Global Debt Registry (GDR), the asset certainty company known specializing in loan validation, will be utilizing data from credit information provider TransUnion in order to extend the range of GDR’s eValidationSM services for investors and issuing creditors in the online lending industry. By combining GDR’s expertise in real validation of underlying loan data with trusted third-party information providers such as TransUnion, the aim is to give investors greater insight and confidence in their online lending portfolios than achieved in traditional verification programs.
“Confidence in the online lending ecosystem is a crucial element to enable continued growth in the industry and attract more permanent capital,” observed GDR President Charlie Moore. “GDR is pleased to be working with TransUnion, a leader in the credit data space. Their data allows our investors to gain more confidence in the underlying assets through verification, validation, and enhanced credit risk tools.”
With TransUnion data, investors can obtain in-depth validation of their online lending portfolios while minimizing the exposure of risks associated with managing and protecting confidential consumer data. Additionally, originating creditors are able to leverage an independent third-party service made possible by GDR’s use of TransUnion data to validate certain account data on loans provided to them by online lending platforms. Similarly, warehouse lenders have greater and much needed transparency into these pledged assets and can do so within the current FCRA/GLBA regulatory framework. Last week GDR added online lending platform Avant to its verification network.