May 9 2017 | 8:04pm ET
Loan data specialist Global Debt Registry has partnered with global information solutions giant Equifax that will incorporate the company’s income data into its eValidation suite of verification tools for investors and warehouse lenders in the online lending space.
The news is Global Debt Registry’s third in two months and comes just a couple of weeks after inking a similar deal with credit information specialist TransUnion.
The new partnership will utilize Equifax’s anonymous income data to incorporate additional loan verification data and enable benchmarking and monitoring of income inflation over time, the company said in a statement.
“It’s critical for investors to have the assurance that when they invest in online lending, the loan data is independently, externally validated,” said Charlie Moore, president of GDR. “That certainty and transparency are what will continue to drive growth of capital in the online lending space. We’re excited to work with Equifax given the quality and depth of their data assets to ensure independent loan data integrity along with the ability to monitor and benchmark controls across lenders.”
Through GDR’s portfolio of digital due diligence tools, investors can obtain trusted third-party validation of their online lending portfolios and protection against risks surrounding the loan data integrity.
Backed by a $5 billion private equity firm and led by a team of senior executives from Thomson Reuters, Bank of America, and Barclays, Delaware-based GDR utilizes cutting-edge technology to provide independent asset certainty and validation services across entire portfolios of loans in real time. The company’s asset certainty tools require no technology investment, using existing data structures and processes to streamline the flow of information from the lender to the investor.