Lucy pre-approves 85% of customers in 16 seconds, regardless of their credit history
Lucy is a fintech framework that enables dealers to dynamically match a borrower to various financial institutions’ credit parameters. This improves conversions and allows for risk mitigation for financial institutions to get more consumers financed.
Lucy acts as a customer credit management (CCM) platform that manages every aspect of the non-prime communications funnel for the acquisition and nurturing of clients.
Artificial intelligence (AI) makes it possible for Lucy to learn from experience, adjust to new inputs from lenders & credit bureaus and perform human-like tasks. Today, Lucy’s engine uses deep learning and natural language processing to learn from consumers’ applications and lender decisions. Originally, half of Lucy’s decisioning power came from industry experience provided by real F&I managers, over a period of 5 years. The other half, which has now risen to 80%, is based on learnings Lucy does daily on thousands of processed lender applications. Such an approach also enables the Lucy team to do post-hoc analysis of its engine and determine the accuracy and precision of its algorithms.