Odessa Auto is offering lenders the capability to further automate and manage their originator processes. That’s thanks to three updates the company announced today: Intelligent Document Processing (IDP), Electronic Contract Integration (eContract and dashboards populated with lender KPIs.
A multi-asset, multi-product platform that supports both traditional auto finance and alternative lending structures such as usage-based lending, subscriptions, fleet, as-a-service and fractional ownership, Odessa Auto enables lenders to bring new offerings to market through self-service configuration tools. Both IDP and eContract speed time to contract and reduce errors. IDP does this by enabling lenders to extract key data elements directly from documents and ingest them into the Odessa Auto platform, obviating the need for manual document identification and data entry. The Odessa platform can also receive eContracts from dealers on behalf of lenders, likewise, obtaining data quickly while reducing errors and time to contract. And Odessa’s platform now offers lenders more options than its competitors for configuring dashboards with just the right KPIs.
“As we built Odessa Auto, we made a conscious choice to avoid software generalists in favor of product leaders who came directly from the auto finance industry,” Odessa Executive VP of Auto Finance Bob Johnson said. “Our product team knows that reducing time to contract is a top priority for lenders — as is reducing costly errors. Our customers tell us, ‘You guys get it.’ Nothing makes us happier than to know we’re giving lenders what they need.”
Odessa’s modern, cloud-based auto-lending software unshackles lenders from the restraints and risks of running on outdated software. Automating workflow, Odessa Auto removes data silos. Combined with powerful analytics, this approach enables lenders to make faster decisions and funding dealers.
