PHILADELPHIA, PA — Auto lenders will now have better tools to assess vehicle value, thanks to a new partnership between Odessa, a leader in asset finance technology, and J.D. Power, a global automotive data and analytics firm. This collaboration promises to provide lenders with high-quality, structured vehicle data, including OEM Build information, improving their ability to qualify loan assets accurately.
Odessa’s auto finance platform will integrate J.D. Power’s ChromeData, allowing lenders to precisely value vehicles for which consumers seek loans. ChromeData’s VIN Decoding services confirm model, trim, and VIN-specific data, aligning credit risk correctly and aiding consumer automotive purchases from dealer partners.
“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 recognized as the industry standard for vehicle content and VIN information, providing a robust data set critical to various stakeholders, including dealers, marketers, and consumers. It decodes over four billion VINs annually, offering access to three decades of high-quality 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.”
With this integration, Odessa and J.D. Power aim to enhance the precision and reliability of auto lending, benefiting all parties involved in the automotive finance ecosystem.
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