Montreal, Canada
DecisioningIT is a Canadian SaaS startup that is disrupting the automotive lending industry with its cutting-edge predictive technology. Founded in 2021, the company’s mission is encapsulated in its slogan: “DecisioningIT is democratising consumer access to financing by using predictive technology to forecast lender decisions.”
Their flagship product, the Lucy F&I Platform, utilizes artificial intelligence to transform the vehicle financing landscape. The platform boasts an impressive capability, automatically pre-qualifying 85% of customers within 16 seconds, independent of credit score, thereby saving significant time for dealerships. This is crucial, as 81% of applications with scores below 675 typically face declines. The Lucy Platform excels by reducing these declines by 50%, catering to the oft-overlooked non-prime market.
The innovative approach of DecisioningIT highlights a gap in AI-driven loan origination in the non-prime segment, where manual checks persist in 35-40% of cases. By removing the dependency on manual decisioning, Lucy is a game-changer for both dealerships and consumers.
