NEW YORK, NY--(Marketwired - Oct 20, 2016) - Orchard Platform, the leading technology and data provider for online lending, today announced an agreement with OnDeck® (NYSE: ONDK), the leader in online lending for small business to provide OnDeck with an automated and scalable solution to manage reporting for institutional investors purchasing OnDeck loans through OnDeck Marketplace. Orchard's technology also helps drive operational efficiencies by providing a universal view of standardized data through a suite of analytic and reporting tools.
The agreement also provides OnDeck with access to the entire Orchard for Originators product suite. This proprietary technology comprises dynamic investor dashboards, portfolio benchmarking, automated daily holdings reports, and a custom report builder for internal and third-party analytics.
"OnDeck Marketplace is an important part of our funding model, and we are constantly looking for ways to enhance our reporting and analytics capabilities to better serve our investors," said OnDeck CFO Howard Katzenberg. "Orchard helps us and our Marketplace investors monitor their loan portfolios by providing access to high-quality data and the tools required to easily understand that data. We considered multiple vendors, as well as building an in-house solution, and we selected Orchard because their technology was the most comprehensive."
"We're excited to strengthen our relationship with OnDeck by providing enhanced portfolio reporting and analytics to their marketplace," said Matt Burton, CEO of Orchard. "This represents an important milestone for Orchard and our technology, as we continue to build world-class products that help originators scale their businesses."
By working with Orchard, OnDeck can better focus on what it does best -- providing small businesses across the United States with access to much-needed financing. Through this agreement, Orchard demonstrates its commitment to developing best-in-class technology for originators and investors alike. Recently, Orchard announced the launch of the Orchard Data Partner Program, which validates the internal consistency and quality of an originator's data on an ongoing basis.
OnDeck (NYSE: ONDK) is the leader in online small business lending. Since 2007, the company has powered Main Street's growth through advanced lending technology and a constant dedication to customer service. OnDeck's proprietary credit scoring system -- the OnDeck Score® -- leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry's widest range of term loans and lines of credit. To date, the company has deployed over $5 billion to more than 50,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau and operates the educational small business financing website BusinessLoans.com. For more information, please visit www.ondeck.com.
OnDeck Marketplace® is a trademark of On Deck Capital, Inc.
Orchard is the leading provider of technology and data to the online lending industry, powering the interaction between institutional investors and loan originators. Founded in New York City in 2013, Orchard's mission is to build the systems and standardize the data that will allow online lending to efficiently grow into a global financial market. Orchard provides products and services to investors that enable them to understand, access, and execute online lending investments, including Market Data, Reporting & Analytics, and a powerful Order Management System. Orchard offers originators an integrated platform that empowers them to more efficiently and intelligently participate in online lending through Education & Insights, Reporting & Analytics, and Investor Awareness products, including the Orchard Data Partner Program, and access to a diverse group of institutional investors who use Orchard to purchase online lending assets. Orchard has been named to the Forbes Next Billion Dollar Startups list, produces the Orchard US Consumer Marketplace Lending Index -- the only industry-wide benchmark distributed on the Bloomberg Professional service -- and is recognized for its technical and analytical thought leadership as explored on its blog.