OLE-DB stands for Object Linking and Embedding, Database. It is an API(Application Program Interface), which is used for accessing different types of data stores in a uniform manner. It was designed as a higher-level relpacement for, and successor to ODBC. It has the feature set to support a wider variety of Non-relational database, such as object database and spreadsheets, etc.,
In addition to the Teradata OLEDB Provider, there is an "OLEDB Access Module" that interfaces the Teradata utilities like FastExport and FastLoad with an OLEDB application. See the Access Module Reference manual for details.