FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market, announced QuickFi, a new mobile business lending platform from Innovation Finance USA LLC, has been selected as the winner of the “Business Lending Innovation Award” in the 2020 FinTech Breakthrough Awards program.

The QuickFi business equipment financing platform enables creditworthy business borrowers to initiate and complete fixed-rate, term equipment financing transactions, which previously took days or weeks, in only three minutes. QuickFi automates and digitizes each step of the equipment financing process; empowering business borrowers to complete equipment financing on their iOS or Android mobile device anytime, anyplace, 24/7/365. QuickFi delivers unprecedented transparency for business borrowers by always disclosing all-inclusive interest rates, never charging fees or additional costs (excluding only late payment fees), using fair, simple English contracts, and by eliminating salespeople and all sales pressure from the borrower’s financing experience.

“QuickFi is disrupting the $1 trillion per year U.S. business equipment financing industry, delivering a radically different and improved customer experience,” said James Johnson, Managing Director, FinTech Breakthrough. “The QuickFi platform represents a breakthrough industry-first mobile business finance solution that enables business borrowers to initiate and complete loans of up to $5 million in minutes, transforming the commercial lending industry. We offer our sincere congratulations to Innovation Finance for this significant industry achievement.”

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 Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and more. The 2020 FinTech Breakthrough Award program attracted more than 3,750 nominations from around the globe.

“The world is not only becoming more digital, it's also becoming increasingly mobile and self-service driven,” said Bill Verhelle, CEO and founder of Innovation Finance. “Speed and innovation are two words that are not currently associated with the $1 trillion/year U.S. business equipment financing industry. We are trying to change that by introducing the most advanced, modern technology into this industry and dramatically improving the customer experience. We’re honored to receive the 2020 FinTech Breakthrough Award.”

The entire borrower user-experience takes place within the QuickFi mobile application. QuickFi’s unique mobile technology authenticates and verifies each new user. QuickFi’s digital onboarding process is completed by the user within the QuickFi mobile app. QuickFi’s automatic scoring and approval procedures eliminate the need for lengthy, manual processes, thus saving the customer days of waiting time.

Once a QuickFi account is created, the financing process is completed in three simple steps, yielding approved financing in about three minutes. QuickFi’s self-service equipment financing can be initiated and completed anytime with 24/7 customer support. QuickFi puts business borrowers in control, with access to low, fixed-rate equipment financing anytime on the world’s first 100 percent digital, mobile business equipment financing platform.