A US company building a verification tool for peer-to-peer loans to make sure the people behind them are genuine has seen a spike in demand from banks and hedge funds to use the product, which has yet to fully launch, in the wake of the ousting of LendingClub’s CEO over doctored loan data. Global Debt Registry (GDR), founded in 2006, provides third-party, independent verification of consumer loan data for banks and other lenders. It is currently piloting a tool that provides the same service for marketplace and other online loans.
0 thoughts on “Hedge Funds are Asking for a Tool to Stop Another LendingClub dDisaster”
Comments are closed.