Case Study: Octane increases loan conversion and efficiency with Truework

Why Octane went with Truework to help fuel growth and increase efficiency

Octane, a company that provides financing for recreational purchases through its lender Roadrunner Financial, faced a challenge in verifying customer income quickly and securely. This step was a major blocker in their digital lending process, causing friction for applicants at dealerships and creating operational inefficiencies that hindered their rapid growth. To address this, they turned to the vendor Truework and implemented its income verification API.

By integrating Truework's API into their application process, Octane was able to instantly verify income for a significant number of applicants. This solution from Truework reduced income-related stipulations by over 50%, which dramatically increased their approval-to-book ratio. The automation also improved operational efficiency by freeing loan processors from manual document review, allowing the company to scale its loan originations without proportionally increasing its operations staff.

Octane

Duncan Amos

VP of Product