Global Debt Registry Verifies Over $1.5 Billion in Loans


Press release by FAST FINANCE IFN on 16th October 2017


GDR reaffirms role as a leader in online lending with extensive implementation of state-of-the-art digital loan verification services

October 16, 2017 – New York, NY - Global Debt Registry (GDR), the asset certainty company known for its loan validation expertise, today announced it has exceeded a $1.5 Billion of loans issued by leading digital lending platforms and verified by the Company’s suite of due diligence solutions. On the heels of the GDR’s announcement of its successful SOC 1 Type 2 and SOC 2 Type 2 attestations last week, this achievement confirms the Company’s role as a leader in online lending’s ongoing expansion, driving capital growth in the sector by providing certainty and transparency around investors’ online lending portfolios and protection against risks surrounding the loan data integrity.

In verifying over 100,000 online, unsecured consumer accounts valued at over $1.5 Billion, GDR confirmed more than three million individual account data points including 100% loan file review of loan file data against promissory note & TILA documents within a period of hours as opposed to the standard of several days.

“The increasingly widespread adoption of GDR’s services this year demonstrates the significant and tangible value of our trusted loan verification solutions to the industry,” said Charlie Moore, President, GDR. “When investors are confident in the quality of underlying assets, they will grow their online lending portfolios. We are dedicated to achieving the highest standards in investor due diligence, continuing to spur confidence and increase investor participation in the online lending market.”

GDR’s automated verification process enables online lenders, investors, and warehouse lenders to validate the integrity of loan and borrower data and supporting documents for these assets. GDR's tools are customized for each servicing platform and enable users to easily add custom verification rules to confirm compliance with purchase criteria. The comprehensive tests are performed on all loans in a selected portfolio.

 

Earlier this year GDR announced the development of a secure, permissioned blockchain proof of concept, built to provide investors in online lending with an immutable audit trail and a single, consistent source of core loan data.

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