elliotn
Member of DD Central
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Post by elliotn on Oct 21, 2017 1:31:39 GMT
To be fair Ly say that we can still scroll through the Recent Updates tab. That is effectively the same as the information on an e-mail. There is a risk that updates may become less frequent without a fortnightly deadline (similarly we may get some more timely ie updated when known rather than waiting for the email and some may be less repititious where nothing has happened to be updated). There will also be the risk of missing updates if you are not logged in, MT send accompanying emails for (dreaded) significant updates and have said an email may follow for all updates - an opt-in for such would be welcome at least Lendy Support.
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ianj
Member of DD Central
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Post by ianj on Oct 21, 2017 8:29:55 GMT
Perhaps we may avoid becoming overly concerned over savingstream 's latest act of alienating its lenders could we with a little joint commitment overcome by creating a sticky thread and posting suitably redacted lender specific loan updates to it. We already have one here, created and maintained by our resident pig fancier. Its been well and truly 'stuck' since May '15, so I doubt it will atrophy just because Lendy Support have become squeamish about airing negative news.
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tony
Posts: 136
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Post by tony on Oct 21, 2017 8:35:31 GMT
Why all the fuss and wild assumptions as to how the new email notifications will affect us? Give Paul a chance to launch his new ideas and see how they work. Personally I welcome the idea of being able to quickly see the updates on the loans in which I have invested without having to scroll down the very long list of loans - in fact I have found it easier to go to "My loans" and use the updates tab. In future, if I am not planning to invest further, I can quickly see how my portfolio is performing and, if I am looking for new investment opportunities, I can look at the available loans and use the update tab for any which take my fancy. Having said that, I decided some time ago not to increase my Lendy portfolio until such time that their recovery of overdue loans performance restores my confidence in the platform.
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invester
P2P Blogger
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Post by invester on Oct 21, 2017 9:41:41 GMT
Just the principle about how this has come about.
If you want to do it, don't pretend that people have been emailing in and asking for it, I find that disgusting when the other bit of the email was blabbering on about transparency.
I mean, what next? Nobody will be able to read the comments in the loans they are not invested in. The justification? Because people had been asking for it.
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tombraider
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Post by tombraider on Oct 21, 2017 11:25:49 GMT
Yes agree entirely. It's almost like they want to cull their investor number...
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seeingred
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Post by seeingred on Oct 21, 2017 11:48:51 GMT
To be fair Ly say that we can still scroll through the Recent Updates tab. That is effectively the same as the information on an e-mail. But I agree that Ly have clearly thought that they don't want e-mails going out with lots of bad news. What they miss though is that we are left with the perception that they are worried about where many loans are going and this will damage lender confidence. What they should be doing is managing the loans better. The weekly email would go out to all investors who had requested it (or maybe all lenders by default?) . I found it useful to scroll down to form a view of how things were going both in my own loans and more generally and without the need to go to the platform site regularly , especially during periods when I was not going to buy or sell anything anyway. No chance of selling much these days.........
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Post by loftankerman on Oct 21, 2017 12:05:53 GMT
I'm down to two loans in Lendy now. I'm not particularly worried about them, there's no point, they don't seem extra dodgy and the queues to sell on the SM are long with activity negligible. I don't bother logging into Lendy much and ignore their emails relating to new loans, tranches or repayments I derive no benefit from. It really makes no difference to me what nonsense they get up to as long as they don't invoke a new clause that says they can grab everyone's dosh and run.
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hazellend
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Weekly BS
Oct 21, 2017 12:49:45 GMT
via mobile
Post by hazellend on Oct 21, 2017 12:49:45 GMT
I think a lot of people will be coming back for vmill dfl
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sirius
Member of DD Central
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Post by sirius on Oct 21, 2017 21:21:09 GMT
Without the fortnightly updates it will certainly be far more time consuming, and a considerable inconvenience in future to see how all loans are progressing, (or not as the case may be), which is what I and many others have been doing in the past.
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seeingred
Member of DD Central
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Post by seeingred on Oct 21, 2017 22:31:47 GMT
To be fair, updates on BC are infrequent but the loans are PBL type and with some confidence as to security, in Lendys case we have seen many instances where lenders need frequent updates to feel they are on top of what is happening. Many large defaults, much uncertainty, these both mean we desire and deserve frequent updates, and many of us valued the weekly update on all loans, even if we hadn’t logged on during the week or month.
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SteveT
Member of DD Central
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Weekly BS
Oct 22, 2017 4:48:49 GMT
via mobile
Post by SteveT on Oct 22, 2017 4:48:49 GMT
Without the fortnightly updates it will certainly be far more time consuming, and a considerable inconvenience in future to see how all loans are progressing, (or not as the case may be), which is what I and many others have been doing in the past. Will it? Provided the “Recent Updates” page carries on as now, is it any harder to read down a list of updates there than to read an email?
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p2p2p
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Post by p2p2p on Oct 22, 2017 7:29:04 GMT
I don't like getting the general loan repayment emails, as I have to log into to discover if I have funds returned myself. I'd like a "you have been repaid X" email, never mind the spurious concerns financial companies have about sending any personal number over email.
And I'd like a weekly update email about updates TO MY LOANS ONLY, to cut down the volume I have to read.
The intro puff in the weekly update is rarely worth reading, I'd be happy to stop getting that.
As others clearly have different ideas, Lendy should have an email preferences page:
1) Weekly puff
2) Email me about redemptions to my loans/all loans
3) Fortnightly loan update email for my loans/all loans
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jcb208
Member of DD Central
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Post by jcb208 on Oct 22, 2017 12:10:30 GMT
Repayment emails can be useful especially with a large repayment as it seems to start a buying frenzy which can help if there is any thing you want to offload, but as said may be we should have a choice
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Post by robberbaron on Oct 22, 2017 13:21:42 GMT
So no mention of suspended loans. As usual only talk about good news (i.e. repayments) or irrelevant news.
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Post by Lendy Support on Oct 22, 2017 14:05:28 GMT
Hi all, Based on a lot of feedback we receive, it is very hard for any company to please everyone all the time. We therefore need to base any changes we make on what we believe to be in the best interests of our users, taking into account all views that come in from our 17,500+ platform users and what is best practice elsewhere in the sector, and what is deliverable with our current IT. Lendy’s Weekly Update, which comes out every Friday, was launched in January 2017 as a way to provide more regular company, sector and investment news for our users. It was designed to also include a pipeline update and a full loan book update on alternative weeks. Bar some small changes, the update has remained largely unchanged. While the Update may not satisfy everyone's needs, it does endeavour to cover topical subjects that we feel will be relevant to our platform users. Lendy typically receives hundreds of enquiries each day into its Support Team, with a large number requesting improvements to the platform, including requests for fewer, more tailored email communications, and offering suggestions for improving features to the service. The intended changes to the Weekly Update are aimed at improving the service users receive from Lendy, by reducing the amount of information included in an email, by providing links in that email to the relevant content on the Lendy platform. This is common to most investment platforms. Recent Updates will remain available on the platform. You will however be able to see your individual loans, and to see which ones have received Recent Updates via a new alert feature. These changes are introduced w/c 23/10/17, but we will continue to improve these services based on your feedback. Please be assured our focus is on improving disclosure and transparency, and not on limiting key information to users. We want everyone to have the right information available to them to help them make an informed investment decision. Lendy Support |
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