ATLANTA--(BUSINESS WIRE)--Jan 21, 2025--
OTTOMOTO ®, the leading embedded lending platform revolutionizing how dealers and lenders collaborate across auto, RV, powersports, marine, and aircraft industries, is proud to announce a groundbreaking partnership with Algebrik, pioneering the world's first cloud-native and AI-powered digital era Loan Origination Platform. Algebrik’s innovative platform is designed to address the challenges faced by lenders struggling with high customer acquisition costs due to broken omnichannel journeys and manual processes. This partnership combines the strengths of OTTOMOTO ® ’s secure, efficient lending solutions with Algebrik’s cutting-edge AI technology to deliver unparalleled experience and operational efficiencies to dealers and lenders alike.
“Our collaboration with Algebrik marks a significant milestone in the evolution of embedded lending,” said Paul Nicholas, CEO of OTTOMOTO ®. “By integrating Algebrik’s inclusive AI-first, cloud-native platform with OTTOMOTO ® ’s comprehensive fraud prevention, real-time asset verification, and compliance-driven workflows, this partnership delivers a seamless, intelligent, and secure lending experience for borrowers.”
“We are very excited about our partnership with OTTOMOTO ® as it furthers our mission to transform the loan origination process enabling a faster, more accurate, and personalized lending experience to better serve the fast-evolving needs of borrowers,” said Pankaj Jain, Founder & CEO of Algebrik AI.
The partnership ensures that dealers and lenders can leverage real-time data analytics to reduce friction, accelerate loan approvals, and improve overall performance. Borrowers benefit from a smooth, transparent process with optimized outcomes, while lenders gain confidence in the security and precision of every transaction and overcome high abandonment rates and manual inefficiencies, enabling seamless digital loan delivery and enhancing customer satisfaction.
About OTTOMOTO ®
OTTOMOTO ® is the leading embedded lending platform transforming the way dealers and lenders collaborate across auto, RV, powersports, marine, and aircraft industries. With over 60 years of combined expertise, OTTOMOTO ® delivers secure, efficient, and compliant digital-first solutions designed to streamline the lending process and foster trust among all stakeholders.
By de-risking every deal through advanced fraud prevention, real-time asset verification, and compliant workflows, OTTOMOTO ® empowers dealers to align seamlessly with lender requirements. The platform’s intuitive integration provides dealers with peace of mind to focus on their operations, knowing every transaction is secure and optimized. Borrowers also benefit from a smooth and efficient experience. For more information, visit www.ottomoto.net.
About Algebrik
Algebrik, headquartered in New York City is the world's first cloud and AI native digital-era Loan Origination Platform (LOS), designed for the next generation of members/consumers. In an industry that hasn’t seen significant innovation in lending technology in over 25 years, Algebrik empowers credit unions, mid-tier banks and lenders of all sizes to attract, engage, grow, and retain next-gen members/consumers and stay competitive in today’s digital era by transforming loan originations end-to-end. Algebrik does all the heavy-lifting so that lenders can focus on growing their business. For more information, visit www.algebrik.ai.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250121584404/en/
CONTACT: Media Contacts:Algebrik
Pankaj Jain
Founder & CEO
Carol Docalavich
Co-Founder and COO
KEYWORD: GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY PERSONAL FINANCE FINANCE FINTECH PROFESSIONAL SERVICES SOFTWARE INTERNET DATA MANAGEMENT ARTIFICIAL INTELLIGENCE
SOURCE: Algebrik AI
Copyright Business Wire 2025.
PUB: 01/21/2025 08:03 AM/DISC: 01/21/2025 08:02 AM
http://www.businesswire.com/news/home/20250121584404/en
