Odessa

J.D. Power

VIN data from J.D. Power helps banks and captive lenders determine appropriate advances

PHILADELPHIA, PA, UNITED STATES, July 18, 2024 /EINPresswire.com/ — Auto lenders will now have greater access to high-quality, structured vehicle and model data that includes OEM Build information, enabling them to understand and accurately qualify the assets being requested. That’s thanks to a new collaboration Odessa, the leading provider of technology solutions for asset finance, and J.D. Power, a global leader in automotive data and analytics, announced today.

Odessa’s auto finance platform will now provide J.D. Power ChromeData—part of the Autodata Solution division at J.D. Power—to lenders looking to place a precise value on the vehicles for which consumers are requesting loans. ChromeData’s VIN Decoding services enable lenders to accurately confirm the model, trim and VIN-specific data to appropriately align credit risk properly, thus facilitating automotive purchases from dealer partners by consumers.

“This partnership significantly benefits lenders, dealers, and consumers,” said Craig Jennings, president of the Autodata Solutions division at J.D. Power. “Odessa’s inclusion of ChromeData will make it much easier for lenders to understand which options, features, and packages are included with each vehicle. Accurate information is key to precise valuations — and that’s what Odessa’s partners will now have.”

ChromeData is the industry standard for vehicle content and Vehicle Identification Number (VIN) information offering the most robust data set. Accurate model and VIN information is critical to dealers, marketers, remarketing companies, finance & insurance companies, valuation services and, of course, consumers. ChromeData decodes more than four billion VINs a year, providing access to more than 30 years of high-quality VIN data on new cars, light trucks and motorcycles.

“We’re pleased to add J.D. Power ChromeData to the broad spectrum of data sources that our platform brings to lenders who need to understand and act on data,” said Odessa Executive VP Robert Johnson. “Contributing to our overall approach, this structured data will quickly bring lenders the right year, make, model and unique VIN information, instantly helping with pricing, advance, and credit decisions.”

About Odessa

Odessa is a software company exclusively focused on the lending and leasing industry and the developers of the #1 platform dedicated to asset finance. Headquartered in Philadelphia, USA, Odessa’s leasing solutions and a workforce of 1,000+ 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. To learn more, visit https://www.odessainc.com.

About J.D. Power

J.D. Power is a global leader in automotive data and analytics, and provides industry intelligence, consumer insights and advisory solutions to the automotive industry and selected non-automotive industries. J.D. Power leverages its extensive proprietary datasets and software capabilities combined with advanced analytics and artificial intelligence tools to help its clients optimize business performance.

J.D. Power was founded in 1968 and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto-shopping tool can be found at JDPower.com.

Bill Brazell
WIT Strategy
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