DALLAS -

Tricolor now has quite an accolade on its digital mantle.

The company announced on Wednesday that it has been named the LendIt Fintech Industry Award winner for Excellence in Financial Inclusion. Tricolor highlighted that it was honored for its use of advanced technology as the core of a purpose-driven model that significantly and measurably improves physical and financial mobility for the millions of underserved Hispanics in America.

Tricolor said through a news release that 60 million Hispanics live in the United States, yet more than a third have no or limited access to mainstream credit, creating financial and transportation challenges for a fast-growing segment of the American population that is forecast to make up more than 30% of the U.S. workforce by 2060.

Tricolor leverages artificial intelligence, nearly 15 years of proprietary customer insights and more than 23 million unique non-traditional credit attributes to unlock financially inclusive opportunities for low-income, credit invisible Hispanics.

To date, Tricolor — a U.S. Department of the Treasury certified Community Development Financial Institution (CDFI) — said it has originated nearly $2 billion in financing as part of its mission to empower underserved Hispanics and provide them with a path to a better future through both physical and upward financial mobility.

“We are honored to be named winner of the LendIt Award for Excellence in Financial Inclusion and grateful for their recognition of our commitment to advancing financial opportunity in America,” Tricolor founder and chief executive officer Daniel Chu said. “Access to affordable credit to purchase a vehicle unlocks opportunity, and our A.I.-powered platform expands financial inclusivity for consumers.

“We believe that when barriers to economic equality are lifted, everyone benefits. We will continue to grow in service to our mission and to help our customers more equitably pursue the American dream,” Chu went on to say.

Over the last year, Tricolor added that it has worked aggressively to expand its mission-driven, AI-powered approach to reach even more customers.

As part of this effort, the company recently launched a new software-as-a-service (SaaS) business unit named Tricolor Financial to scale the company’s proprietary scoring capability even further.

Tricolor also announced a $90 million equity investment from BlackRock to help fund these initiatives.

Tricolor Financial president Stephanie Hanson is one of the executives on deck to appear during the Auto Intel Summit, which runs from April 12-14 in Raleigh, N.C.

The event is designed to answer the question of “what's next” regarding technology impacting how vehicles are wholesaled, retailed and financed.

And you can save as much as $400 with early bird discounts available until March 14.

More details can be found at www.autointelsummit.com.

For more information about Tricolor, visit tricolor.com and tricolorholdings.com.