Finio, Inc. provides a digital finance hub that connects customers, retailers, and lenders in the powersports, marine, motorcycle, RV, and truck industries through secure APIs and modular cloud-based solutions. The platform streamlines the lending and retailing process, enabling prequalification, smart lender routing, and efficient deal management, thereby enhancing transaction speed and customer experience.
Funding
Funding not disclosed
Founders
Product
Problem
Retailers and lenders in the powersports, marine, motorcycle, RV, and truck industries face challenges in streamlining the financing process, leading to inefficiencies and slower transaction times. Customers often experience friction due to fragmented systems and a lack of seamless digital solutions for prequalification and credit application. This can result in lost sales and reduced customer satisfaction.
Solution
Finio provides a digital finance hub that connects customers, retailers, and lenders in the recreational vehicle and powersports industries. The platform offers a suite of modular, cloud-based solutions and APIs designed to streamline the lending and retailing process. Finio enables prequalification, smart lender routing, and efficient deal management, enhancing transaction speed and improving the overall customer experience. Retailers can integrate Finio's plug-in to enhance their websites with digital retailing capabilities, while lenders and manufacturers can leverage Finio's APIs to power their own digital lending and retailing solutions.
Target Audience
Finio targets retailers, manufacturers, lenders, and marketplaces in the powersports, marine, motorcycle, RV, truck, and construction industries seeking to digitize and streamline their lending and retailing processes.
Features
- **Finio Prequal:** Enables customers to prequalify on a retailer's website with secure multi-factor authentication and lead integration with CRM systems, without impacting their credit score.
- **Finio Credit:** A plug-and-play credit application with configurable smart lender routing and lead integration with CRM/DMS systems.
- **Finio Portal:** A modular digital sales and F&I solution that streamlines internal processes from initial quote to deal funding.
- **Digital Retailing APIs:** Provides multi-franchise dealer data, F&I menus, and dealer group compositions.
- **Digital Lending APIs:** Offers prequalification, smart lender routing, lender decision status, and finance offer calculation capabilities.
- **Payment APIs:** Includes a payment engine, rebate and incentive program management, lender rate programs and fees, sales tax calculations, and dealer fee schedules.
- **Transaction APIs:** Facilitates transaction record handling, customer record management, CRM lead submission, and user authentication.