Global Debt Registry is riding the exciting wave of fintech innovation by coupling the very human banking expertise of its founders with ever-advancing technologies to bring a sense of security in the world of lending. It all began just over 10 years ago when a group of industry veterans recognized the inefficiencies, risks and abuses inherent in buying and selling consumer loans and envisioned a digital solution to fix them.
Global Debt Registry provides “a third-party check that the core information being provided by lenders is accurate. It checks 100 percent of the loans in a particular portfolio before certifying them as genuine,” according to “Lending Times.” This is done by digitally validating loan information against trusted third-party data sources.
A review by Global Debt Registry is quickly becoming the industry’s independent, trusted seal of approval.
Global Debt Registry services include: eValidationSM, which is validation of the integrity of key data points to
confirm borrower identity, credit representation, loan disbursement and document validation.
- eVerifySM, which is digital verification of data in online loan documents against the loan tape for investors.
- eDataStoreSM, which gives investors access to third-party data to better manage risks.
- ePledgeSM, which is a management tool to reduce errors and the possibility of double pledging, allowing warehouse lenders to better monitor loan ownership.
We asked Robert Brown, Global Debt Registry’s chief technology officer, about the company’s goals and industry innovation.
“I’m excited about momentum in this space in general,” he says, noting that Global Debt Registry is very focused on needs and solutions around marketplace lending. “We completed a market analysis to understand the pain points regarding asset certainty, and based on those findings, we’ve built a platform to give investors increased confidence in online lending assets and to improve transparency. We’ve successfully completed pilots with Prosper and Avant over the last year and continue to expand the platform and data services.”
Brown sees many ways Global Debt Registry can take advantage of blockchain technologies. “We are working on an internal proof of concept of a private, permissioned blockchain. The services we currently provide are good use cases for applying a distributed ledger solution, especially in the areas of collateral pledge management and asset validation.”
Companies in a private network can use a blockchain ledger to collectively manage a shared, time-stamped set of records that can’t be changed. For Global Debt Registry, this would include information around the collateral pledge status or the level of validation for a loan. “We are evaluating several of the leading blockchain platforms as part of this effort,” Brown adds.
He is equally excited that financial institutions are turning to cloud-based activities. “That will be really transformative.” He touts the Amazon web services they use as “very innovative and very fast.”
Brown says Global Debt Registry expects to expand in Delaware as it continues to pursue its goals. “Delaware has a deep talent pool when it comes to financial services … there are lots of resources available in the space.”