Fintech revolutionizing recreational financing

Octane Lending is a New York-based fintech company transforming the buying experience for major recreational purchases. By offering a seamless, end-to-end digital financing experience, Octane supports a rapidly evolving lending ecosystem and empowers over 4,000 dealers and 40 original equipment manufacturer (OEM) partners across the U.S. With solutions built on data, automation, and trust, Octane is becoming a leader in alternative credit scoring and digital underwriting.

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Strengthening risk precision with FICO® Auto Score 10

To enhance credit risk assessment and drive smarter lending decisions, Octane implemented FICO® Auto Score 10, FICO’s most predictive auto industry score. Developed using recent credit bureau data, FICO Auto Score 10 delivers significant performance improvements over prior versions, offering increased accuracy in evaluating borrower risk.

The score enables more precise segmentation across the credit spectrum, including improved risk prediction for thin-file, new-to-credit, and subprime consumers — key segments for growth-oriented lenders. By maintaining backward compatibility and the trusted 250–900 score range, FICO Auto Score 10 gave Octane a streamlined upgrade path while preserving continuity in compliance, user experience, and operational workflows.

With updated model logic and refined variable weighting, FICO Auto Score 10 supports lenders like Octane in making more informed credit decisions without sacrificing risk standards.

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Driving growth through advanced analytics

“The FICO Score, tools, and predictive analytic power that FICO brings to bear is one of the core tenets we have as to how we evaluate the customer’s eligibility for credit. The discernment ability that FICO offers Octane is one of our core tools we use to help with the pre-qualification process. Without that, the benefit we drive to the dealer, to the customer, and to Octane simply doesn’t exist.”

Mark Molnar, Chief Risk Officer
Octane

Octane’s results validate the power of combining analytics with human-centered design.

The integration of FICO’s model allowed Octane to deepen its footprint in the secondary market for powersports and expand into new verticals like RV and marine loans, all while safeguarding against credit risk and maintaining capital liquidity.

Results:

  • Loan origination growth: Octane achieved a 36% year-over-year increase in loan originations from 2023 to 2024 by empowering dealerships, OEMs, and customers with award-winning technology and faster, easier financing experiences.
  • Application expansion: Increase in applications; some dealers see an up to 58% increase in applications after they start using Prequal Flex®, one of Octane’s prequalification tools, which leverages FICO® Auto Score  10.
  • Dealer tool adoption: Increase in applications of 160% from H1 2023 to H2 2024 through Prequal Flex®.
  • Capital markets strength: More than 13 asset-backed securitizations; Octane has earned AAA ratings from multiple agencies thanks to its strong underwriting practices, powered by FICO® Score analytics and their own risk model.

These achievements reflect a strong commitment to financial wellness and broadening access through inclusive, data-powered lending strategies. Octane’s experience highlights how fintechs can thrive by rethinking risk and embracing the future of credit scoring.

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Related Resources

Explore Octane's Journey and Innovations

Octane grows lending by 36% with FICO® Auto Score 10

Using FICO® Auto Score 10, Octane responsibly expands credit access and grows recreational financing by 36%.

How Octane uses FICO® Scores and FICO® Platform omni-channel engagement capability to expand access to credit

Discover how FICO® Scores and decisioning tools help Octane unlock new opportunities and empower more people to pursue their passions confidently and efficiently.

Octane earns a 2025 FICO Decision Award; Responsibly expands credit access with FICO® Auto Score 10

Fintech company uses FICO® Auto Score 10 to help grow originations by 36% and responsibly expand credit access in the recreational market, including powersports, RV, and outdoor power equipment.

FICO® Auto Score 10 Solution Sheet

The most powerful FICO® Auto Score ever supports more predictive consumer credit risk management for auto dealers and lenders.

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Adapting new data and increasing financial inclusion

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