Monthly income paid on fixed date

When I first joined I was expecting to receive interest at the start of each month, as is the standard for bank accounts.

However I see the logic and even the benefits of the current arrangement, and as others are saying, as long as the money keeps trickling in then never mind the why and wherefore.

I find it strange that for you SS takes ages to reconcile. For me it is an excel download, pivot table update and job done - a few minutes at most.

And the fact that I only have to do it once a month after interest is paid is a bonus. I appreciate various platforms will choose to do things differently for a variety of reasons, but the method SS have chosen - paying interest on a fixed date - evidently saves them admin time/cost and it saves me time as well, so all round it is a good thing.

Processing all payments once a month is all well and good on a new platform. But as the platform matures, number of loans increase, and possibly number of lenders flattens out, one finds a couple of bad effects:

1.  The monthly payment run takes longer and longer, running into several days.
2.  The monthly payment run stresses the server processing capacity (whereas for the rest of the month it more or less ticks over). So the platform needs more processing power just to cover one or two days a month.
3.  As lenders become fully invested and are only re-investing income, loans tend to only fill immediately after the payment run, so to ensure loans fill they tend to only be put up to coincide with the payment run. Loans put up at other times are mainly only taken by new investors and can be slow to fill.

It would be quite difficult to change from paying once a month to paying throughout the month; it could take years to achieve an even spread (depending on average loan length).