Octane Recognized for Consumer Lending Innovation in 2023 FinTech Breakthrough Awards Program

Prestigious Global Awards Program Honors Fantastic Financial Technological know-how Solutions And Organizations

LOS ANGELES, March 23, 2023 /PRNewswire-PRWeb/ — FinTech Breakthrough, an impartial market place intelligence group that recognizes the top rated businesses, technologies and products in the world wide FinTech marketplace, currently introduced that Octane® (Octane Lending Inc.®), the fintech revolutionizing the acquiring knowledge for big leisure purchases, like powersports motor vehicles, RVs, and outside power gear, has been picked as winner of the “Most effective Customer Lending Merchandise ” award in the 7th yearly FinTech Breakthrough Awards application, recognizing the breakthrough innovation of the Octane Prequal alternative.

Octane’s progressive items, together with the soft pull ecommerce instrument, Octane Prequal, present speed and simplicity to customers on the lookout to finance big recreational buys in underserved industries where many corporations have been slow to digitize. Octane Prequal delivers lifestyle buys in arrive at of additional fanatics by delivering real bank loan provides in seconds by way of Octane’s in-home loan provider, Roadrunner Financial®.

Octane Prequal is component of Octane’s seamless digital-to-retail experience. The software sits immediately on supplier and OEM websites so prospects can prequalify for funding as they store online – in advance of ever likely to the dealership. Once a customer applies, their data is despatched directly to the seller or routed to a nearby dealership that has their wanted motor vehicle in inventory. Buyers can then post their pre-buy documentation in advance, preserving time at the dealership. Due to the fact Octane Prequal takes advantage of a smooth credit rating pull, a customer’s credit score is not impacted until a deal is generated. This way customers can get an comprehension of their obtaining ability to locate the ideal motor vehicle for them inside of their funds.

At the identical time, sellers who use Octane’s digital system can rapidly and easily fund automobile financial loans, streamlining the acquiring procedure for customers and promptly minimizing deal situations. For the reason that Octane Prequal is backed by Octane’s inhouse lender, it is the only prequalification device in the sector that provides 99% of candidates a true, quick funding determination, though also generating it less complicated for dealers to finance experienced consumers.

“Borrowing revenue to purchase your desire car or truck can be mind-boggling for the borrower and gradual-heading for the dealer, and securing a loan has generally included lengthy exploration all around curiosity fees, being familiar with the repayment phrases, and a range of financing possibilities – in addition to discovering that perfect automobile,” mentioned James Johnson, Taking care of Director, FinTech Breakthrough. “Octane addresses these issues by conference consumers exactly where they’re at – online – with a breakthrough digital-to-retail getting encounter that is special in the market. Octane’s technological innovation and lending options – like Octane Prequal – minimize this procedure from hours to minutes. We are thrilled to identify the Octane crew with this perfectly-deserved 2023 FinTech Breakthrough Award.”

The FinTech Breakthrough Awards is the premier awards software started to acknowledge the FinTech innovators, leaders and visionaries from all around the entire world in a array of groups, like Electronic Banking, Particular Finance, Lending, Payments, Investments, RegTech, InsurTech and several additional. The 2023 FinTech Breakthrough Award method captivated far more than 4,000 nominations from throughout the world.

“We’re very pleased to offer you a seamless, close-to-conclusion lending encounter that is rapidly and effortless, and allows much more people delight in the outdoors’,’ said Jason Guss, CEO and Co-Founder of Octane. “55% of prospects reported that their Octane Prequal knowledge gave them assurance in their buying electric power, and 70% explained they purchased their desire auto sooner mainly because of fast decisioning by way of Octane Prequal. We’re energized to proceed performing with our supplier and OEM associates to link even far more men and women with their passions and additional reduce friction in the acquiring expertise.”        

In just around a calendar year since its launch, above 500 dealerships have installed Octane Prequal on their websites, and purposes generated by Octane Prequal close 1.4x far more regularly than other prequalification tools.


About FinTech Breakthrough
Part of Tech Breakthrough, a main market place intelligence and recognition system for know-how innovation and management all-around the world, the FinTech Breakthrough Awards system is devoted to honoring excellence in Fiscal Technologies and Services organizations and solutions. The FinTech Breakthrough Awards present community recognition for the achievements of FinTech businesses and goods in types together with Payments, Private Finance, Prosperity Management, Fraud Security, Banking, Lending, RegTech, InsurTech and extra. For extra data stop by FinTechBreakthrough.com.

About Octane
Octane® is revolutionizing recreational purchases by offering a seamless, finish-to-stop electronic acquiring encounter. We join persons with their passions by combining cutting-edge technological innovation and revolutionary possibility tactics to make life style buys – like powersports automobiles and outside electric power machines – quickly, uncomplicated, and available.

Octane adds benefit throughout the purchaser journey: inspiring fanatics with our editorial models, which includes Cycle World® and UTV Driver®, instantly prequalifying consumers for financing on the net, routing prospects to dealerships for an uncomplicated closing, and supporting consumers through their mortgage with outstanding financial loan servicing. Established in 2014, we’re a remote-to start with organization with 550+ workforce and about 30 OEM and 4,000 supplier companions. Go to octane.co.

Media Get in touch with

James Johnson, FinTech Breakthrough, 213.255.3658, [email protected]



Resource FinTech Breakthrough

Nicole Lewis

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