TORONTO and MONTREAL, Feb. 20, 2023 /CNW/ - DecisioningIT proudly announces that Equifax, Canada's leading credit bureau, is now available within its predictive decisioning platform. This seamless integration gives consumers confidence that their creditworthiness is being established using the most current and accurate credit data.
Credit Data Powered by Equifax, Decisions Powered by DecisioningIT. By combining artificial intelligence and human data, DecisioningIT aims to enhance the digital car buying & financing experience.
No longer do car shoppers need to stress about whether they can get the vehicle they need for their day-to-day lives.
DecisioningIT makes vehicle financing worry-free by providing dealers with the tools needed to give customers the ability to pick the vehicle they need, get the best pre-qualified personalized financing term options and drive away happy.
Thanks to Lucy, a DecisioningIT platform that allows dealers to transparently help prime and non-prime consumers find the best financing options to buy the vehicle they need.
Lucy's predictive AI technology provides the best financial solution based on the consumer's credit profile in just seconds.
It searches several lenders, even those outside the dealership ecosystem. For example, if Lucy finds a non-partner lender that will pre-qualify the customer at a more attractive financing option, the dealership can apply to be a partner with that lender through Lucy. That ensures the customer is provided with all the possible lending options available to them, which is in the customers best interest.
Best of all, DecisioningIT's platform works whether the customer is looking for a new or used vehicle or are a prime or non-prime consumer. The options go on and on for them.
DecisioningIT can also work with a dealer's in-house financing system. Lucy is versatile — it can fit within any platform the dealer has. No overhaul is needed.
Why is it important to ensure customers are given the opportunity to find the best financing option? One-third of Americans and one-in-five Canadians are non-prime consumers. And long-existing worries around the ability to finance their vehicle purchase have only escalated. Costs for consumers are going up. Inflation has taken a bite out of their spending power. Rising interest rates are making financing more difficult. The economic environment isn't favourable to them. Average vehicle prices — both new and used — are at historic heights.
Times are tough. And a strong solution is needed. That's where Lucy can make all the difference for a dealer and the customer, opening the door for more customer's to get behind the wheel of a new car.
Lucy manages customer documents, financing information and bank statements as well. This will ease the burden between F&I managers and service managers and lenders when it comes to getting financing for just about any client who wants to buy a vehicle.
"Anywhere you go, you have options on how to finance your purchase — but this doesn't always exist when you want to buy a car," said Rosa Hoffmann, the chief executive officer of DecisioningIT. "We are making it possible for consumers of all kinds — prime or non-prime — to get the vehicle they need with more transparency. Dealers can now attract and retain that customer, and satisfy them in ways they never could before."
SOURCE DecisioningIT
Stephanie Nagy, 416-814-3450 ext 201, [email protected]
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