aju
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Post by aju on Jul 5, 2017 13:42:58 GMT
well they better make sure my name is on the list as I took copies of the error/issue, buts largely masked now by my returns etc.  |
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wapping35
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Post by wapping35 on Jul 6, 2017 18:39:53 GMT
A further update (about an hour ago) from Zopa on the missing money. I raised questions on the time lines and the fact it seemed this issue impacted both my Z+ ISA and non-ISA accounts. Indeed the impact on the non-ISA account seems rather larger, albeit it is difficult to track.
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Good evening XXXX,
Thank you for your email.
I have been with previous correspondence with our Technical team regarding your email.
There are discussions currently being made on how Zopa is looking to rectify the discrepancy. As a result, a timeframe is unknown as of yet. This should be resolved in the earliest convince.
I was made aware that the loan pricing issue has affected both non-ISA investments and ISA investments. As you have stated, this is more apparent for the ISA product due to fresh money on the platform. The answer to your questions is yes, our technical department are looking at both cases ISA and non-ISA investments.
I hope this helps and please let me know if you have any further questions.
Kind regards
XXXX XXXX
Client Services
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Greenwood2
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Post by Greenwood2 on Jul 7, 2017 6:46:07 GMT
I wonder what the FCA would think about Zopa losing lender funds down the back of the sofa?
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ashtondav
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Post by ashtondav on Jul 7, 2017 10:31:00 GMT
Oh you'd be surprised if you saw all the background mess at most banks. With Zopa it's transparent - with them it's not!
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Post by explorep2p on Jul 7, 2017 18:40:24 GMT
The core IT platform of Zopa actually started off as software designed to do something completely different in the shipping industry, so it isn't surprising that there are some occasional problems like this....
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Greenwood2
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Post by Greenwood2 on Jul 7, 2017 20:08:37 GMT
The core IT platform of Zopa actually started off as software designed to do something completely different in the shipping industry, so it isn't surprising that there are some occasional problems like this.... Was that the original platform circa 2005 or a more recent replacement?
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Post by explorep2p on Jul 7, 2017 20:18:30 GMT
I think the back end still has coding that was derived from a system they bought that was designed to sell ships or something similar. Some former Zopa employees have said that the IT is a bit unwieldy as a result..
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mikeb
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Post by mikeb on Jul 9, 2017 19:11:05 GMT
The core IT platform of Zopa actually started off as software designed to do something completely different in the shipping industry, so it isn't surprising that there are some occasional problems like this.... Does not surprise me. I'm Fairly Certain there's another platform out there that borrowed a copy of the Titanic's navigation system as a starting point ...
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aju
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Post by aju on Jul 12, 2017 16:08:20 GMT
I asked aopa about early adopter bonuses for new ISA account and I also asked about the earnings discrepancy in the summary and statements screens. I wanted to make sure that they were aware of my issue. Zopa gave the following useful response. It may be of interest to some people with similar issues.
Regarding Early adopter bonuses - Zopa said ...
"From looking at your account I can see that you have now had funds lent out in both Core and Plus on the ISA side of your account and I can confirm that the early adopter bonus applies to ISAs, which for yourself is an early adopter bonus of 0.5%. Please bear in mind, however, that the bonus pays out based on the amount you have received in repayments that month. As you had only started to create loans towards the end of June, you have yet to receive a repayment and therefore did not benefit from the bonus this month. You will indeed receive this bonus on both of your Zopa accounts (ISA and non-ISA) in future months.
"
and for the discrepancies issues - Zopa said ...
"With regards to your question about differences in the Summary and Statements page, there are two factors which have an effect here.
The first is that there was a technical issue very recently which has led to discrepancies on investors accounts, and as you have noted this issue is more clearly evident on ISA accounts, primarily as there has been a large movement of money across into ISAs and the fact that you have yet to receive repayments. The discrepancies are smaller amounts that have been deducted from investor accounts whilst taking on some new loans, and our tech teams have been able to isolate the cause of the issue; no further discrepancies should occur from this specific issue. Let me assure you we are working to identify the number of users that have been affected, and once we are confident that we have a complete list of investors who are seeing these negative interests on their account balances, the discrepancy will be fully rectified in due course. If you and your partner are one of those investors that has been impacted you can be assured that this will be rectified and we will be in touch in as soon as possible.
The second factor is that there is, as you may already be aware, a slight lag between what is shown on the Summary and Statements page. The reason for this is that the Summary page pulls data from a server in a more immediate way, whereas the Statements page pulls the data from a secondary server which scans every few hours. Consequently the Summary page is the most up to date and ‘live’ figure with the Statements page updated later. This is an intrinsic part of reporting on the platform however it is an area that we are looking to improve in the upcoming months.
I appreciate your concern in these matters and again we are working to address this recent account balance issue."
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