blender
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Post by blender on Jul 19, 2018 7:56:57 GMT
Squib? All squid are damp, or dead.
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ianj
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Post by ianj on Jul 19, 2018 8:25:11 GMT
Might be something totally unrelated but an attempt to deposit cash via debit card (about 20:30, in the middle of of all the reported problems making investments), to my partner's account appeared to go through ok but Funds Available was not updated. As far as the Bank is concerned, there is a pending transaction showing (to http://WWW.ABLRATE.COM) for the deposit, but 3.5 hrs later, the cash has not been credited to her account. Same thing happened to me, I'll give it a day or two. Check if you have an email confirmation of the missing payment (although clearly you won't have the separate email for the corresponding deposit) I have two payment confirmations but one deposit notification - easy enough to prove the situation The email notification was lurking in with Spam. Still not credited this morning, so too damn late now!
Details emailed to customer services.
EDIT: Cash credited manually. Now withdrawn!
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Post by supernumerary on Jul 19, 2018 9:42:00 GMT
PERSISTENCE... Those who stayed the course yesterday evening, would appear to have got their money invested! Luckily I got my investment loaded at around the 8:15pm to 8:20pm BST. It was still day light then... I turned the computer off just after 9pm and read a book in bed, until lights out at 10:30pm. BTW, the book was called, 'Stopped at Stalingrad: Luftwaffe and Hitler's Defeat in the East, 1942-43 (Modern War Studies) Hardcover – 30 Apr 1998' Reading through these posts, it is obvious that some of you stayed the course and got your money invested when it was dark, some when it was gone midnight! Well done to all of you. Looking forward to the next loan already, where we can all 'systems test' the upgrade to Ablrates' software. Eventually, Ablrate will get the system completely robust and we will have all helped in that development. Let us ALL hope that the next loans coming to the Ablrate platform are not going to be delayed.
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rick24
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Post by rick24 on Jul 19, 2018 9:49:21 GMT
I was initially attracted by the revenue figures but was put off by the as-yet-unpublished patent application as security. If it's rejected, then I assume it's worth nothing, so I wasn't falling over myself to participate on that basis....very impressive fund-raise though.
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mickj
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Post by mickj on Jul 19, 2018 10:16:13 GMT
The car crash and timeouts after 8.30pm for me last night, by the time I logged in this morning all gone, expect it would have filled last night if the system would have allowed, perhaps a lower limit?
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Post by ablrate on Jul 19, 2018 10:24:04 GMT
Hi all
Just to round up:
Firstly, apologies again for the issues:
System What happened: Concurrent trading code, designed to protect trades in the secondary market has been too aggressively applied to the primary market. A fix applied and tested did not work under load.
What we have done: Last night we worked with the developers and have removed the code for the first 90% of the loan and applied it to the last 10% to stop overfunding. We will be aggressively testing this fix.
Payment Gateway What happened: The majority of debit card payments were successful but in some cases debit card payments were not credited to the lenders' Ablrate. This is because our third party payment gateway's system only made 1 'call' on these transaction to our system. This triggered the email saying it had been deposited, but the call to credit funds automatically to the lenders Ablrate account was attempted once and then abandoned if it was not successful. Their system should keep trying for 24 hours so that our system can credit funds, but it didn't.
What we have done: We have contacted the gateway provider and are reviewing the logs to give them chapter and verse on where their system failed in these cases and are looking at ways where our system may be able to d something that recognises their failure and prompts another call.
Loan:
What happened: Wow - £1 million in less than 11 hours. 464 lenders. Evening launches are going to be changed. With slim tech support and no customer service its not a great idea. Even though we did it to accommodate lenders request.
What we are doing: There are two things
1. We are testing Auto-trader in the coming weeks. If all this works as planned that will be a solution for us to deploy and will smooth out bidding. 2. At this stage we will be moving loan launches to during the day in order to have tech and customer services ready to deal with issues.
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macq
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Post by macq on Jul 19, 2018 10:26:41 GMT
or maybe £1 - 100 @ 8 - 9 pm £101 - 1000 @ 9 - 10 pm £1001 - 5000 @ 10 - 11 pm etc
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blender
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Post by blender on Jul 19, 2018 10:45:32 GMT
I thought the 'devs' were locked in a cupboard overnight.
