Association of German Lending Platforms rebrands
The Association of German Lending Platforms has rebranded as the Digital Lending Association to reflect “market development” and the trade body’s expanded focus.
The organisation’s general meeting unanimously approved the change today.
“The renaming is a consequence of the market development and our positioning activities in recent years”, said Constantin Fabricius, the trade body’s managing director.
“Digital Lending has developed into an attractive asset class in the private debt segment worldwide and especially in Europe – it is therefore only logical that the VdK becomes the Digital Lending Association.”
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The association was founded on 4 June 2019, and now has 27 members. Headquartered in Berlin, the association originally stood for investment in senior loans alone, however the membership now includes more specialised service providers along the value chain – from digital onboarding to receivables management.
“Unlike in America, Asia or Africa, there still exists no organisation in Europe that holistically addresses the topic of digital lending as part of the ‘non-bank lending’ sector and carries this in its name,” it said. “With its name change, the trade body fills this gap.”
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The trade body claims the name change means “it assumes the leading role as a point of contact for investors, politics, supervision and the media.”
The association said it will continue to focus on the development of industry standards and raising awareness of digital lending, as well as being involved in the process to complete the Capital Markets Union.
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