Tricolor Financial is now leveraging a tool from Digital Matrix Systems (DMS) so it can continue to improve as an artificial intelligence-driven, tech-enabled Community Development Financial Institution (CDFI) focused on providing auto financing for underserved Hispanic consumers.

This week, DMS announced that Tricolor has chosen to use CreditBrowser, a web-based data access tool that can provide clients with efficient access to credit reports delivered in an easy-to-read proprietary format. 

DMS highlighted that CreditBrowser can eliminate the need for additional software, by enabling report access via a standard internet browser for an intuitive experience with streamlined navigation. 

The company also pointed out that delivery of complete, accurate and easy-to-read credit reports can reduce errors and improve readability of business-critical information, which can empower clients to make the best possible underwriting decisions.

Tricolor will leverage CreditBrowser to access additional credit report data in support of its mission to provide affordable auto financing to underserved Hispanic customers. 

Since Tricolor’s inception, the company has originated more than $1 billion in contracts.

“Digital Matrix Systems will be a great partner to us as we continue to evolve our lending platform and analytics capabilities,” Tricolor chief lending officer Nick Brown said in a news release.

“The CreditBrowser platform will enable us to easily expand our access to additional credit bureaus and other data sources, which we anticipate will help us manage risk effectively while also meeting the unique needs of our customer base,” Brown continued.

Digital Matrix Systems senior vice president of business development Carson York added in the same news release: “We’re excited to work with the team at Tricolor. We are proud to help them serve an underserved market and look forward to expanding our partnership as they continue to advance their use of both credit and alternative data sources.”