Global Debt Registry’s ability to fulfill the unmet need for transparency and reduced risk in the $3.4 trillion non-mortgage consumer debt market has contributed to our ability to grow and ease risks around documentation related challenges.
WILMINGTON, Delaware (PRWEB) October 20, 2015
Global Debt Registry (“GDR”), the first independent debt repository for storing and analyzing consumer debt documentation, today announced it is moving to larger premises, having experienced strong momentum in the second half of 2015 as the debt market continues to experience a greater demand for transparency and document integrity.
The company officially moved GDR headquarters to a larger office space at 3 Mill Road in Wilmington, Delaware to accommodate a growing team of experienced financial, operational, IT and business development professionals.
“Global Debt Registry’s ability to fulfill the unmet need for transparency and reduced risk in the $3.4 trillion non-mortgage consumer debt market has contributed to our ability to grow and ease risks around documentation related challenges experienced by thousands of creditors, collectors and consumers,” said Mark Parsells, Executive Chairman and CEO of GDR.
Throughout the year, the company has achieved several milestones in its mission to reduce risks to creditors associated with document management. GDR brings greater transparency and efficiency in the collections process for creditors, debt collectors and consumers. In addition, GDR filed for patent protection of its Debt Lookup solution, which provides a system and method for consumers to validate debts electronically. GDR also filed its provisional patent applications associated with its debt extinguishment process, which provides a permanent, electronic record for confirming that a consumer debt has been resolved and is no longer eligible for collection or transfer.
This momentum comes on the heels of GDR’s move earlier this year to make its Account Extinguishment Report℠ free to consumers through its Debt Lookup℠ website. The Account Extinguishment Report is a permanent record that protects consumers from attempts to collect on a settled, cancelled or otherwise closed account, also known as “Zombie Debt.” This report helps consumers deal with credit bureau disputes and has experienced growing adoption since its inception.
To learn more about Debt Lookup and the Account Extinguishment Report, visit https://www.debtlookup.com/ and to learn more about how Global Debt Registry is working with financial institutions, creditors and debt collectors to organize and track debt information, visit http://www.globaldebtregistry.com.
About Global Debt Registry
GDR is the SMART℠ document governance solution that enables Financial Institutions to analyze, organize and control documents to lower risk and comply with regulations. GDR unifies document silos and works with existing data architectures to help financial intuitions capture, manage and share this information with authorized users, vendors and consumers. By applying GDR’s proactive document governance, Financial Institutions can ensure that their documents are complete, available, protected and managed through their entire lifecycle. GDR enables consumer account transparency of documentation and centralized enterprise level document reporting. GDR’s turnkey solution is customizable to business needs and more cost effective than internally built solutions. GDR is the only debt registry for non-mortgage consumer debt.
Global Debt Registry was identified by American Banker as one of the strongest new ideas at Finovate last fall. Clients include large creditors as well as debt buyers and their collection agencies. (http://www.globaldebtregistry.com)