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Global Debt Registry Raises the Bar on Lending Ecosystem Information Security


Press release by Caliber Corporate Advisers on 9th October 2017


GDR Successfully Completes SOC 1 Type II and SOC 2 Type II Review of Internal Controls and Processes; Continues to Exceed Industry Standards 

October 9, 2017 – New York, NY - Global Debt Registry (GDR), the asset certainty company known for its loan validation expertise, today announced the successful completion of its Service Organization Control [SOC] 1 Type II and SOC 2 Type II attestation reports. Performed by KirkpatrickPrice, the independent audit confirms GDR’s internal security controls meet the American Institute of Certified Public Accountants’ (AICPA) applicable Trust Services Principles and Criteria. These latest verifications reaffirm GDR’s position as a leader in the online lending space for security and operational integrity in providing asset certainty and validation through its suite of digital due diligence solutions.   

 

The SOC 1 Type II audit assessed GDR’s consistent application of internal controls and processes to protect consumer data, maintain operational integrity and comply with industry regulations over a six-month period. The SOC 2 Type II review compared the strength of those internal policies and controls with the AICPA’s own Trust Services Principles of security, availability, confidentiality and processing integrity. The SOC 2 Type II attestation provides a comprehensive and integrated assessment of an organization’s data security and integrity control framework to industry stakeholders -- and is missing from organizations which choose to obtain a SOC 1 Type II exclusively and point to their cloud provider’s or vendors’ SOC 2 Type II attestation reports.  

 

The successful completion of these verifications demonstrates GDR’s continued commitment to achieving the highest standards of data security and integrity in the industry, providing GDR’s clients with greater confidence that their confidential information is receiving the most robust levels of security.

 

“We are single-minded in our focus to create the safest and most secure data environment for our clients,” said Charlie Moore, President, GDR. “With this latest round of SOC attestations, we are reaffirming our role as a trusted partner in the online lending market with the most comprehensive data and information protection achievable. We encourage the broader lending industry to join us in adopting the SOC 2 Type II certification beyond just their outsourced data centers, but for their overall business.”

 

With its suite of online lending verification tools, GDR helps online lenders, investors, and warehouse lenders protect against loan data integrity issues and mis-pledging of assets. Earlier this year, GDR announced its compliance with SOC 1 Type I and SOC 2 Type I. The Company is also compliant with additional industry standards such as PCI DSS (Payment Card Industry Data Security Standard), the GLBA (Gramm Leach Bliley Act) Safeguards Rule, and ISO 27002 (International Organization for Standardization 27002).

GDR engaged KirkpatrickPrice, a licensed CPA and PCI QSA firm, to perform this latest round of SOC audits and compliance testing of GDR’s internal administrative, physical, and technical controls and processes that relate to client’s financial statements and affect security, availability, processing integrity, and confidentiality.

About Global Debt Registry (“GDR”)

GDR is a Private Equity backed FinTech company that provides asset certainty for institutional investors and warehouse lenders in the online lending market. GDR ensures that the data underlying the loans is real and accurate by validating loan information against trusted third-party data sources.  GDR’s tools help both investors and warehouse lenders better manage risks associated with online consumer loans and enable online lenders to attract more permanent capital. The Company is backed by a $5 Billion private equity firm and is led by a team of senior executives from Thomson Reuters, Credit Suisse, Bank of America and Barclays. Further information can be found at www.globaldebtregistry.com

 

Media Contact

Kristina Pereira Tully

Caliber Corporate Advisers

kristina@calibercorporate.com

888.550.6385 ext.5