First Business Bank Chooses Odessa for Key Role in Digital Transformation
July 18, 2023
Philadelphia,PA – Odessa, the leading provider of technology solutions for asset finance announced today that First Business Bank has selected Odessa’s 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 full-service SaaS 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 unique 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, significantly 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, capable of evolving with their 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” said Stuart Goddard, Managing Director of First Business Specialty Finance, LLC, subsidiary of First Business Bank. “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.”
As banks globally are recognizing the benefits of digitalization and seeking solutions to elevate their customer experiences, Odessa has emerged as a trusted partner. Offering a seamless combination of efficiency, flexibility, and automation, Odessa’s platform delivers a robust foundation for banks seeking to adapt to market changes, and drive customer satisfaction.
Eric Bernstein, CEO at Odessa noted, “We are delighted to partner with First Business Bank and welcome them to the Odessa family. 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.”
About First Business Bank
First Business Bank specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting Services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank.
Odessa is a software company exclusively focused on the leasing industry and the developers of the #1 platform in the industry. Headquartered in Philadelphia, USA, Odessa’s leasing solutions and a workforce of 1250+ power a diverse customer base of asset finance companies globally. Odessa provides a powerful, end-to-end, extensible solution for lease and loan origination and portfolio management. The Odessa Platform further provides rich feature sets, including low-code development, test automation, reporting, and business intelligence to ensure organizations can more effectively align business and IT objectives.