Futr signs first data deal with U.S. auto lender

Executive Summary

• The Futr Corp. has signed its first brand contract to provide comprehensive data to a national U.S. auto lending platform, marking a significant commercial milestone for the company.
• The agreement involves leveraging Futr's data to identify equity, historical interest rates, and market rates to proactively generate personalized refinancing offers for consumers.
• The partnership is structured in three phases, starting with existing customers and expanding to historical users and eventually the broader American population via the Futr AI Agent app.

Key Details

• Counterparty: A national U.S. auto lending platform with access to over 60 lenders and 3,000 independent auto dealers.
• Contract Status: First brand contract for data for The Futr Corp.
• Data Usage: The platform will use Futr's comprehensive data to identify asset equity, historical interest rate/payment experience, and current market rates to make timely refinancing offers.
• Initial Scope: Offers will initially target automobile refinancing, with plans to expand to personal watercraft, motorcycles, and other movable asset classes.
• Payment Integration: Customers accepting offers will automatically leverage Futr Payment rails to optimize and automate new loan payments, creating an end-to-end solution.
• Phase 1 Audience: Existing 43,000-plus Futr Payments customers who have active auto loans facilitated by Futr Payment rails.
• Phase 2 Expansion: Broadening the program to include 250,000-plus historical customers.
• Phase 3 Expansion: Leveraging the Futr AI Agent app (post-closed beta launch) to offer opportunities to any American with an auto lease/loan (88 million-plus).
• Revenue Model: Futr expects to receive between $50 (U.S.) to $350 (U.S.) per successful refinancing.
• Technology Integration: The delivery of data and leads will leverage the previously announced integration with the Futr data protocol and Futr utility token to enrich lead quality.
• Data Differentiation: The data is derived from the Futr Vault, which uses Intelligent Document Processing (IDP) to extract structured and unstructured data from life documents, providing higher-quality and highly accurate data.

Notable Quotes

• "We are excited to begin executing on our thesis that our Futr AI Agent app has the potential to completely change the digital advertising and lead generation landscape. Our Futr Vault, a key component of the Futr AI Agent app, has intelligent document processing (IDP) capabilities which extracts structured and unstructured data from the life documents managed in the app. The data is materially differentiated due to its higher-quality and highly accurate nature," said Alex McDougall, president of The Futr.