Odessa, a provider of technology solutions for the asset finance industry, announced that First Business Bank selected its suite of solutions to bolster its digital transformation journey. To support its equipment finance business, First Business Bank will implement Odessa Core Originations and Servicing, Customer Portal, and Insights through Odessa Cloud, the company’s software-as-a-service solution.
First Business Bank, specializing in business banking, offers a range of financial services and resources to businesses across various industries. The organization is experiencing accelerated growth and needs to modernize its systems to better serve the needs of its equipment finance clients. To help support this transformation, the company sought a cloud-based system to unify its data onto a single platform and drive efficiency in front to back-office operations.
With Odessa, First Business Bank will gain:
- Improved contract flexibility: Leveraging Odessa’s asset-based system, the bank will benefit from enhanced capabilities for modifying and servicing contracts, enabling more responsive customer service.
- Data-driven insights: Odessa Insights will transform the bank’s data landscape, providing custom report creation capabilities for better decision-making and strategic planning.
- Streamlined operations: By harnessing the power of Odessa’s automation, the bank will achieve an optimized workflow, enhancing efficiency on both the originations and servicing sides of their business.
- Readiness for future growth: The bank’s growth strategy will be supported by Odessa’s scalable, future-ready technology, which is capable of evolving with the bank’s expanding business needs.
“The growth of our equipment finance unit over its initial five years of existence has been tremendous and the time has come for our systems to evolve. We wanted a cloud-based platform to enable us to unify various legacy systems into a single, supported platform. We needed a technology platform that could scale with us, provide needed functionalities and enable increased process efficiencies across all functional segments of this organization as we embark on the next stage of the organization’s growth,” Stuart Goddard, managing director of First Business Specialty Finance, a subsidiary of First Business Bank, said. “As we look to our future with Odessa, we are confident that this partnership will better equip us to realize opportunities to drive both our top and bottom lines.”
“We are delighted to partner with First Business Bank and welcome them to the Odessa family,” Eric Bernstein, CEO at Odessa, said. “First Business Bank has done a great job scaling their equipment finance business and we’re thrilled to support the team with their digital transformation goals and continued growth.”
