Tricolor Auto Acceptance CEO Daniel Chu to speak at the Auto Finance Innovation Summit
The Summit is live at the Intercontinental San Diego on April 25-26
The Auto Finance News team is pleased to announce that Daniel Chu, chief executive and founder of Tricolor Auto Acceptance, will discuss case studies for artificial intelligence (AI) and machine learning (ML) in auto finance at 3:45 p.m. on Monday, April 25, at the Auto Finance Innovation Summit.
Tricolor’s AI and ML model allows the financier to reach thin- and no-file Hispanic consumers who may not normally qualify for credit under traditional parameters. The company has served more than 90,000 customers and provided nearly $2 billion in auto loans using its proprietary risk model.
In a testament to the lender’s AI-powered underwriting practices, Tricolor received its first AAA rating on its August 2021 $234 million asset-backed securities deal.
Dallas-based Tricolor in September 2021 also secured a $90 million convertible preferred equity investment to scale Tricolor Financial, the company’s software-as-a-service (SaaS) venture. Financial institutions can license Tricolor Financial’s proprietary AI and ML capabilities to underwrite loans and reach credit-invisible consumers.
Chu has led seven companies in his career and has founded two other firms in the auto financial services industry.
The 2022 Auto Finance Innovation Summit returns live at the Intercontinental San Diego on April 25-26. The agenda can be viewed here.
More information on the Summit is available here. Register for the event here.
