OnDeck Launches ODX Platform-as-a-Service for Bank SME Lending

OnDeck announced the launch of ODX on October 17, 2018, a dedicated Platform-as-a-Service subsidiary designed to help banks digitize their small and medium-sized enterprise lending operations. ODX provides embedded software, analytics, and services that enable banks to offer fully digital loan applications and automated underwriting, dramatically reducing funding timelines from weeks to as little as 24 hours. The platform leverages OnDeck's proprietary OnDeck Score for real-time credit decisions, allowing partner banks to reach SME borrowers more efficiently than traditional paper-based processes permit.

OnDeck's CEO described ODX as a 'next generation service provider for the digital lending era.' The subsidiary is led by Brian Geary as president and Raj Kolluri as head of product and technology. ODX represents an early example of embedded lending infrastructure, positioning OnDeck as both a direct lender and a technology provider powering bank lending operations.