Since 2006, OnDeck has been a pioneer in the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses. ODX, a wholly owned subsidiary of OnDeck, was launched in October 2018 to address the increasing demand from banks by offering a digital platform origination solution and related services. ODX helps banks improve the economics of small business lending by digitizing and simplifying the origination process for customers, streamlining the process through world-class data analytics and automation, while fostering the customer relationship through personal interaction.
ODX enables banks to digitally originate business credit and deposit products - allowing business owners to open accounts and apply for loans without physically coming into a branch or meeting face to face with a banker. The ODX solution is omni-channel meaning the same streamlined experienced can be delivered in a banker assisted experience in the branch once the current health crisis normalizes.