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Post by flx123 on Jan 25, 2016 8:56:05 GMT
martinsSinilar to czech , for now 14 days in a row AutoInvest did not put a single Euro into personal loans for me. And this despite the availability of such loans announced many times by your daily emails in the meantime. You can defend the current system as much as you want, it is clearly not working for some investors. And given that the poll in this post suggests that 75% of your investors are unhappy with the current state of affairs, maybe the situation is worth another thought?
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Post by martins on Jan 25, 2016 12:23:08 GMT
The simple fact is that investor demand for personal loans is much higher than loan supply. In this case whatever queuing system we introduce it will leave some investor demand unsatisfied. If loan supply is say EUR 10'000 a day (numbers are just to illustrate the case) but investor demand is EUR 50'000 then there will be EUR 40'000 demand left that is not satisfied. Larger investor who wants to invest say EUR 20'000 but could not invest all of that will be unhappy so as a smaller investor who wants to invest just EUR 100 but could invest only a fraction of it, if at all.
So when demand is higher than supply it is a matter of balancing (dis)satisfaction between larger and smaller investors. While the Auto Invest logic takes into account various factors we acknowledge that it is currently more favourable to larger investors. Which balance yields the highest utility to the investor base as a whole is probably a question of a separate study.
Meanwhile, we are working on connecting other loan originators as well as expanding the offering of current loan originators that should increase the loan supply. We would also like to take an opportunity and emphasise that it is a good idea to diversify across loan products and loan originators, and also countries - something that can be easily done at Mintos.
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Sr. Lobo
Member of DD Central
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Post by Sr. Lobo on Jan 25, 2016 18:41:23 GMT
I don't understand this topic. For me the problem with autoinvest is that there is loans that meet the criteria not been buyed for some time now
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shimself
Member of DD Central
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Post by shimself on Jan 25, 2016 19:18:51 GMT
It appears that history repeats itself. I remember we had the same conversation in 2013 in the discussion board at Bondora. The result was that Bondora did not listen to the suggestions and screwed investors. I hope that Mintos is different. The problem with Bondora was that they made loads and loads of bad loans. It grew the size of the loan book and the sums invested very succesfully, so they thought great we are expanding enormously we are doing really well, while all the time they were handing our money out to any scoundrel who could come up with half an entry in a phone book. Sadly if you go to Mintos stats page www.mintos.com/en/statistics/ that too shows the size of the loan book as being their number one stat. Having said which some of their intermediaries do seem to be in business for the purpose of making profit from their lending, but still I would be much happier if they focused less on loan book size and more on return.
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Post by martins on Jan 25, 2016 20:12:32 GMT
That shouldn't be the case. Please contact support@mintos.com and our support will take a look, most likely there are some conflicting criteria set. I don't understand this topic. For me the problem with autoinvest is that there is loans that meet the criteria not been buyed for some time now
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davex
Member of DD Central
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Post by davex on Feb 1, 2016 23:27:27 GMT
Just funded my new account by €300. Set autoinvest to only select loans with buyback, the whole lot was invested straight away, in 10€ The same happened last month on a €300 deposit. Seem to be working for me.
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JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Feb 2, 2016 9:43:28 GMT
There are hundreds of personal loans available now but the rate has dropped to 12.5%. They are obviously very sensitive to interest rate so they are trying to see how low they can go without the demand drying up.
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Post by gmaxkenny on Feb 2, 2016 11:06:27 GMT
There are hundreds of personal loans available now but the rate has dropped to 12.5%. They are obviously very sensitive to interest rate so they are trying to see how low they can go without the demand drying up. If you can get 12.9% for the same type of loan on Twino, and there are lots of them available also at the moment,it make sense to invest in Twino at present. Competition I love it.
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p2pmaster
investment is life.
Posts: 128
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Post by p2pmaster on Feb 2, 2016 11:10:23 GMT
Competition is great, but diversification (platforms and loan products) is the key given less than 1% diff.
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Post by zeverare on Feb 2, 2016 11:52:55 GMT
In the second half of january I did not get any personal loan with autobid so I diversified in other loans. Now they lowered the interest rate and there are plenty of personal loans available but I can't and won't buy them because nearly ALL of the creamfinance loans that should repay now are LATE. Guess it is a typical problem with end of the year where people want to buy presents, travel to their family... and cannot afford it but it is bad timing to decrease interest rate for new loans now.
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Post by gmaxkenny on Feb 2, 2016 12:00:28 GMT
Competition is great, but diversification (platforms and loan products) is the key given less than 1% diff. Very true but for those of us well diversified in both platforms and loan types it pays to chase higher rates for similar loans offered by competing platforms.
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Post by redbull666 on Feb 2, 2016 14:01:36 GMT
It appears that history repeats itself. I remember we had the same conversation in 2013 in the discussion board at Bondora. The result was that Bondora did not listen to the suggestions and screwed investors. I hope that Mintos is different. Please don't confuse 25 votes on a somewhat obscure forum with the "will of the people". It is up to Mintos how to handle this, and if they want to favor their larger customers, that's entirely up to them, this is not a socialist or democratic platform. You can also take your business elsewhere if you are not happy with the service you are getting. Competition <3
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Post by flx123 on Feb 2, 2016 20:53:59 GMT
redbull666 This is not about socialism or democracy - it is about transparency. Or rather the lack thereof since martins tells us that they cannot discuss how the queue works.
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jimc99
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Post by jimc99 on Feb 3, 2016 2:01:45 GMT
Sorry but I cannot see that there is any problem. I do not have a lot of cash invested but by using the auto invest facility I have no problem getting my money invested, including cream finance.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
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Post by JamesFrance on Feb 3, 2016 8:58:32 GMT
It appears that history repeats itself. I remember we had the same conversation in 2013 in the discussion board at Bondora. The result was that Bondora did not listen to the suggestions and screwed investors. I hope that Mintos is different. Please don't confuse 25 votes on a somewhat obscure forum with the "will of the people". It is up to Mintos how to handle this, and if they want to favor their larger customers, that's entirely up to them, this is not a socialist or democratic platform. You can also take your business elsewhere if you are not happy with the service you are getting. Competition <3 As this forum regularly has over 1000 visitors per day and covers a specialist subject I would hardly describe it as obscure. Most platforms with active discussions here are represented on the forum by their senior management and I would suggest that several of the actively developing businesses have benefited from the opinions shared on the forum.
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