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Post by Butch Cassidy on Feb 23, 2018 10:40:10 GMT
nsiam could you introduce an interest sweep function, preferable NOT called withdrawal to avoid previous confusions, so that small interest payments could automatically be gathered from multiple lending threads into the holding account either for withdrawal (for those looking to generate an income) or redeployment. Would it also be possible to add these swept funds or any new funds to specific existing lending pots rather than starting new ones?
Could a sell/reject/discard button be added to each individual loan &/or borrower so they could be manually rejected back to the borrower pool (as opposed to just the withdrawal option that sells every loan in that pot)? This would enable lenders to develop specific lending strategies; such as only lending to borrowers over a certain age, gender, excluding borrowers from certain parts of the country or in a specific employment status.
I would like to see a founder member loyalty scheme (for obvious reasons ) that rewards those brave lenders who have helped the platform develop, perhaps an ongoing rate bonus boost or a periodic cash bonus incentive based on cumulative lending?
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Post by nsiam on Feb 23, 2018 12:52:38 GMT
nsiam could you introduce an interest sweep function, preferable NOT called withdrawal to avoid previous confusions, so that small interest payments could automatically be gathered from multiple lending threads into the holding account either for withdrawal (for those looking to generate an income) or redeployment. Would it also be possible to add these swept funds or any new funds to specific existing lending pots rather than starting new ones?
Could a sell/reject/discard button be added to each individual loan &/or borrower so they could be manually rejected back to the borrower pool (as opposed to just the withdrawal option that sells every loan in that pot)? This would enable lenders to develop specific lending strategies; such as only lending to borrowers over a certain age, gender, excluding borrowers from certain parts of the country or in a specific employment status.
I would like to see a founder member loyalty scheme (for obvious reasons ) that rewards those brave lenders who have helped the platform develop, perhaps an ongoing rate bonus boost or a periodic cash bonus incentive based on cumulative lending? Hi Butch Cassidy, Thank you for the suggestions. Always welcome and appreciated. As you may have noticed already, we have started implementing our user feedback and comments. On the above, I can respond as follow; 1. Interest Sweep: Good idea, we will look into it. 2. Sell off auto-matched loans before they are complete: We already have this idea in the pipeline and will look to implement it very soon 3. Loyalty Scheme: We have started to work on the structure for the Loyalty & referral Schemes. We will be making some announcements soon. 4. Brave lenders: We will soon be sending invites to come and visit us at a very special event. Keep an eye out for an email from Welendus soon.
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Post by Ace on Aug 16, 2018 14:49:11 GMT
Hi nsiam, I was a little surprised today to see that I had been allocated two chunks of the same loan; one each in two different investments. I'm not exactly complaining as I now realise that this is within your terms and conditions. But, with terms like auto-diversification being banded around it was a tad unexpected! Is there any chance that, as your investor base grows, you would consider improving your diversification algorithm to ensure that each investor was only allocated a maximum of one chunk of each loan? Probably not much chance of this, but if you don't ask... As a further improvement, would you consider ensuring that each investor was only invested in one chunk from each borrower? I.e. Where a borrower had taken out multiple loans each investor would only be exposed to one of those live loans.
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Ukmikk
Member of DD Central
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Post by Ukmikk on Aug 17, 2018 8:26:33 GMT
I too have found that I have been allocated more than one chunk in the same loan, which is not what I expected from a diversification perspective. However while the PF is functioning I guess it is not an issue. Without PF cover then it would become a problem.
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Post by nsiam on Aug 18, 2018 13:30:48 GMT
Hi nsiam , I was a little surprised today to see that I had been allocated two chunks of the same loan; one each in two different investments. I'm not exactly complaining as I now realise that this is within your terms and conditions. But, with terms like auto-diversification being banded around it was a tad unexpected! Is there any chance that, as your investor base grows, you would consider improving your diversification algorithm to ensure that each investor was only allocated a maximum of one chunk of each loan? Probably not much chance of this, but if you don't ask... As a further improvement, would you consider ensuring that each investor was only invested in one chunk from each borrower? I.e. Where a borrower had taken out multiple loans each investor would only be exposed to one of those live loans. Hi Ace, AutoDiversify work on an investment level not a user level. With this being said, having the diversification applied on an investment level, it is effectively applied at the user level. Say for example and investor has 2 x £1,000 investments with AutoDiversify set at 10%. This will mean they will be able to contribute £100 from investment 1 and £100 from investment 2. So in total the investor contributed £200 for the given loan with a total portfolio of £2,000. So the 10% still applies. With the above in mind, we will look into enhancing AutoDiversify to potentially cap the investment per loan. To answer the second part of your question, borrowers are allowed only one live loan through Welendus at any given time. So this should not be an issue. Best, Nadeem
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Post by Proptechfish on Aug 18, 2018 14:02:19 GMT
I've come up against a possible sticking point. I made a deposit a couple of days ago and like a fool i accidentally set it up as new fund (on my phone) by the time i got a computer to sort it out the deposit had been lent out. So i put in a withdrawal request to un-assign the deposit so i could re-deploy in to my existing fund, effectively consolidating two identical funds. The estimate it kicked out for this to happen was December 2020, erm what ? As a result i have canceled the withdrawal order for now. If i was being optimistic i would be inclined to believe that this estimate is a quirk of the algorithm kicking out a way over cautious estimate. Given that WLU loans are for a max of 3 months, there is is a rapidly growing new investor base ie. new money, the maths just doesn't add up. nsiam can you confirm this ? Update : The withdrawal took 2 working days
