MINNETONKA, Minn.--(BUSINESS WIRE)--Feb. 17, 2012--
TCF Equipment Finance, Inc. (“TCFEF”), an indirect subsidiary of TCF
Financial Corporation (“TCF”) (NYSE: TCB), has selected Odessa
Technologies, Inc. ("Odessa") to develop a custom solution to automate
end-of-lease administration and remarketing processes.
“We are excited to work with Odessa in automating and enhancing our
end-of-lease management activities including repossessions, end-of-term
activities, workouts and remarketing," says Robert Stark, Senior Vice
President of TCFEF. “The ability to fully automate and integrate the
end-of-lease process will provide improvements in processing
efficiencies and data accuracy and reliability.”
“While it will be a part of the LeaseWave platform, we are designing
this solution to be modular and data-source independent so that it can
be plugged right into any infrastructure and can work with a multitude
of legacy systems," says Kate Majewski, Associate Vice President at
Odessa. “We are also leveraging LeaseWave’s existing architecture and
services, such as its extensible workflow layer. This will allow TCFEF
to manage equipment coming off lease whether it be in the normal course
of business or owing to the lessee’s deteriorating financial condition;
users can readily configure the system to reflect their specific
business processes and requirements.”
About TCF Equipment Finance, Inc.
TCF Equipment Finance, headquartered in Minnetonka, Minnesota, is the 13th
largest bank-affiliated equipment finance company in the U.S. in asset
size. TCFEF provides financing solutions to companies on a direct basis
as well as through programs with vendors and manufacturers in a growing
number of select markets such as: Healthcare, Specialty Vehicle,
Construction and Manufacturing. TCFEF is widely recognized as one of the
premier equipment finance companies in the United States. For more
information about TCFEF, please visit www.tcfef.com.
About TCF Financial Corporation
TCF Financial Corporation is a Wayzata, Minnesota-based national bank
holding company with $19 billion in total assets at December 31, 2011.
TCF has over 430 branches in Minnesota, Illinois, Michigan, Colorado,
Wisconsin, Indiana, Arizona and South Dakota, providing retail and
commercial banking services. TCF also conducts commercial leasing and
equipment finance business in all 50 states, commercial inventory
finance business in the U.S. and Canada, and indirect auto finance
business in over 30 states. For more information about TCF, please visit www.tcfbank.com.
About Odessa Technologies, Inc.
Odessa Technologies is a software company exclusively focused on the
leasing industry. The company is headquartered in Philadelphia,
Pennsylvania and employs a staff of 250 people. Odessa is a developer of
the LeaseWave suite of products, a fully integrated browser-based lease
and loan management solution, providing an end-to-end origination and
portfolio management system for equipment leasing and finance, vehicle
leasing and fleet management companies. The LeaseWave suite is
specifically engineered to be configurable to accommodate even the most
complex business model, as evidenced by Odessa’s diverse customer base.
Source: TCF Financial Corporation
TCF Financial Corporation, Wayzata
Jason Korstange, 952-745-2755