SAN FRANCISCO, CA. (PRWEB) FEBRUARY 23, 2017
http://www.prweb.com/releases/2017/2/prweb14076467.htm#!
VeriComply announced today the hiring of Roger Dickerson as President to lead the Company’s expansion into the Marketplace Lending industry. VeriComply has developed a suite of products and services to verify the accuracy of loans being sold into the secondary market. The automated loan verification service validates the accuracy of loan data against the loan documents and creates an audit history that follows the loan. The Company’s solutions enables the verification process to keep pace with the increase in asset velocity of Marketplace Loans.
Prior to joining VeriComply, Mr. Dickerson was VP of Finance Operations at LendingClub where he oversaw investor operations. These operations included processes and technology for order fulfillment, reporting, custody, cash and asset documentation. During his 5-year tenure, Roger facilitated $23 approximately Billion of loans to institutional investors.
Prior to joining LendingClub he was CFO and CCO at PageMill Partners, which provides M&A advisory services to the technology industry. Prior to PageMill, he was a Director of Corporate Development at Charles Schwab and a Director of Strategic Finance and Planning in the Schwab Technology Group. Mr. Dickerson has his B.S., Accounting from DePaul University and a MBA from the University of Chicago.
“Roger Dickerson brings deep expertise in implementing solutions for LendingClub to facilitate loan sales, financings and securitizations of marketplace loans. He can now leverage that unique skill set with the VeriComply technology and processes to help the entire Marketplace Lending industry build greater trust of institutional investors”, commented Roger Cohen, CEO of VeriComply.
“After my career at LendingClub, I had many opportunities, but chose VeriComply as it has the technology, expertise and solution minded culture to help Marketplace Lending instill even greater investor trust in the loans,” said Roger Dickerson. “I am excited to be leading the effort to bring these solutions to the industry.”
About VeriComply.
VeriComply automates the verification of marketplace loans for the secondary market. The Company’s proprietary technology platform and process automatically recognizes loan files, extracts and validates loan data against the source documents and creates a complete audit history. The platform can be integrated with origination, servicing and data aggregation systems to keep accurate loan documents always accessible.
http://www.vericomply.com
DocuNECT v5.1 is Released with Support for Microsoft Azure
/in DocuNECT, News /by Bruce BoltonDocuNECT v5.1 adds support for Microsoft Azure. You can now deploy the DocuNECT platform to the Azure cloud utilize the Microsoft SQL as a Service.
Multi Virtual Print Driver
This release has also seen a significant upgrade to the Virtual Print Driver module, allowing multiple virtual print drivers to be deployed to support different business processes and increase automation.
Smoother UI
We are continuing to improve the User Interface with several usability and performance enhancement to reduce the mouse clicks and increase efficiency.
VeriComply Hires Former LendingClub Executive as President
/in DocuNECT, News /by Bruce BoltonSAN FRANCISCO, CA. (PRWEB) FEBRUARY 23, 2017
http://www.prweb.com/releases/2017/2/prweb14076467.htm#!
VeriComply announced today the hiring of Roger Dickerson as President to lead the Company’s expansion into the Marketplace Lending industry. VeriComply has developed a suite of products and services to verify the accuracy of loans being sold into the secondary market. The automated loan verification service validates the accuracy of loan data against the loan documents and creates an audit history that follows the loan. The Company’s solutions enables the verification process to keep pace with the increase in asset velocity of Marketplace Loans.
Prior to joining VeriComply, Mr. Dickerson was VP of Finance Operations at LendingClub where he oversaw investor operations. These operations included processes and technology for order fulfillment, reporting, custody, cash and asset documentation. During his 5-year tenure, Roger facilitated $23 approximately Billion of loans to institutional investors.
Prior to joining LendingClub he was CFO and CCO at PageMill Partners, which provides M&A advisory services to the technology industry. Prior to PageMill, he was a Director of Corporate Development at Charles Schwab and a Director of Strategic Finance and Planning in the Schwab Technology Group. Mr. Dickerson has his B.S., Accounting from DePaul University and a MBA from the University of Chicago.
“Roger Dickerson brings deep expertise in implementing solutions for LendingClub to facilitate loan sales, financings and securitizations of marketplace loans. He can now leverage that unique skill set with the VeriComply technology and processes to help the entire Marketplace Lending industry build greater trust of institutional investors”, commented Roger Cohen, CEO of VeriComply.
“After my career at LendingClub, I had many opportunities, but chose VeriComply as it has the technology, expertise and solution minded culture to help Marketplace Lending instill even greater investor trust in the loans,” said Roger Dickerson. “I am excited to be leading the effort to bring these solutions to the industry.”
About VeriComply.
VeriComply automates the verification of marketplace loans for the secondary market. The Company’s proprietary technology platform and process automatically recognizes loan files, extracts and validates loan data against the source documents and creates a complete audit history. The platform can be integrated with origination, servicing and data aggregation systems to keep accurate loan documents always accessible.
http://www.vericomply.com
Digital Compliance in Marketplace Assets in the Secondary Market
/in DocuNECT, Financial Services, News /by Bruce BoltonMarketplace lending is transforming many aspects of the lending industry. The technology platforms on which these marketplaces operate affect both the origination and the secondary market into which these loans are sold and increasingly securitized. Intuitive webpages collect borrower data, algorithms automate underwriting, providing borrowers with lower rates, better user experience and faster closings. Investors can select digital assets with filters and apply their own algorithms to earn higher returns than other asset classes.
While this first wave of Fin Tech has accelerated asset velocity, it has not created trust in the accuracy of these financial assets. The traditional approach to this challenge is to verify the accuracy of the key loan data tape elements and loan file completeness. This service is typically performed by the Document Custodian who when onboarding the documents into its system acts as the Verification Agent. The Verification Agent Certificate is issued to the warehouse lender, securitization trustee or other “economic buyer” and attests to the accuracy of the loan pool.
While this approach worked well in the paper world, several trends require a new approach which can deal with each of the following:
In response to these trends, VeriComply has developed a solution that achieves these four objectives. As depicted in the diagram, here is how it works:
Benefits. This solution offers benefits to the entire marketplace ecosphere: