BNY partners with SFA, Snapdocs to develop VeriCORE registry for ABS market
BK•BNY is partnering with the Structured Finance Association and Snapdocs to develop VeriCORE, a digital collateral registry for U.S. consumer lending and asset-backed securities, with an initial launch targeted for 2027.
1. Registry development
VeriCORE is intended to digitize loan transfers, strengthen collateral controls and help detect fraud. Snapdocs will develop and maintain the technology, while BNY will contribute market infrastructure expertise. The initial launch is targeted for 2027, with support for auto loans and lease agreements.
