Upstart, which today uses artificial intelligence to underwrite consumer loans originating at partner banks, had described the charter as leaving those relationships alone. The replacement plan surfaced on the company's second-quarter earnings call Tuesday, when Rob Wildhack of Autonomous Research asked how Upstart Bank would operate once it launches. "Upstart Bank will be the primary originator," the spokesperson said, "significantly simplifying the process of originating a loan compared to today." Financial institutions do two different jobs for Upstart: originating and buying. For example, Castlelake-managed funds agreed on July 29 to buy up to $4 billion of Upstart loans over as much as 24 months.