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Post by Duane Dibley on Apr 3, 2017 11:43:35 GMT
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. You mean like Northern Rock or Bradford & Bingley.
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Post by GSV3MIaC on Apr 3, 2017 11:51:08 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! Hmm, I wish I believed that the platforms were not going to have to continue to chase ever-evolving moving targets .. (well unless I approve of the moved goalposts of course!). I suspect FCA approval is going to be a bit like dieting .. you can never actually afford to stop.
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elliotn
Member of DD Central
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Post by elliotn on Apr 28, 2017 15:14:17 GMT
Great to hear the ifisa is on its way, look forward to seeing the criteria. Should help speed up loan completions and clear any remaining SM discounts on stubborn loan sales
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