DALLAS, May 19, 2021 (GLOBE NEWSWIRE) -- Tricolor, a tech-enabled Community Development Financial Institution (CDFI) and the nation’s largest used vehicle retailer and lender for the Hispanic consumer, today announced the addition of three senior leaders with decades of combined experience growing innovative brands in the auto and finance sectors to its leadership team. Cametra Thompson has joined the team as Chief Compliance Officer and Deputy General Counsel, Kartheek Veeravalli will serve as Chief Product Officer, and Sybel Pietersz has been promoted to Chief Risk Officer.
These new appointments follow the recently launched Tricolor Financial, the company’s new software as a service (SaaS) business. The appeal of this unique mission-driven, AI-powered risk scoring platform to consumer-facing businesses in adjacent industries along with increasing consumer demand for Tricolor vehicles and financing products has powered the company’s steep growth trajectory.
“We are excited to add leaders of Sybel, Cametra and Kartheek’s character and experience to our team,” said Tricolor Founder and CEO Daniel Chu. “We have proven that it’s possible to responsibly and affordably meet the needs of underserved borrowers through a combination of commitment, customer service, and technology. Now, this newly expanded senior leadership team will continuing growing our vision to serve customers across the country.”
Sybel Pietersz has been promoted to lead Tricolor’s enterprise risk management strategy as its Chief Risk Officer, after having served as Vice President of Risk and Compliance. Prior to joining Tricolor, Pietersz held a number of senior roles, including Vice President of Operational Risk at Caliber Home Loans, Vice President of Enterprise Risk Management at Exeter Finance, and Senior Vice President of Operational Risk at Citibank. Pietersz earned her B.S. degree in Psychology from Vanderbilt University.
Cametra Thompson holds a deep expertise across all aspects of regulatory compliance with more than 20 years of legal experience and over 15 years of consumer financial services regulatory experience. She most recently served as Managing Counsel at Toyota Financial Services, and was previously Vice President, Regulatory and Corporate Counsel at Comerica Bank and Senior Vice President, Regulatory and Business Controls at Bank of America. Thompson is a graduate of Harvard Law School and earned her B.A. from Stanford University.
Having spent the past 15 years building and launching successful fintech products, including risk and analytics, Kartheek Veeravalli will help lead Tricolor’s digital strategy. He previously served as a Senior Director in Product Management at Cox Automotive. Prior, Veeravalli was Chief Product Officer at Defi Solutions, where he worked with then-CEO Stephanie Alsbrooks Hanson, now President of Tricolor Financial. He joined Defi after serving as Chief Risk Manager at Think Finance. Veeravalli graduated from the Indian Institute of Technology with a degree in Civil Engineering.
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.
Tricolor’s pioneering application of AI and other advanced technologies as part of its integrated used vehicle sales and lending platform has helped to deliver high quality used vehicles at affordable loan rates for low income, credit invisible Hispanics within this market. Since its founding in 2007, the company has served over 75,000 customers and disbursed well over $1 billion in affordable auto loans using its proprietary AI-powered 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, a CDFI, is a tech-enabled, mission-driven, integrated used vehicle platform focused on the underserved Hispanic population which has become the nation’s largest used vehicle retailer and lender for the Hispanic consumer.
Tricolor empowers its customers to enhance the quality of their lives, 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.The company sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas, Nevada, New Mexico, and Arizona and Ganas Auto Group in California.
Headquartered in Dallas, Texas, Tricolor and its affiliate Ganas Auto Group operate over 40 retail dealerships across 14 markets in Texas, California, and Nevada with a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served over 75,000 customers and disbursed over $1 billion in affordable auto loans by using their proprietary model to segment risk.
CONTACT INFORMATION
Stephanie Hicks
Cosmo PR for Tricolor
(805) 295-9455
stephanie@cosmo-pr.com
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