registerme
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Post by registerme on Mar 31, 2017 8:06:37 GMT
Well done ablrate!
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pom
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Post by pom on Mar 31, 2017 8:34:26 GMT
Great news... now how about some plane loans?
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mickj
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Post by mickj on Mar 31, 2017 8:40:00 GMT
Good stuff, well done.
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littonowl
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Post by littonowl on Mar 31, 2017 8:42:38 GMT
Congrats ablrate well deserved! Looking forward to hearing about your IFISA...
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Balder
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Post by Balder on Mar 31, 2017 8:58:22 GMT
Congrats ablrate well deserved! Looking forward to hearing about your IFISA... I hope they don't go for IFISA as it will almost certainly drive rates down.........
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elliotn
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Post by elliotn on Mar 31, 2017 9:08:07 GMT
Congrats ablrate well deserved! Looking forward to hearing about your IFISA... I hope they don't go for IFISA as it will almost certainly drive rates down......... As a non-ISA user I dread the immiment wall of money. My only consolation will be stealing their loan parts as they try to transfer them between accounts in the middle of the UK night 😎.
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littonowl
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Post by littonowl on Mar 31, 2017 9:19:27 GMT
I hope they don't go for IFISA as it will almost certainly drive rates down......... As a non-ISA user I dread the immiment wall of money. My only consolation will be stealing their loan parts as they try to transfer them between accounts in the middle of the UK night 😎. Article today from P2P Finance News suggesting it might not be quite 'the wall' we're all expecting..: www.p2pfinancenews.co.uk/2017/03/30/predictions-ifisa-surge-optimistic/Oh, and yeah, I know who to blame now when I'm transferring all my MT loans across in the wee hours!
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Post by ablrate on Mar 31, 2017 9:47:07 GMT
Thanks all. Now the work begins... Pom... your wish is my command.. one coming next week.
Regards Ablrate
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Post by Duane Dibley on Mar 31, 2017 17:01:29 GMT
I guess from previous posts that congratulations are in order, so why not, I'll add mine to them.
But without wanting to point at the Emperor's clothes, what exactly does it mean for Ablrate and more importantly what does it mean for investors?
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Post by ablrate on Apr 1, 2017 8:45:47 GMT
I guess from previous posts that congratulations are in order, so why not, I'll add mine to them. But without wanting to point at the Emperor's clothes, what exactly does it mean for Ablrate and more importantly what does it mean for investors? LOL.. how to rain on or parade! Actually it is a great question, thanks Caratacus, what it does is add a level of certainty to the business model, basically if we keep doing what we are doing then we are within the rules. This helps us plan for the future, it means we can attract the right staff to manage the increased origination, attract financing for expansion if required, innovate new products and all these things help lenders deploy more capital over a more diverse range of loans. The technology will essentially be continually improved to help us and you manage this. Regards Ablrate
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blender
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Post by blender on Apr 1, 2017 12:23:44 GMT
What does it mean? Let's just say that after a couple of years of trading a small, niche, quality platform called Ablrate can proudly claim to have full FCA approval for its product, after a rigorous and time consuming evaluation. Meanwhile another platform called Floundering Circumlocutions, or something similar, which has been trading for six or more years and with vast resources of capital and staff, and who proudly announced their IFISA over a year ago, expecting to start at the beginning of 2016/7 fiscal, subject to the formality of FCA approval, is still not fully approved by FCA. Silence over there. Personally I am very impressed with Ablrate full FCA approval - gives increased confidence in the platform and therefore allows a greater share of the funds.
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Post by Duane Dibley on Apr 3, 2017 10:11:35 GMT
LOL.. how to rain on or parade! Actually it is a great question, thanks Caratacus, what it does is add a level of certainty to the business model, basically if we keep doing what we are doing then we are within the rules. This helps us plan for the future, it means we can attract the right staff to manage the increased origination, attract financing for expansion if required, innovate new products and all these things help lenders deploy more capital over a more diverse range of loans. The technology will essentially be continually improved to help us and you manage this. Regards Ablrate I don't mean to be a negative, and obviously it means a lot to you, so again I'll congratulate you. But I still fail to see what it means for me, and I say that as a long-term and enthusiastic Ablrate lender. What are these 'rules' that you mention? What were you doing before that you won't be doing now or what weren't you doing before that you will be doing now? It seems to me to be more of a marketing exercise, perhaps you get to use a new logo on your website, maybe a St Edward's Crown or some trendy new design so people think what's that? Is it a flower no it's a fish or is it an aeroplane? Now maybe some people are attracted by that sort of thing, but I'm afraid it doesn't do anything for me. But what I am concerned about, in a purely selfish way of course, is that should there be a large influx of new investors attracted by trendy logos and new authorisations what it will mean to interest rates and ultimately my returns.
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SteveT
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Post by SteveT on Apr 3, 2017 10:22:08 GMT
Duane Dibley, until recently pretty much all P2P platforms were operating under interim approval from the FCA. All platforms must jump through the FCA hoops to secure full approval in order for them to continue operating, which Ablrate have now done successfully. A tangible benefit from lenders' perspective should be that Ablrate management time will no longer need to be spent trying to meet the FCA's moving targets for approval and instead can be spent originating and managing loans!
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arbster
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Post by arbster on Apr 3, 2017 10:27:04 GMT
But what I am concerned about, in a purely selfish way of course, is that should there be a large influx of new investors attracted by trendy logos and new authorisations what it will mean to interest rates and ultimately my returns. In a similarly selfish way, ablrate's full approval gives me confidence that one potential aspect of platform risk has been removed, namely that they were perhaps operating in a way that was unsustainable or unacceptable. FCA approval suggests that experts have got "under the hood" at ablrate in a way that no investor ever could and given it a clean bill of health. It doesn't mean that every loan they put up will be good, and due diligence will still be required, but they're not going to be closed down by the authorities any time soon.
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elliotn
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Post by elliotn on Apr 3, 2017 10:58:56 GMT
But what I am concerned about, in a purely selfish way of course, is that should there be a large influx of new investors attracted by trendy logos and new authorisations what it will mean to interest rates and ultimately my returns. Yep, that will be the IFISA.
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