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Post by flobberchops on Jul 19, 2018 10:47:53 GMT
Darn it, I missed out. Some bizarre error message appeared when I tried buying anything yesterday. Oh well, I'll be looking out for the next loan.
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des
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Post by des on Jul 19, 2018 10:59:23 GMT
What happened: Evening launches are going to be changed. With slim tech support and no customer service its not a great idea. Even though we did it to accommodate lenders request.What we are doing: ablrate How about: 3. Not make changes that are only requested by a minority of users.
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blender
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Post by blender on Jul 19, 2018 11:08:04 GMT
Darn it, I missed out. Some bizarre error message appeared when I tried buying anything yesterday. Oh well, I'll be looking out for the next loan. Flushed by the success of lending £1M to this borrower through a failed interface in half a day - with much more available; I think we may be approached by the New South Sea Company. No bid limits, no funding ceiling. Everyone will be happy, except the fish.
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Post by supernumerary on Jul 19, 2018 11:08:06 GMT
What we are doing: There are two things 1. We are testing Auto-trader in the coming weeks. If all this works as planned that will be a solution for us to deploy and will smooth out bidding. 2. At this stage we will be moving loan launches to during the day in order to have tech and customer services ready to deal with issues. I can only speak for myself, I do hope that you continue as normal, your planned new loans 'roll out'. Undoubtedly you will have learnt a lot from yesterday evening and have begun to take measures to improve the situation, as you have outlined. However, all systems testing can't match the real 'live' event, so I am looking forward to a new loan launch as soon as possible, with the 'fixes' now deployed. IMHO, most investors will be understanding and those who unfortunately could not invest this time, will be eager to try again with a new loan.
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Post by Badly Drawn Stickman on Jul 19, 2018 11:24:40 GMT
or maybe £1 - 100 @ 8 - 9 pm £101 - 1000 @ 9 - 10 pm £1001 - 5000 @ 10 - 11 pm etc With a bit of tinkering, might work. The average bid was a little over £2155, sounds like there were quite a few who wanted some and were disappointed. Maybe a 3 stage process is worth considering. Loan proposition posted Loan pledge option after 4 hours Proportional allocation to each bidder Transfer and payment of funds after further 4 hours Ok that's 4 steps, and would not work for every loan, but innovation is what is needed. I still think it is a poor loan, but did buy a modest amount with funds already on the platform when I saw the mad rush. Went through first time. Maybe good things do happen to good people after-all.
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eeyore
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Post by eeyore on Jul 19, 2018 13:41:49 GMT
or maybe £1 - 100 @ 8 - 9 pm £101 - 1000 @ 9 - 10 pm £1001 - 5000 @ 10 - 11 pm etc I, too, was thinking on the same lines as I sat there trying to get the system to accept an investment of a few hundred (ultimately successful after about 17 minutes). But would this help the current situation? All we'd get is: *everyone* tries to invest £100 (or less) in the first hour; then everyone (except those whose limit was £100) for the next hour, then everyone (except those whose limit was £1000 or less) for the next hour, then everyone (except those whose limit was £5000 or less) for the next hour, etc, etc. The total number of investment transactions processed by the system would be much greater. The solution would be to "reserve" bidding in the first hour to those with a £100 limit and then limiting those who invested in that first hour to a total investment of £100 (until all bid limits are removed); anyone who wants to bid more that £100 but less than £1,000 could bid in the second hour and be limited to a total of £1,000, and so on. In effect, we'd have to decide what our bid limit was and not bid until the bid-band becomes available. Would that be practical? I can envisage the issue of a loan being filled before bids in a higher band became available - intense frustration! (and leading inevitably to individuals opening multiple accounts to bid in each band). And wouldn't Ablrate prefer to fill loans with a smaller number of larger bids than large numbers of small accounts?
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withnell
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Post by withnell on Jul 19, 2018 14:00:50 GMT
or maybe £1 - 100 @ 8 - 9 pm £101 - 1000 @ 9 - 10 pm £1001 - 5000 @ 10 - 11 pm etc i'm unclear why this is needed - I bought several thousand at about 6am, which is 10 hours after launch. I also got some the night before - yes you get a few fails but you just try again later. If the issue was the loan went in minutes then I understand tighter bid limits, but on this occasion there was no issue with the 10k
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