Reflecting the realities of financial services today, the Association of German Lending Platforms (Verband Deutscher Kreditplattformen, VdK), has changed its name to the Digital Lending Association.
The Association represents 27 members and is committed to supporting a viable and transparent digital financing industry while also providing a document that outlines industry standards.
The decision to change the name of the group was approved unanimously during a meeting of the organization.
Constantin Fabricius, Managing Director of the Association, says that digital lending has developed into an attractive asset class for investors both worldwide and in Europe.
Established in 2019 with the four largest lending platforms, the Association now represents the entire spectrum of digital debt financing, such as tokenized bonds or securitizations.
In addition, the membership includes more and more specialized service providers along the value chain – from digital onboarding to receivables management.
The group states there is no other organization in Europe that address the non-bank lending sector, and with the name change it “assumes the leading role” for policymakers, investors, and other interested parties.
The Association adds that it will continue to be involved in the process of completing the EU Capital Markets Union.