Upstart’s AI platform, Upstart-powered banks can have higher approval rates and lower loss rates, while simultaneously delivering the exceptional digital lending experience that demand their customers. Over two-thirds of Upstart loans are approved instantly and are fully automated. Upstart was founded by former Googlers in 2012 and is based in San Mateo, California and Columbus, Ohio.

WSFS bank media contact: Eric Springer
[email protected]
Initial media contact: Mike Nelson
[email protected]

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