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Post by dualinvestor on May 10, 2017 7:18:27 GMT
Does this pressage bad news on bad debt?
Since Monday the latest statement available is, for me, April. My loan book plus uninvested cash is about 0.5% less than my amount "invested," per the summary page, my number of loans differ by about 1% on the loans page to the summary page.
Extrapolated to the whole loan book these diferences amount to millions. If such anomolies happenned at any other financial institution one would expect drastic and immediate action by a regulator. Maybe it is just my accoun but it would be nice to know what is happenning.
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marie
Posts: 38 
Likes: 15
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Post by marie on May 10, 2017 7:38:11 GMT
I wouldn't expect the loanbook report to query their production database, that's probably being pulled off a data warehouse where the data is always slightly behind live, probably only updated with the latest live data about once a day.
The "invested" number and the uninvested cash amount appears to be updating pretty much real time, sometimes you can see the money moving in the queue by refreshing the page during the day (I have a very boring job obviously).
If my assumptions are correct, the result would be that your loanbook does not always match with the numbers you see on the website, and this is normal.
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Post by Deleted on May 10, 2017 7:44:35 GMT
My May statement seems to have vanished as well
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Post by davee39 on May 10, 2017 7:47:01 GMT
There is certainly a statement problem, my May statement has also been withdrawn. My zopa total is not out of line.
Zopa balances are always iffy during a payment run. The repayments are deducted from outstanding loans and enter an invisible space until the run completes at which point they re-appear in the holding account. Finally the holding account is re-invested into the selected product queue. Currently I have funds in holding so the payment run is not complete.
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Post by dualinvestor on May 10, 2017 7:47:06 GMT
I wouldn't expect the loanbook report to query their production database, that's probably being pulled off a data warehouse where the data is always slightly behind live, probably only updated with the latest live data about once a day. The "invested" number and the uninvested cash amount appears to be updating pretty much real time, sometimes you can see the money moving in the queue by refreshing the page during the day (I have a very boring job obviously). If my assumptions are correct, the result would be that your loanbook does not always match with the numbers you see on the website, and this is normal. All of the points are true but the scale of the diference, the type of diference (i.e. the loan book nearly always exceeds the amount invested not the other way around as now) and the disappearance of the current month's statement do not give me any comfort. If the databases of any bank failed to reconcile to each other in real time the matter would be of significant concern, and even the smallest retail bank has many more customers than Zopa, it is simply not good enough for a company handling hundreds of millions of pounds of other peoples money without any form of Government backed coompensation scheme to have systems this deficient.
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Post by jevans4949 on May 10, 2017 8:11:55 GMT
May statement can be found under "current month to date", near the bottom of the statement menu.
I think I saw somewhere that the online loan book display excludes loans in the bad debt area, although these are probably available in the download, or the "all time loan book".
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Post by dualinvestor on May 10, 2017 8:23:10 GMT
May statement can be found under "current month to date", near the bottom of the statement menu. I think I saw somewhere that the online loan book display excludes loans in the bad debt area, although these are probably available in the download, or the "all time loan book". Thank you
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Greenwood2
Member of DD Central
Posts: 4,241
Likes: 2,686
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Post by Greenwood2 on May 10, 2017 10:13:33 GMT
The statement used to default to 'current month to date', it now seems to be the last completed month, we'll find out at the end of the month.
The loan book display does show arrangements, collections and defaults, doesn't show closed loans.
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Post by dualinvestor on May 10, 2017 10:30:03 GMT
Reply from Zopa customer services (minus the opening and closing pleasantries)
We have recently changed the way in which our customers are able to view their most current up-to-date statement. As we currently haven’t finished the month of May, we felt it wasn't best for us to publish the May statement towards the top of the page. As a result, the menu will now produce the most current full month, which in this case will be April 2017.
I can confirm to you that, you are still able to view your current non-completed month statement on your statement page i.e. your May 2017 statement. In order to do this, you need to follow the following steps:
In "My investment" go to the "Statements" tab.
Next to "Showing" select the blue arrow in order to produce the drop down menu.
Scroll down to "Current month to date".
This will now produce your most current up to date statement for May 2017. I apologies if this may have caused you some confusion. Upon reviewing customer feedback, we are looking to change this soon, to make this easier for customers to navigate on our page.
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Post by ogwellian on May 10, 2017 21:40:16 GMT
It's now scroll up to current month to date!!
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