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Post by nsiam on Aug 18, 2018 14:26:23 GMT
I've come up against a possible sticking point. I made a deposit a couple of days ago and like a fool i accidentally set it up as new fund (on my phone) by the time i got a computer to sort it out the deposit had been lent out. So i put in a withdrawal request to un-assign the deposit so i could re-deploy in to my existing fund, effectively consolidating two identical funds. The estimate it kicked out for this to happen was December 2020, erm what ? As a result i have canceled the withdrawal order for now. If i was being optimistic i would be inclined to believe that this estimate is a quirk of the algorithm kicking out a way over cautious estimate. Given that WLU loans are for a max of 3 months, there is is a rapidly growing new investor base ie. new money, the maths just doesn't add up. nsiam can you confirm this ? Hi Proptechfish, Yes, the estimate is designed to be very conservative. But the date you have is very far. We will need to check in details. Can you please email the details to hello@welendus.com? Regardless of the estimated date, withdrawals are usually processed much quicker. Best, Nadeem
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Post by Ace on Sept 7, 2018 15:08:51 GMT
Hi nsiam, My Welendus experience is going well so far, and I'm glad to hear that you are now offering an IFISA account; which I have opened today. An improvement that I would very much like to see on your website, possibly on the statistics page, is the current length of the lending queue at each of the possible lending rates. Without this, selecting a rate to lend at is simply a blind suck-it-and-see experience. For example, if there is currently a large amount of capital waiting to be lent at 15%, the only way to discover this is to try to lend at that rate and wait and see how long it takes. If nothing gets lent out for several days/weeks, one is still blind as to how far to lower ones rates to get things moving. I accept that this has not been much of a problem so far, but I fear that the volume of funds available will rise considerably now that you have introduced an ISA. This could them become a major frustration on your platform. Also, on a less important note, , I feel that the 'My Analytics' and 'Manage Investments' pages could be merged to good effect. Regards Ace
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Sept 7, 2018 15:36:49 GMT
Hi nsiam , My Welendus experience is going well so far, and I'm glad to hear that you are now offering an IFISA account; which I have opened today. An improvement that I would very much like to see on your website, possibly on the statistics page, is the current length of the lending queue at each of the possible lending rates. Without this, selecting a rate to lend at is simply a blind suck-it-and-see experience. For example, if there is currently a large amount of capital waiting to be lent at 15%, the only way to discover this is to try to lend at that rate and wait and see how long it takes. If nothing gets lent out for several days/weeks, one is still blind as to how far to lower ones rates to get things moving. I accept that this has not been much of a problem so far, but I fear that the volume of funds available will rise considerably now that you have introduced an ISA. This could them become a major frustration on your platform. Also, on a less important note, , I feel that the 'My Analytics' and 'Manage Investments' pages could be merged to good effect. Regards Ace I agree with ACE you are doing well. I also agree your sucess will attract more capital. Your policy of one loan one per borrower is excellent as many platforms give out loans like sweets. I hope you will do well and not let success drive you to drink ,drugs and ruin.
My mistake this is not the music business. Your make up as self confessed Geeks and Tech nerds have a much more pragmatic approach that should serve us well. Keep up the good work.
Sheldon Rules OK !!!!
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 7, 2018 15:46:27 GMT
Ace. Just checking you are aware that you can set a rate range to lend at ie. 12-15% on each offer.
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Post by Ace on Sept 7, 2018 17:04:42 GMT
Ace . Just checking you are aware that you can set a rate range to lend at ie. 12-15% on each offer. Yes thanks, I do set ranges for each investment, but it's still a matter of trial and error to guess what range will be effective. I would like to see the lending queue for each rate so that I'm better informed as to which rates to try.
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Post by Proptechfish on Sept 7, 2018 17:24:11 GMT
Has everyone received their PF payment for August ? I haven't, although there is a transaction showing on the event history for today, but it's not been credited to the account, in either 'investment queue' or 'un-assigned'.
I have emailed, but they have not been great in responding to previous emails.
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Post by df on Sept 7, 2018 17:30:01 GMT
Ace . Just checking you are aware that you can set a rate range to lend at ie. 12-15% on each offer. Yes thanks, I do set ranges for each investment, but it's still a matter of trial and error to guess what range will be effective. I would like to see the lending queue for each rate so that I'm better informed as to which rates to try. I was experimenting with rate ranges since the function became available. Currently lending is very fast, so I keep all investments at 12-15% (7-days PF). When lending was slow I lowered the bottom rate.
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Post by df on Sept 7, 2018 17:32:33 GMT
Has everyone received their PF payment for August ? I haven't, although there is a transaction showing on the event history for today, but it's not been credited to the account, in either 'investment queue' or 'un-assigned'. I have emailed, but they have not been great in responding to previous emails. Yes, I have received PF bonus for August today.
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Post by Proptechfish on Sept 7, 2018 17:35:47 GMT
Has everyone received their PF payment for August ? I haven't, although there is a transaction showing on the event history for today, but it's not been credited to the account, in either 'investment queue' or 'un-assigned'. I have emailed, but they have not been great in responding to previous emails. Yes, I have received PF bonus for August today. Humm ok thanks, hopefully i'm just in a queue for payment processing then....
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