), the fintech company unlocking the power of financial products for retailers and consumers, announced that it has entered the auto market to help dealerships maximize their return on each car sale while delivering a superior customer experience. Octane's Captive-as-a-Service offering enables auto dealerships to enjoy the benefits of owning a captive finance company without the significant up-front costs, time, effort and investment required to establish such a business.
The solution brings together core captive business elements, including credit underwriting, loan processing, loan servicing, funding and capital markets execution, under a brand name of the partner's choice. Dealer partners and their customers benefit from a seamless technology-forward experience that includes digital soft-pull tools, customized lending platforms, and monthly customer touchpoints enabling dealer marketing for the duration of a consumer's loan.
As a result, Octane's Captive-as-a-Service solution allows dealers to earn more money on each sale, grow and diversify their earning streams, strengthen customer loyalty, and build long-term enterprise value. The company has considerable underwriting expertise and consistent credit performance, as evidenced by its AAA ratings.
Dealers can benefit from Octane's in-house loan processing team, which offers support seven days a week, and its award-winning loan servicing team, which handles in-house payments, collections, and recovery. 3 billion in loans through whole loan sale and forward flow transactions, and maintains strong relationships with institutional investors, banks, rating agencies, and warehouse capital providers.
The company's leadership team has more than 50 years of combined experience in capital markets, financial services, compliance and credit risk, and over 25 years of combined experience in auto lending. Octane's Captive-as-a-Service solution also unlocks countless marketing opportunities to drive value across the dealership, like coupons for servicing and maintenance or remarketing messages to drive the next sale.
The company helps dealers deliver a fast, seamless financing experience to their customers through its digital tools and instant credit decisioning, and responsibly extends credit to a wide range of customers through its proprietary underwriting model.
Octane's entry into the auto market is a significant development in the fintech industry, as it brings together the benefits of captive financing with the technology-forward experience of digital soft-pull tools. This solution has the potential to revolutionize the way dealerships approach financing for their customers.
