ID Analytics Partners with Global Debt Registry to Support Investment in Online Lending Growth
Partnership Enhances Online Lending Network to Expand Capital Access
DANA POINT, CALIF., MARKETPLACE LENDING & ALTERNATIVE FINANCING SUMMIT— ID Analytics LLC, a leader in consumer risk management, today announced a strategic partnership with Global Debt Registry (GDR), the loan validation experts, to give investors and capital lenders greater confidence in online lending assets. In today’s digital world, borrowers are expecting immediate loans requiring efficient access to permanent capital sources. Meeting that expectation requires greater asset certainty for institutional investors through independent validation of loan data integrity.
GDR is re-defining investor due diligence standards in marketplace lending to spur growth in the sector. As a partner to online lenders, investors, and warehouse lenders, GDR ensures proper validation and protection of assets with its suite of digital due diligence solutions. GDR’s central collateral pledge registry protects warehouse lenders from double pledging and its chain of title tracking enables secondary market sales and ensures downstream collectability. GDR provides online lenders a safe and sound process to enable Personally Identifiable Information (PII) to be used for data validation and analytics by their investor base while only sharing the PII with GDR thus protecting both online lenders and investors from the risks associated with mishandling consumer information. .
“As the marketplace lending industry matures, it’s critical that the proper risk infrastructure is put in place to protect all market participants,” said Mark Parsells, Executive Chairman and CEO, Global Debt Registry. “We are pleased to partner with ID Analytics to add their authentication, identification, credit and fraud risk tools to our suite of asset certainty products to give investors greater confidence in these loans.”
GDR digitally validates and certifies 100 percent of consumer accounts in an investment portfolio, which reduces risk, boosts investor confidence and addresses SEC due diligence expectations. Providing risk infrastructure to both marketplace lending platforms and institutional investors means larger, more risk averse investors can participate in loans funded through marketplace lenders with greater assurance.
Data validation from GDR will be integrated alongside the recently launched Online Lending Network consortium that was created to enhance responsible lending, help protect consumers and investors, and address credit and fraud risks. Founding members are leaders in online, marketplace, specialty finance and social lending. The network has achieved significant coverage of prime and sub-prime lending in only a few months, including more than two-thirds of marketplace lending activity.
“We created the Online Lending Network to enhance responsible lending, and address credit and fraud risks,” said Scott Carter, CEO, ID Analytics, “This partnership allows us to leverage GDR’s deep experience in loan validation to increase institutional investor confidence and help support the sound growth of capital investments for our Online Lending Network members”.
About ID Analytics LLC
ID Analytics is a leader in consumer risk management with patented analytics, proven expertise, and near real-time insight into consumer behavior. By combining proprietary data from the ID Network® — one of the nation’s largest networks of cross-industry consumer behavioral data—with advanced science, ID Analytics provides in-depth visibility into identity risk and creditworthiness. Every day, many of the largest U.S. companies and critical government agencies rely on ID Analytics to make risk-based decisions that enhance revenue, reduce fraud, drive cost savings, and protect consumers. ID Analytics is a wholly-owned subsidiary of LifeLock, Inc. please visit us at www.idanalytics.com.
About Global Debt Registry (“GDR”)
GDR, a FinTech Company headquartered in Wilmington, Delaware, is committed to developing tools to help better manage the investment risks associated with consumer lending. The Company is backed by a $5 Billion private equity firm and is led by the former President of Citibank Online with a team of senior executives from American Express, Bank of America and Barclays. The management team includes experts in consumer lending, risk, financial technology, data security and compliance. GDR’s secure, PCI compliant digital platform is currently used by over 50 financial institutions for the tracking of ownership and validation of account information of consumer loans in a variety of asset classes including auto finance, credit cards, student loans and medical debt. Further information can be found at www.globaldebtregistry.com
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