Global Debt Registry (GDR), a Fintech firm that provides asset verification for institutional investors and warehouse lenders in the online lending market, has announced it has topped $1.5 billion in loans validated from leading online lenders. GDR says that has processed 100,000 online, unsecured consumer accounts representing more than three million individual account data points in certifying these loans. GDR states;
“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.”
“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,” explained Charlie Moore, President of 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 and investors to validate the integrity of loan and borrower data. GDR’s tools are customized for each servicing platform and enable users to add custom verification rules to confirm compliance with purchase criteria.
GDR announced earlier this year it had developed 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.