Mr_N
Posts: 222
Likes: 225
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Post by Mr_N on Nov 16, 2018 16:52:29 GMT
Service existing lenders, rather than attempting to attract more for different offerings. The role of an IT department is to understand, service and develop the functions of the business. They have to meet the corporate requirements handed down to them. That's what they exist for. It is a technical role and probably not one that has attracted people who would be comfortable oiling up to irritated customers or being immersed in the pursuit of more business or errant borrowers. So expecting them to be doing something other than their chosen area of interest and expertise would probably be self defeating on many levels. What next, are we going to imply criticism of Lendy's use of their janitorial staff? Small companies don't have an IT department. They pay external developers, tens of thousands, on an ad hock basis. whilst also paying their hosting company many thousands too in order to keep up-time within service agreement levels and rapidly debug should any problems arise. They don't host anything on site, they will pay external IT companies and data centres for either shared or dedicated servers. Whenever you see changes made to their site, just remember that someone has taken a financial decision to do so, and divert money away from their recovery efforts. I would much rather those thousands of pounds be retained, as every penny will count when what's left of Lendy is spread between creditors. It will only get worse with large institutional investors ploughing money in, us retail investors will be so far to the bottom of the pile that we might as well be non existent. You don't unblock a sewer by pouring more s*** down it. What makes you think these cowboys will be able to manage significantly larger sums of money any more effectively than they have ours? I find their business expansion plans to be insulting while so many of us are owed millions of pounds, and Lendy are liquidating their assets as Director loans, leaving even less assets available to administrators.
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izigor
Member of DD Central
Posts: 162 
Likes: 86
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Post by izigor on Nov 17, 2018 21:26:17 GMT
The role of an IT department is to understand, service and develop the functions of the business. They have to meet the corporate requirements handed down to them. That's what they exist for. It is a technical role and probably not one that has attracted people who would be comfortable oiling up to irritated customers or being immersed in the pursuit of more business or errant borrowers. So expecting them to be doing something other than their chosen area of interest and expertise would probably be self defeating on many levels. What next, are we going to imply criticism of Lendy's use of their janitorial staff? Small companies don't have an IT department. They pay external developers, tens of thousands, on an ad hock basis. whilst also paying their hosting company many thousands too in order to keep up-time within service agreement levels and rapidly debug should any problems arise. They don't host anything on site, they will pay external IT companies and data centres for either shared or dedicated servers. Whenever you see changes made to their site, just remember that someone has taken a financial decision to do so, and divert money away from their recovery efforts. I would much rather those thousands of pounds be retained, as every penny will count when what's left of Lendy is spread between creditors. It will only get worse with large institutional investors ploughing money in, us retail investors will be so far to the bottom of the pile that we might as well be non existent. You don't unblock a sewer by pouring more s*** down it. What makes you think these cowboys will be able to manage significantly larger sums of money any more effectively than they have ours? I find their business expansion plans to be insulting while so many of us are owed millions of pounds, and Lendy are liquidating their assets as Director loans, leaving even less assets available to administrators. Well if I understand correctly, the loans are ring fenced. If Lendy ever go to administration a third party will administrate the loan book for continued business or recoveries [sure they'll take a fee] Remember we are not shareholders of the Lendy business and neither are we creditors to the Lendy business either.
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Post by GSV3MIaC on Nov 18, 2018 9:16:02 GMT
/mod hat off
Afaics Ly's revised website is just part of the strategy to wriggle the business away from self select loans to a pooled version, ala Finally Crackedit. This makes it much easier to decide what gets funded, and to keep income rolling in.
Whether it'll work, or is too little too late, has yet to be determined.
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Post by charliebrown on Nov 18, 2018 12:05:49 GMT
/mod hat off
Afaics Ly's revised website is just part of the strategy to wriggle the business away from self select loans to a pooled version, ala Finally Crackedit. This makes it much easier to decide what gets funded, and to keep income rolling in.
Whether it'll work, or is too little too late, gas yet to be determined.
I thinks is only going to work with an entirely new bunch of lenders and some who haven’t researched LY’s past performance. Suspended loans like DFL19 are hidden from the view of the casual website browser, but defaults and capital lost are in plain sight and would be hard to ignore should you be pondering whether to invest. I do want LY to survive but I’m not sure they can recover from the bad publicity and dismal results. All lenders really look for is a good ROI and decent customer experience, LY has delivered neither.
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Post by loftankerman on Nov 18, 2018 14:16:51 GMT
The directors of Lendy have an ongoing obligation to work for the success of the company regardless of its past. They appear to me to be attempting to discharge this responsibility by, on the one hand making some attempt to address the issues of the past and avoiding future similar new business. On the other hand they appear to be attempting to create a new business model with more moderate and realistic expectations for lenders. Success and profitability in that area might help meet their obligations in the former. Lendy simply giving up on survival and just going down hoping to get something back from borrowers serves no one any good, even if it makes indignant lenders who’ve over invested feel they’re working in their best interests.
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Mr_N
Posts: 222
Likes: 225
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Post by Mr_N on Nov 19, 2018 14:55:50 GMT
Small companies don't have an IT department. They pay external developers, tens of thousands, on an ad hock basis. whilst also paying their hosting company many thousands too in order to keep up-time within service agreement levels and rapidly debug should any problems arise. They don't host anything on site, they will pay external IT companies and data centres for either shared or dedicated servers. Whenever you see changes made to their site, just remember that someone has taken a financial decision to do so, and divert money away from their recovery efforts. I would much rather those thousands of pounds be retained, as every penny will count when what's left of Lendy is spread between creditors. It will only get worse with large institutional investors ploughing money in, us retail investors will be so far to the bottom of the pile that we might as well be non existent. You don't unblock a sewer by pouring more s*** down it. What makes you think these cowboys will be able to manage significantly larger sums of money any more effectively than they have ours? I find their business expansion plans to be insulting while so many of us are owed millions of pounds, and Lendy are liquidating their assets as Director loans, leaving even less assets available to administrators. Well if I understand correctly, the loans are ring fenced. If Lendy ever go to administration a third party will administrate the loan book for continued business or recoveries [sure they'll take a fee] Remember we are not shareholders of the Lendy business and neither are we creditors to the Lendy business either. We'll see...
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