Los Angeles, CA, March 23, 2023 – QuickFi® by Innovation Finance USA, today announced that for the second straight year it has been named “Best Overall LendTech Company” in the annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.
QuickFi is a digital secured lending platform serving banks and original equipment manufacturers (OEMs) to provide private labeled business equipment financing at the point of sale. The self-service, 100% digital QuickFi platform provides user authentication, borrower onboarding, credit underwriting and adjudication all at once. Additionally, QuickFi offers loan and lease structuring and pricing, transaction documentation, lien recording and perfection, fraud prevention, compliance, KYC services, reporting, and more.
The platform also comes with 24/7/365 customer support via live chat, telephone, or video. All these digital, end-to-end capabilities are provided to the borrower instantly. QuickFi is also easily embedded into manufacturer or vendor sales channels in order to enable this novel turn-key digital equipment financing.
Additionally, for widely dispersed dealer networks, QuickFi can facilitate point-of-sale equipment financing at scale with a simple digital credit application link that can be designed and rolled out in as little as two weeks.
“Commercial equipment finance is broken. Borrowers pay too much and the process takes too long. Banks and manufacturers’ have hitherto needed to acquire costly software as well as hire credit, operations, legal, customer service, and compliance employees in order to facilitate the buying of equipment. Long sale cycle times equate to much heavier financial burdens to the organization,” said James Johnson, Managing Director, FinTech Breakthrough. “QuickFi is one-third the cost of operating legacy equipment finance business models, while also providing a nearly instant borrower self-service experience. The platform reduces costs, shortens equipment sale cycle times, and improves borrower satisfaction. Congratulations for the second straight year on being ‘Best Overall LendTech Company!’”
Now in its seventh year, the FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2023 FinTech Breakthrough Award program attracted more than 4,000 nominations from across the globe.
“We’re thrilled to again be recognized with this award by FinTech Breakthrough. We set out to create a platform that would enable business equipment buyers to almost instantly establish and consummate business equipment leases and loans. Today, leading global equipment manufacturers use our patented system to initiate and complete equipment purchaser financing in just 3 minutes,” said Bill Verhelle, QuickFi CEO. “The one trillion dollar per year U.S. business equipment finance market is likely to change dramatically in the coming decade. Technology will transform the business model from a ‘sales model’ to a ‘borrower self-service model.’ This transition won’t be easy for banks and finance companies deeply invested in the legacy ‘sales model.’ QuickFi offers lenders the ability to quickly adopt a 100% mobile, digital, borrower self-service delivery model that provides massive cost and time savings and dramatically improves the borrower experience.”
About QuickFi
QuickFi by Innovation Finance USA is a business equipment finance platform, serving banks and global manufacturers with financing programs to help close equipment sales quickly and efficiently. QuickFi enables creditworthy business borrowers to apply for and consummate low, fixed rate term loan in a matter of minutes, not days or weeks. QuickFi live demonstration is available here: https://quickfi.com/2022-americanbanker-demo/.
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
