Global Debt Registry Partners Adds Prosper To Verification Network

Apr 5 2017 | 4:34pm ET

Loan data specialist Global Debt Registry (GDR) has announced its third partnership in the last three weeks, inking an agreement to add leading online lending platform Prosper Marketplace to its verification network.

The partnership will allow Prosper investors access to GDR’s independent due diligence tools in order to ensure loan data integrity, the company said in a statement earlier this week. Prosper, with more than $8 billion in consumer loans funded through its platform to date, successfully piloted GDR connectivity in 2016 and is now enabling investors to access GDR’s solutions as a turn key autonomous solution.

News of Prosper’s inclusion into GDR’s network comes comes just one week after the firm finalized an affiliation with TransUnion and two weeks after online lender Avant became a partner.

"We’re pleased to be working with GDR to give our investors increased transparency through this independent loan data integrity service,” said John Goldston, director of capital markets for San Francisco-based Prosper, in the statement. “GDR’s eValidation and eVerify asset certainty tools fit easily into our existing data structures and processes, allowing our investors to seamlessly access GDR’s enhanced verification and loan-level diligence services.”

“We’re thrilled that a leading lending platform like Prosper has chosen to connect with our service, making our loan validation tools easily accessible to their investors,” added said Charlie Moore, president of GDR.

As a partner to online lenders, investors, warehouse lenders and other industry stakeholders, Delaware-based GDR delivers real validation and helps ensure asset certainty (including loan data integrity) and protection against double pledging through its suite of digital due diligence solutions.

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. GDR was the subject of a FINtech Focus article on FINalternatives last year. 

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