Digital transaction company eOriginal announced on Thursday it has joined the Marketplace Lending Association (MLA), which promotes a transparent, efficient, and customer-friendly financial system by supporting growth of the marketplace lending industry.
“As Marketplace Lending continues to advance, stakeholders are concerned with the processes surrounding digital transactions, the integrity of what is being purchased, speed of execution and enabling processes that allow a multitude of players in different roles to participate, all while keeping rights, privileges and regulation in mind. We are committed to provide our expertise to the industry as the complexity of online lending continues to expand.”
eOriginal revealed that as a member of the MLA it will focus on empowering industry-wide discussion in regards to how technology can enhance and enable digital transaction capabilities to more securely manage and transfer loan agreements. Nathaniel Hoopes, MLA’s executive director, added:
“The MLA is thrilled to welcome eOriginal as an Associate Member. eOriginal’s experience in policy issues surrounding electronic transactions and documentation will be a great asset to the MLA and its membership. MLA member companies continue to innovate and create new opportunities for borrowers and investors, the association will play an important role in sharing data and insights that help educate policy makers on the benefits that these companies bring to consumers, businesses and our financial system.”
Formed in 2016, the MLA members include LendingClub, Prosper, Funding Circle, Avant, Marlette, CommonBond, Upstart, LendIt, and dv01.