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DecisioningIT mission is to create a new standard in automotive lending. By combining artificial intelligence and human data, we are changing the way consumers get financed. What started as an idea became a solution.
About Lucy
DecisioningIT’s revolutionary Lucy F&I Platform is an innovative solution that is transforming the way automotive dealerships help their customers with financing. The tool gets 85% of customers automatically pre-qualified in seconds, regardless of their credit history (prime or non-prime). This process takes only 16 seconds and saves dealerships a lot of time and effort.
81% of finance or lease applications with a score below 675 are declined by dealerships. DecisioningIT’s Lucy Platform results are remarkable as it also reduces financing declines by 50%. Today, most declines are due to a lack of experience and understanding of the non-prime space by the dealerships’ F&I managers.
AI has efficiently helped financial institutions with their prime credit consumers. Loan originations are over 70% decisioned by AI-driven solutions and it will grow to 90%+ in the coming years. But the non-prime segment has much lower AI-driven decisions made. And that’s because manual checks, made by humans, are still needed in 35 to 40% of cases. Previously, dealerships had to wait for financial institutions to make decisions, but that is no longer the case since Lucy can predict what they will be.
To build such technology, DecisioningIT brought together a team of finance and insurance (F&I) managers and IT developers to transfer knowledge and build Lucy as a group. This solution brought science to a process that was dependent on people and their experience.
By helping dealerships, Lucy also helps consumers who need a vehicle. Lucy is a transparent, win-win solution.
Company Details
- Employees
- 11
- Founded
- -
- Address
- Montreal, Ca
- Industry
- Financial Services
- Website
- https://www.decisioning.it/
- HQ
- Montreal
Decisioningit Questions
DecisioningIT's website is https://www.decisioning.it/
DecisioningIT's LinkedIn profile is https://ca.linkedin.com/company/decisioningit
DecisioningIT has
11 employees.
View email and phone details for 11
employees at DecisioningIT.
DecisioningIT's industry is
Financial Services
DecisioningIT's top competitors are
Medscures,
Haze Automotive,
Cars Commerce,
Openlane,
Autocorp.ai,
Groupe Côté Automobile,
Canadian Black Book,
Tekion Corp,
Heyauto,
Phonak Canada.
DecisioningIT's categories are Financial Services
DecisioningIT's founding year is 2021
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