SOURCE: Orchard Platform

September 12, 2016 08:00 ET

Orchard Platform Launches Data Partner Program for Loan Originators

Program Benefits Include Peer Benchmarking, Data Quality, and Counterparty Reporting

NEW YORK, NY--(Marketwired - Sep 12, 2016) - Orchard Platform, the leading technology and data provider for online lending, today announced the launch of the Orchard Data Partner Program, which includes loan data from a range of leading online lenders. The Orchard Data Partner Program is part of the Orchard for Originators product suite. The suite provides unbiased third-party validation of the internal consistency and quality of an originator's data. Through the Orchard Data Partner Program, qualifying originators will gain the ability to analyze and compare their loan performance to that of their peers (on an aggregated and anonymized basis), and share their data in a consistent and transparent manner with new and existing capital providers.

The Orchard Data Partner Program establishes a framework for loan originators to share their origination and performance data within the Orchard ecosystem in exchange for detailed asset class analytics. By securely submitting loan and payment data to Orchard -- and having Orchard standardize the data -- originators have access to a number of unique product offerings, including Education & Insights, Data Integrity, and Reporting & Analytics. Originators also have access to a centralized data storage facility, which can be opened to current and prospective whole loan buyers and other parties during the due diligence process. Institutional investors seeking to take a growing position in this market have a desire to utilize this information in a transparent and user-friendly way, and the Orchard Data Partner Program provides originators with a scalable solution that helps investors assess such opportunities.

"This is a game-changer for our origination partners, because they now gain assurance that their datasets are verified and complete, while investors gain access to consistent and standardized datasets," said Matt Burton, CEO of Orchard. "The due diligence process that originators face when dealing with institutional investors has become more difficult and time-consuming. The Orchard Data Partner Program supports their ability to maintain investor confidence and execute with greater transparency at scale."

"The ability to seamlessly access standardized loan-level data from originators through Orchard can support investors' ability to seek to transact more efficiently," said Carlos Nogueira, investment team member at VanEck Associates Corporation. "We are big supporters of online lending and are pleased to see the ecosystem mature in a robust manner that provides enhanced disclosure and insights."

Featured products in the Orchard Data Partner Program include:

  • Education & Insights
    • Industry Reports
    • Market Insights
  • Data Integrity
    • Quality Assurance
    • Data Standardization
    • Quality Control
  • Reporting & Analytics
    • Market Data
    • Investor Dashboard

The Orchard Data Partner Program currently tracks over $33B in loan originations. Orchard performs hundreds of ongoing quality assurance and quality control checks from a range of qualified consumer unsecured and small business originators. If the underlying data is the source of an issue, Orchard will work with the originator to quickly resolve it. Quality check reports disclosing summary-level and detailed loan-level results are provided to originators in order to proactively address potential issues. The Orchard Data Partner Program is a unique offering that helps originators maintain their commitment to delivering quality products to borrowers and investors. 

About Orchard

Orchard is the leading provider of technology and data to the online lending industry, powering the interaction between institutional investors and loan originators. Founded in New York City in 2013, Orchard's mission is to build the systems and standardize the data that will allow online lending to efficiently grow into a global financial market. Orchard provides products and services to investors that enable them to understand, access, and execute online lending investments, including Market Data, Reporting & Analytics, and a powerful Order Management System. Orchard offers originators an integrated platform that empowers them to more efficiently and intelligently participate in online lending through Education & Insights, Reporting & Analytics, and Investor Awareness products, including the Orchard Data Partner Program, and access to a diverse group of institutional investors who use Orchard to purchase online lending assets. Orchard has been named to Forbes Next Billion Dollar Startups list, produces the Orchard US Consumer Marketplace Lending Index -- the only industry-wide benchmark distributed on the Bloomberg Professional service -- and is recognized for its technical and analytical thought leadership as explored on its blog.

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