DALLAS, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Tricolor, the nation’s largest used vehicle retailer focusing on the sale and financing of vehicles to the Hispanic consumer, today announced that it has appointed industry veteran Don Goin as its Chief Technology Officer. Goin will lead Tricolor’s digital transformation as it continues to scale and expand its industry-leading direct-to-consumer lending model and explore new applications.

“Don has continually distinguished himself as an innovator and leader in our industry, and I am thrilled to welcome him to the team,” said Tricolor CEO Daniel Chu. “He will be instrumental in advancing our digital strategy across all of our core processes and enhancing the scalability of our platform.”

During a twenty-five-year career in technology, Goin served as the Chief Information Officer at Santander Consumer USA for more than twelve years, leading all technology strategy and execution for one of the fastest growing lenders in the sub-prime auto industry. As Chief Information Officer at Capital One Auto Finance, he co-led the creation of an innovation center while integrating technology to accelerate market capabilities and transform solution delivery. 

Tricolor has continued to expand its proven model for underwriting thin and no file Hispanics in innovative ways. The company has partnered with artificial intelligence providers to advance its underwriting capabilities while exploring new applications for its ability to efficiently extend affordable loans to customers.

Goin acknowledged his new role, saying: “Tricolor has created a truly distinct value proposition. I look forward to creating a complete and thoroughly modern digital customer journey that will transform our market.”

According to the Consumer Financial Protection Bureau (CFPB), 26 million people in the United States are “credit invisible” and an additional 19 million are “unscoreable,” corresponding to a total of 45 million people in the United States whose lack of a credit score translates into limited options in terms of accessing financing for a major purchase such as a motor vehicle.

Since its founding in 2007, Tricolor empowers its customers by providing access to affordable financing on high quality, certified vehicles in order to enhance the quality of their lives and ultimately help them to build a better future. On a combined basis, Tricolor and its sister brand Ganas have served more than 45,000 customers and disbursed nearly $900 million in affordable auto loans by using its proprietary model to segment risk.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

For more information about Tricolor and Ganas, please visit tricolor.com and ganas.com.

About Tricolor

Tricolor is a mission-driven company which sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California, utilizing advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.

Headquartered in Dallas, Tricolor, together with its affiliate, Ganas Auto Group, operate thirty retail dealerships across twelve markets in Texas and California, as well as a shared services center in Guadalajara, Mexico. 

Stephanie Hicks
Cosmo PR for Tricolor
(805) 295-9455