OnDeck Taps Bank Veteran to Lead ODX Sales and Strategy; BBVA USA Veteran Lonnie Hayes Joins New Business Unit Serving Banks
OnDeck® (NYSE: ONDK), the leader in online lending for small business, today announced the appointment of Lonnie Hayes as the Head of Sales and Strategy for ODX, a wholly owned subsidiary of OnDeck that assists banks with streamlining and digitizing small business credit origination.
Mr. Hayes brings more than thirty years of experience to his new role. He most recently served as Executive Vice President of Small Business for BBVA USA, where he established the organization's U.S. strategy to serve businesses with less than $10 million in annual revenues. At BBVA USA, Mr. Hayes oversaw product development, digital and sales operations, as well as leading the bank's nationally recognized Small Business Administration (SBA) lending unit.
"Lonnie's proven track record building and managing high-growth sales organizations and programs will be crucial as we continue to address the market from banks seeking enhanced digital lending capabilities," said Brian Geary, President, ODX. "Lonnie will be a tremendous asset to our team as we engage financial institutions to help them accelerate their ability to serve small businesses."
"I am excited to join ODX, the pioneer in digitizing and speeding the online lending experience for banks," said Lonnie Hayes, Head of Sales and Strategy, ODX. "I hope to bring a banker's perspective to our partnership efforts and look forward to collaborating with bank colleagues old and new, to strengthen the economics of small business lending while dramatically improving the customer experience for borrowers."
ODX operates as a subsidiary of OnDeck and offers a combination of software, analytic insights, and professional services to help banks reinvent their small business lending process. At the core of the ODX solution is a modular, scalable, and reliable SaaS platform that allows banks to either create a fully end-to-end digital experience for their customers or to select certain components for specific product functions. An ODX-powered bank platform experience can enable a small business customer to apply for financing from their bank online, receive immediate decisions, and obtain funding in as fast as 24 hours.
OnDeck (NYSE: ONDK) is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. The company also offers bank clients a comprehensive technology and services platform that facilitates online lending to small business customers through ODX, a wholly-owned subsidiary. OnDeck has provided over $11 billion in loans to customers in 700 different industries across the United States, Canada and Australia. The company has an A+ rating with the Better Business Bureau and is rated 5 stars by Trustpilot. For more information, visit www.ondeck.com