New York, NY, June 29, 2017 --(PR.com
)-- Global Debt Registry (GDR), the asset certainty company known for its loan validation expertise, today announced the completion of a secure permissioned blockchain proof of concept (“POC”). The firm’s inaugural blockchain POC lays the groundwork to provide investors and senior lenders in the online lending space with a safe and secure way to confirm loan ownership and collateral interests across companies within the ecosystem.
By leveraging blockchain technology, GDR is providing investors in the online lending space with an immutable audit trail and a single, consistent source of core loan data. This allows investors to more confidently manage underlying loan data and ensure proper validation of their loan portfolios.
“We are excited to be driving the technological innovation of blockchain, bringing new value to the world of online lending,” said Charlie Moore, President, GDR. “By harnessing blockchain capabilities and applying them to our collateral pledge management and asset validation tools, we are able to deliver new levels of confidence and certitude to our partners in the investor ecosystem.”
In developing the blockchain POC, GDR worked with three leading blockchain platforms -- Hyperledger, Ethereum and Chain. The firm has also been participating in strategy development with the Wall Street Blockchain Alliance and Structured Finance Industry Group (SFIG) Blockchain Task Force, two organizations committed to increasing industry adoption of distributed ledger technology across financial markets.
“We see the real value of blockchain, and it’s much more than a buzzword or an industry trend,” said Robert Brown, Chief Technology Officer, GDR. “Blockchain technology is ideally suited to the set of solutions we offer clients – it enables our clients to have an immutable, consistent view of the state of a loan across its entire lifetime, thereby increasing trust and certainty around lending activity. As blockchain technology matures and standards are created, we look forward to playing a lead role to represent the investment community in this new asset class and enable future value creation through the use of smart contracts.”
Through its suite of digital due diligence solutions, GDR offers digital lenders, investors and senior lenders real loan validation and protection of ownership and collateral position. GDR’s blockchain development comes at a time of robust growth within the firm’s partnership network with the recent addition of industry leaders TransUnion, Equifax, IDAnalytics, Avant and Prosper. Earlier this month, GDR also announced its designation as "Best Business Lending Product" at the FinTech Breakthrough Awards.
About Global Debt Registry (“GDR”)
GDR is a Private Equity backed FinTech company that provides asset certainty for institutional investors and warehouse lenders in the digital lending market. GDR ensures that the data underlying the loans is real and accurate by validating loan information against trusted third-party data sources. GDR’s tools help both investors and warehouse lenders better manage risks associated with digital consumer loans and enable digital lenders to attract more permanent capital. The Company is backed by a $5 Billion private equity firm and is led by a team of senior executives from Thomson Reuters, Credit Suisse, Bank of America and Barclays. Further information can be found at www.globaldebtregistry.com.