vmail
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Post by vmail on May 3, 2017 19:41:24 GMT
Hi Paul64 Could you change the transaction log system to something similar to below. It would help to understand where and why money has just disappeared. Both credited interest and deducted interest should be listed in the transaction log, and maybe the deduction should be called Interest Correction. Txn Date Transaction type Loan part ID Loan part value Loan part detail Start date End date Txn Amount Balance
30/04/2017 Interest Correction 1149509 60 DFL009 - T... 01/03/2017 01/03/2017 -0.59 1735.81
30/04/2017 Interest 1149509 60 DFL009 - T... 01/03/2017 01/03/2017 0.59 1736.40
Currently, I have to compare the exported transaction logs from the different days to figure out what had happened. Left exported log on 01/05/17, Right exported log 03/05/17.  |
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mosaic
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Post by mosaic on May 3, 2017 19:46:46 GMT
But then there would be auditable accounts!
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Post by Paul64 on May 3, 2017 19:59:00 GMT
Hi, this might not be possible at the current time but I will pass the suggestion to the relevant team. These types of requests should really though come in via the support@lendy.co.uk route so they can logged, monitored and tracked properly. P
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stevio
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Post by stevio on May 3, 2017 20:49:35 GMT
Hi, this might not be possible at the current time but I will pass the suggestion to the relevant team. These types of requests should really though come in via the support@lendy.co.uk route so they can logged, monitored and tracked properly. P Are you aware of the reason why this is being asked for? ie the interest payments have been retrospectively altered AGAIN this month, for at least the second month in a row, leaving your borrowers with a negative balance and to my knowledge, no explanation for the error, or reason why this has been allowed to happen two months in a row
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ozboy
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Post by ozboy on May 3, 2017 20:55:06 GMT
Hi, this might not be possible at the current time but I will pass the suggestion to the relevant team. These types of requests should really though come in via the support@lendy.co.uk route so they can logged, monitored and tracked properly. P tbh and fair, I'm impressed that Paul is still engaging with you lot at 9 pm at night!
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mrflush
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Post by mrflush on May 4, 2017 8:52:55 GMT
Having spent many years working on large Life and Pensions systems where every transaction was timestamped, nothing was deleted and corrections were applied as a reversal and then correct values applied, I'm surprised there isn't a requirement to maintain a similar audit trail here, or is there...?
Edit: should have ready the OP better, I see that's what you're asking for!
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archie
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Post by archie on May 4, 2017 9:03:02 GMT
The problem at the moment is the computer system doesn't have a Correction transaction.
The 'General update' email on 07/04/17 suggested this was being explored, one of the top five improvements being looked at was :-
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stevio
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Post by stevio on May 4, 2017 12:54:26 GMT
Hi, this might not be possible at the current time but I will pass the suggestion to the relevant team. These types of requests should really though come in via the support@lendy.co.uk route so they can logged, monitored and tracked properly. P Are you aware of the reason why this is being asked for? ie the interest payments have been retrospectively altered AGAIN this month, for at least the second month in a row, leaving your borrowers with a negative balance and to my knowledge, no explanation for the error, or reason why this has been allowed to happen two months in a row Can't believe there is no response from Lendy on this!
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vmail
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Post by vmail on May 5, 2017 10:50:55 GMT
For those who don't want to fund their accounts or sell some loans after an interest error, there is a third option that won't result in Lendy coming round to your house sending you emails to demand money.
But by doing this will stop you from buying on the SM.
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will
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Post by will on May 8, 2017 12:04:33 GMT
Hi, this might not be possible at the current time but I will pass the suggestion to the relevant team. Riding into space on a magic carpet isn't possible at the current time. I'm certain this change does not fall into the same category - the issue is whether Lendy considers it high enough priority to action it. I think you'll find that your users consider an auditable transaction log to be a high priority and I'm absolutely astonished that you don't agree!
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twoheads
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Post by twoheads on May 8, 2017 12:41:54 GMT
The suggestion of improving the transaction log in this way is not new.
There was a lot of discussion here after the April 1st interest problems (March interest all paid at 12% on April 1st and then later corrected on April 2nd). And it wasn't a new suggestion then either.
The fact that Lendy adjust historical transactions and insert transactions (for interest) which are back dated is one of the biggest complaints about the Lendy site.
I and others have asked for an inviolable transaction history, where all new entries are appended (never inserted) and correctional transactions can be added and commented with a reference to the original error.
Paul64 stated in early April that they would look into doing this but nothing positive on this has come out of the offices of Lendy yet.
This thread is another request for basically the same thing and seems to have been met with the same response.
I hope that the long requested transaction log improvements will be implemented in the reasonably near future.
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oldgrumpy
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Post by oldgrumpy on May 8, 2017 12:57:31 GMT
"The fact that Lendy adjust historical transactions and insert transactions (for interest) which are back dated is one of the biggest complaints about the Lendy site.
I and others have asked for an inviolable transaction history, where all new entries are appended (never inserted) and correctional transactions can be added and commented with a reference to the original error."
... and is Lendy still expecting to get full authorisation from FCA with this kind of manipulative accounting behaviour? Basic accounting, and Lendy "will look into it".
Balloons*.
* spelling error, sorry.
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vmail
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Post by vmail on May 8, 2017 13:18:07 GMT
 It's good to see an interest error correction especially if it's money coming in.
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oldgrumpy
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Post by oldgrumpy on May 8, 2017 13:30:48 GMT
It's good to see an interest error correction especially if it's money coming in. Well that's perfectly acceptable. Are they not doing that all the time yet?
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Post by Paul64 on May 8, 2017 14:23:56 GMT
Hi, as an update on the request, I can confirm that we will be adding Inviolable Transaction History to the IT route map, which should be live within the month. As I have said before, we are a small but growing business and have limited resource, with many competing priorities. Our IT routemap covers every aspect of our operation and not just service. I can appreciate the importance of this request however and will prioritise as far as possible.
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