Global Debt Registry Uses Electronic Signature Capabilities to Reduce the Title Transfer Process

Headquartered in Columbia, Missouri, Global Debt Registry (GDR) is the nation’s only accounts receivable title origination company. GDR provides account level title and verification services, debt validation, data integrity management and turn-key media management services to the financial services industry. The company serves as transaction facilitators when performing and non-performing receivables are bought and sold as assets in the marketplace.

GDR found that providing A/R title and registry services was a very cumbersome and time consuming process. Traditionally, originating a title and registering a transaction took up to seven business days to finalize the sale and contracts, and to get all the necessary approvals and signatures. GDR was looking for a way to eliminate this bottleneck and reduce the time it took to complete the title transfer process.

GDR decided to take a look at technologies that could help to reduce the title transfer time. Issuers, agency owners, debt buyers, executive level IT managers and developers, data security experts, industry consultants, attorneys, brokers and industry association executives were all consulted during product development.

As a result of this process, Global Debt Registry decided to use an electronic signature process automation solution and has created the first ever Accounts Receivable (A/R) title origination and ownership tracking solution.

This entirely new solution services the multi?trillion dollar accounts receivables management (ARM) industry. By using AlphaTrust Corporation’s PRONTO™ e-signature solution, GDR has been able to create account level electronic titles and substantiate the transfer of rights and interest from sellers to buyers. Clients making substantial investments in these assets require a process that is virtual, easy to use, fast and accurate. PRONTO™ allows transactions to close with an expedient and trustworthy platform, giving GDR’s clients the edge in a highly regulated and sensitive industry.

Utilizing the new e-signature platform, Global Debt Registry has created a new offering for the financial services industry. There are vehicle titles for automobiles and mortgage titles for homes. GDR now provides the first A/R title of origination and ownership of accounts for the ARM industry.

The Results: From 7 Days to 1 Hour

Originating a title and registering a transaction used to take up to seven business days to complete. Now with PRONTO™ it only takes one hour for all parties to complete the title transfer process. The success of GDR’s offering has resulted in its recent acquisition by a multi?billion dollar firm which understands how using e-signature technology can create an entirely new marketplace for an industry.

According to Greg Ousley, CEO of Global Debt Registry, “Using our new e-signature platform has enhanced our ability to deliver value to clients and changed the way in which our industry conducts business. Our A/R title origination and ownership verification, debt validation, data integrity, and turnkey media management solutions provide all of our clients with the opportunity to build trust at the speed of light. It creates a more cost effective and efficient process and in turn establishes a much higher standard for operations and promotes goodwill within the industry. The industry now has a proven and cost effective solution which answers the call of consumers, regulators, judges, and consumer advocates to instill additional integrity and transparency in the ownership and validation of A/R assets.”