FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market, announced that Octane (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, has been selected as winner of the “Consumer Lending Innovation Award” in the 8th annual FinTech Breakthrough Awards program, recognizing the breakthrough innovation of Octane’s Prequal FlexTM solution.
Prequal Flex is a URL tied to a specific powersports dealership that allows them to reach and prequalify customers from anywhere enthusiasts are browsing, including social media, advertisements, emails, event materials, in-dealership collateral, and more. The Prequal Flex application is quick and easy to complete, and it can be used across sales and marketing platforms – from the showroom floor to digital marketing campaigns. The tool helps powersports dealers grow their business and find and connect with more customers regardless of locale.
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At the same time, Prequal Flex helps customers find and access their dream vehicle faster and easier. It’s part of Octane’s suite of prequalification of tools, so it uses a soft pull and doesn’t impact a customer’s credit until a contract is generated. By bypassing hard credit pulls with each application, customers can understand their buying power without impacting their ability to purchase their desired vehicle. Once a customer is approved for financing, they can complete all closing requirements and upload necessary documentation before ever stepping foot into a dealership.
“Octane provides a modern lending solution and exceptional service, so shoppers and dealers can get loans done in minutes. Historically, making lifestyle purchases was a slow, manual process. Consumers want easier purchasing without the pressure of in-person buying,” said Steve Johansson, Managing Director, FinTech Breakthrough. “Congratulations to Octane on winning our ‘Consumer Lending Innovation Award!’ Octane’s Prequal Flex is a true fintech breakthrough, making the lending process better and helping more customers find and qualify for their dream vehicle.”
“Prequal Flex helps us deliver a fast, easy, and accessible financing experience for more people, while supporting our dealer partners’ business goals,” said Jason Guss, Co-Founder and CEO of Octane. “Thank you to the Fintech Breakthrough Awards for this recognition and to our entire team for their hard work delivering such an innovative product.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more.
SOURCE: GlobeNewswire