Orchard Publishes White Paper on Data Standardization for Online Lending
The advent of online lending has become a powerful vehicle for providing access to credit for many thousands of businesses and individuals.
Orchard platform has published a white paper on data standardization. While originators may collect reams of information on borrowers, fields do not necessarily sync across platforms leading to data disparity. Creating a uniform set of rules for data across all platforms could dramatically improve the lending process and reduce transaction friction.