Our mission is to empower the Hispanic consumer to achieve the American Dream
Tricolor is a Community Development Financial Institution (CDFI) and mission-driven company, empowering its customers by providing access to affordable financing on high quality, certified vehicles, to ultimately enhance the quality of their life.
Tricolor has developed a proprietary AI-powered risk model which effectively segments the credit invisible consumer, enabling the model to “score the unscoreable”, evidenced by six well-received ABS transactions.
Tricolor leverages both data and insights gathered through direct interaction with its consumer and its competency in decision science to execute a disruptive pricing strategy which provides the Hispanic consumer with compelling value and a trusted brand.
For more than a decade, Tricolor has provided access to affordable credit to tens of thousands of borrowers through its responsible lending platform, validated by its certification by the US Treasury as a CDFI and committed to “doing well by doing good”.
Vast, but underserved
Median age of US Hispanics, or about half of the median age for US Whites
US Hispanic population, or about 1/5 people in the US
Growth rate of US Hispanic population vs. non-Hispanics
US Population that is unbanked or underbanked with limited access to reasonable credit
Global rank of the US Hispanic GDP*
Size of the US Hispanic GDP*
Percentage of US workforce growth rate from Hispanics since the financial crisis*
Greater purchase intent in response from Hispanics to a culturally targeted marketing approach
Percentage of Hispanics which don’t see brands trying to connect with them through advertising
* 2020 Latin Donor Collaborative U.S. Latino GDP Report
Financial Access is a privilege that many are not fortunate enough to participate in. This represents a tremendous opportunity for a financial services company prepared to meet the needs of the marginalized credit invisible consumer in the US today.
The Macro Trend
Current macroeconomic indicators in the US support migration to used vehicle purchases.* This trend further validates the significance of the Tricolor opportunity, as financial access is need most within this category of vehicle.
U.S. Working Class
Many Non-Hispanic working-class families throughout the country also form part the US unbanked and underbanked consumer demographic in need of basic financial services to help them succeed.
A Loyal Following
Our business model has provided thousands of our customers the opportunity to purchase quality used vehicles with fair and accessible lending terms. This results in a repeat customer percentage well above industry standards, further fueling our growth and driving down customer acquisition costs.
AI - Powered Strategy
Serves as the foundation for a new direct lending model for no-file or thin-file consumers where FICO-based models will not work. Its traditional scorecard methodology cannot generate sufficient segmentation power for this population, leaving credit invisibles subject to predatory lenders. Rather than rely on bureau data, Tricolor’s AI-powered segmentation model assesses unique, non-traditional attributes in order to predict loan performance.
With more than ten years in the auto retail industry, our brands are synonymous with integrity, quality and trust
Our Executive Team is mission driven and committed to excellence in all areas.
Founder & Chief Executive Officer
<span style="font-size: 19.2px;">Founder and CEO of Tricolor Auto Group and Tricolor Holdings. Previously, Chu founded six start-ups over his entrepreneurial career including two other successful retail automotive start-ups which both operated as public companies, including one through a strategic sale. Chu graduated from Washington University in St. Louis with a bachelor’s degree in Electrical. Engineering in 1985. He also holds a master’s degree from the University of Miami.</span>
Chief Operating Officer
Promoted to current role in 2020 where he oversees all core processes in the business, end-to-end. Sixteen years of experience in supply chain management and analytics, including eleven years in the semiconductor industry. Broad experience in S&OP process implementation, demand planning, advanced planning, and forecasting software integration. Six Sigma Black Belt After serving in the U.S. Army for six years, Goodgame earned his B.S. in Industrial Engineering from Texas A&M University in 2003.
Chief Financial Officer
Oversees the Company’s financial and administrative management, joined July 2015. Ten years working in the consumer financial products industry focusing on the unbanked/unserved and Hispanic customer. Over 20 years of senior financial officer experience within the retail and financial services industry and six years as CFO for an Investar Financial portfolio company. Kollar earned his B.S. degree from Carnegie-Mellon University and his MBA from the University of South Florida.
Chief Risk Officer
Eleven years of experience in risk management in analytics in the financial services industry. Previous experience at JPMorgan Chase, Think Finance, and Capital One. Li holds a Ph.D. in Statistics from Florida State University in 2009, a M.S. degree in Applied Mathematics from Stanford University in 2005, and a B.S. in Applied Mathematics from Tsinghua University in Beijing, China, in 2001.
Chief Customer Officer
Responsible for management of all sales operations across the Company’s entire retail footprint, from recruiting and training through the execution of its customer experience. Ten years of experience at Capital One. Six Sigma Black Belt. Perez earned his BS from Hope College, MS Engineering from Grand Valley State and his MBA from Carnegie Mellon University.
Chief Compliance Officer
Fifteen years’ of experience in compliance and risk management. Formerly Chief Risk and Compliance Officer at Exeter Finance. Twelve years at Capital One across various roles in compliance and operational risk management. Holds a B.S. degree in Accounting from Southeastern Louisiana University.
Chief Corporate Dev. & Legal Officer
Over thirty years’ of experience in various senior executive roles in both corporate development and legal. Previously spent 12 years at AT&T as Managing Director of Corporate Development overseeing over $3 billion in M&A transactions. Also served as General Counsel for Sterling Commerce and Assistant General Counsel for Sterling Software. Hoover is a graduate of Harvard Law School and earned a B.A. in Economics from Northwestern University.