DALLAS, April 30, 2019 (GLOBE NEWSWIRE) -- Tricolor, the nation’s largest used vehicle retailer focusing on the integrated sale and financing of vehicles to Hispanic consumers, today announced the addition of veteran Equifax and financial services executive Dann Adams to its Board of Directors. Adams will help guide Tricolor’s growth as it explores new models and applications for its proven underwriting platform.
“I am thrilled to welcome Dann to the team,” said Tricolor CEO Daniel Chu. “He has a proven track record of creating new data assets; helping industries identify greater risk transparency; and developing insights that help consumers gain greater access to credit. We believe his in-depth understanding of the unbanked consumer will help us expand our application of alternative data and artificial intelligence.”
A 20-year veteran of Equifax, Adams currently serves as president of the company’s Global Consumer Solutions business unit, and is a previous president of the company’s Workforce Solutions and former Consumer Information Solutions business units. In addition, he has been instrumental in developing Equifax industry data exchanges focused on small businesses, telecommunications and utilities, as well as income and employment verification services.Prior to joining Equifax in 1999, Adams held various leadership positions in sales, sales management and product marketing at Dun & Bradstreet Information Services.
“Through its use of data and novel technologies, Tricolor has enabled a vastly underserved market to access affordable credit,” said Adams. “I am excited to combine what I’ve learned about the unique needs of the unbanked consumer and the hourly worker with the risk assessment model of the Tricolor platform. In addition, I’m inspired by the opportunity to help others gain access to affordable credit and create enormous value.”
Tricolor’s proven and proprietary credit decisioning engine serves as the foundation for a new direct lending model for subprime Hispanic customers. Its segmentation model assesses unique, non-traditional attributes for no credit and low-income consumers in order to assess intent and ability to repay.
Tricolor has recently begun to build upon its proven model for underwriting thin and no file customers in innovative ways. The company has also partnered with an artificial intelligence provider, Phenx Machine Leraning Technologies, to advance its underwriting capabilities.
About Tricolor
Founded in 2007, Tricolor is a mission-driven company that sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California. It utilizes advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.
Headquartered in Dallas, Tricolor, together with its affiliate, Ganas Auto Group, operate thirty retail dealerships across twelve markets in Texas and California, as well as a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served nearly 50,000 customers and disbursed nearly $1 billion in affordable auto loans by using its proprietary model to segment risk.
For more information about Tricolor and Ganas, please visit Tricolor.com or Ganas.com
CONTACT INFORMATION
Stephanie Hicks
Cosmo PR for Tricolor
(805) 295-9455
stephanie@cosmo-pr.com