Global analytics software leader FICO announced that Octane, the fintech revolutionizing the buying experience for major recreational purchases, earned a 2025 FICO Decision Award for Customer Onboarding and Management. Since 2016, Octane has partnered with FICO to support its risk management and responsibly expand credit access.
Octane has transformed the financing experience for recreational markets with its digital tools, credit products and technology-powered end-to-end financing experience, the company said in a release. Octane uses FICO Auto Score 10, part of one of the most powerful and predictive FICO Score suites to-date, and its own Octane Score, to more accurately assess the risk of an enthusiast making lifestyle purchases. By focusing on predictive analytics, Octane has expanded credit access while maintaining the highest risk management standards.
“We’re proud to transform the financing experience with our powerful technology and unique end-to-end product suite. By building strong risk programs, we ensure that our business remains profitable and we continue to support our partners,” said Mark Molnar, chief risk officer at Octane. “FICO Auto Score 10 underpins our risk management capabilities and positions us for long-term growth as we continue to serve our partners with innovative technology and best-in-class offerings.”
Octane offers merchants a technology platform and end-to-end product suite to help them offer a seamless financing experience to customers, increasing dealer and OEM sales and profitability, the company said. In 2024, Octane increased originations by 36% year-over-year by developing unique lead generation and customer engagement technology, as well as offering financing products that integrate FICO Auto Score 10. Octane’s prequalification tool, Prequal Flex, allows its 1,200 users to embed a unique-to-them financing link or QR code into their online and in-person marketing. Prequal Flex features a soft credit pull that doesn’t impact a buyer’s credit score until a contact is generated, empowering more customers to take the first step in the buying process. As a result, it’s easier for dealers to connect with new customers, understand a customer’s buying power and close more deals. In 2024, Octane introduced Dealer Portal 2.0, the most advanced version of its industry-leading dealer financing platform, which offers smarter, faster credit decisions, reducing the time it takes for dealers to close deals.
“Octane has proven to be an innovative leader in the fintech and powersports industry,” said Julie May, vice president and general manager of scores at FICO. “The company has achieved remarkable success by leveraging FICO Auto Score 10 and building a seamless, end-to-end customer experience designed to empower its customers and partners alike.”
“Octane isn’t just streamlining financing — it’s making it easier for people to turn their passions into reality,” said Joe McKendrick, analyst and senior contributor at Forbes, one of the FICO Decision Awards judges. “Octane’s ability to balance risk management with a seamless customer experience stood out to the judges. By integrating smart credit decisioning, it’s giving more consumers access to recreational purchases while helping dealers grow their businesses.”
As a result of its strong risk management and credit performance, Octane has developed a robust capital markets program driven in large part by its use of FICO Scores; it has issued more than $4 billion of asset-backed securities (ABS) since its ABS program began in 2019. In 2024, Octane’s program closed four asset-backed securitizations, including OCTL 2024-RVM1, one of the first securitizations backed wholly by RV and Marine collateral in twenty years. Through this program, the company has also sold or entered into forward flow commitments of over $2 billion since its first whole-loan sale in late 2023 and has originated more than $6 billion in aggregate originations.
Octane also recently received the ABS Deal of the Year award for OCTL 2024 RVM-1. Winners are chosen by the industry. Octane’s RV business doubled year-over-year in 2024, and the company said it looks forward to continuing to support RV dealers with its technology.
