Octane earns FICO Decision Award, expands credit access with FICO Auto Score 10
Global analytics software firm FICO announced on May 22 that Octane Lending earned a 2025 FICO Decision Award for Customer Onboarding and Management.
Octane offers financing to recreational markets with its digital tools, credit products, and technology-powered end-to-end financing experience. Octane uses FICO Auto Score 10 and its own Octane score to assess the risk of purchases. By focusing on predictive analytics, Octane has expanded credit access while maintaining risk management standards.
“By building strong risk programs, we ensure that our business remains profitable, and we continue to support our partners,” says 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.”
Octane offers dealers a technology platform and an end-to-end product suite to help them offer a seamless financing experience to customers, increasing dealer and OEM sales and profitability. In 2024, Octane increased originations by 36% year-over-year.
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.
“Octane isn’t just streamlining financing — it’s making it easier for people to turn their passions into reality,” says 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 [decision-making], it’s giving more consumers access to recreational purchases while helping dealers grow their businesses.” — McKendrick
As a result of its strong risk management and credit performance, Octane has developed a capital markets program driven in large part by its use of FICO scores and has issued more than $4 billion of asset-backed securities. 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.
