SteveT
Member of DD Central
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Post by SteveT on Mar 6, 2020 8:26:14 GMT
New 1% cashback offer now live on newly-lent funds. Runs to end of the tax year (5th April) and must remain invested until 6th March 2021. chris , the displayed balance totals in the promo box currently are reversed |
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rscal
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Post by rscal on Mar 6, 2020 10:49:35 GMT
New 1% cashback offer now live on newly-lent funds. Runs to end of the tax year (5th April) and must remain invested until 6th March 2021. chris , the displayed balance totals in the promo box currently are reversed (SSSSH!)
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alanh
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Post by alanh on Mar 7, 2020 11:51:32 GMT
That is very good news. 6.75% on the 90DAA in the current environment looks very attractive.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Mar 7, 2020 12:24:12 GMT
That is very good news. 6.75% on the 90DAA in the current environment looks very attractive. It's compounded monthly,  6.90%.
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Post by gravitykillz on Mar 7, 2020 12:24:40 GMT
Good offer but risky in the current corona/brexit environment. If someone in assetz catches it will the platform temporarily shut down ? I'm sure they would send all employees home to self isolate.
Too many risks....
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alanh
Posts: 556
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Post by alanh on Mar 7, 2020 13:49:38 GMT
That is very good news. 6.75% on the 90DAA in the current environment looks very attractive. It's compounded monthly, 6.90%. Good point!
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iRobot
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Post by iRobot on Mar 7, 2020 13:59:46 GMT
Good offer but risky in the current corona/brexit environment. If someone in assetz catches it will the platform temporarily shut down ? I'm sure they would send all employees home to self isolate. Too many risks.... You raise a good point. I'd hope, as a fintech company, that AC (and other P2P platforms) could continue to operate - even if a tad sub-optimally - without the need to all be in one (or two) place(s) at the same time. Perhaps an opportunity for chris and/or stuartassetzcapital to comment on what AC's plans are should things take a turn for the worse. (Possibly worthy of an email to all clients rather than a just posting here, though.)
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Post by stuartassetzcapital on Mar 7, 2020 14:14:26 GMT
Good offer but risky in the current corona/brexit environment. If someone in assetz catches it will the platform temporarily shut down ? I'm sure they would send all employees home to self isolate. Too many risks.... Not sure this is particularly helpful or realistic so I shall comment as we haven’t already. We have full home-working tech already in place and always have done. We are a FinTech, what would be expected other than that ? Therefore we are less at risk as we would send people home at a moments notice, and have indeed already got those standing instructions in place if anyone, and there is no one today, who was not fully well or suspected as such. Large numbers of our team already work from home. Going home of course does not mean not working unless actually properly ill ! It’s just helping to slow the spread of the virus. We have approaching 120 staff and it’s not quite the same as a one woman/man band. A serious cold or flu breaking out is concerning for our vulnerable friends and family and I would hope that all companies have the same tech in place that we do, or can do so quickly where possible, to allow social isolation for a short while whilst it slows down and we release the vaccine in due course. The problem is not so much the virus but how people react to it and we all have an important personal responsibility in that. I trust that this is taken in the spirit that is intended.
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Post by stuartassetzcapital on Mar 7, 2020 14:15:50 GMT
Good offer but risky in the current corona/brexit environment. If someone in assetz catches it will the platform temporarily shut down ? I'm sure they would send all employees home to self isolate. Too many risks.... You raise a good point. I'd hope, as a fintech company, that AC (and other P2P platforms) could continue to operate - even if a tad sub-optimally - without the need to all be in one (or two) place(s) at the same time. Perhaps an opportunity for chris and/or stuartassetzcapital to comment on what AC's plans are should things take a turn for the worse. (Possibly worthy of an email to all clients rather than a just posting here, though.) And there you go, sorry, we crossed. Sorry if it reads like a lecture but a little perspective is perhaps required !
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cb25
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Post by cb25 on Mar 7, 2020 14:21:14 GMT
You raise a good point. I'd hope, as a fintech company, that AC (and other P2P platforms) could continue to operate - even if a tad sub-optimally - without the need to all be in one (or two) place(s) at the same time. Perhaps an opportunity for chris and/or stuartassetzcapital to comment on what AC's plans are should things take a turn for the worse. (Possibly worthy of an email to all clients rather than a just posting here, though.) And there you go, sorry, we crossed. Sorry if it reads like a lecture but a little perspective is perhaps required ! Probably a bit early in the process of Coronavirus becoming widespread, but have you had any comments from Borrowers that their businesses and ability to make repayments might be affected by the virus, whether it be due to staff self-isolating or customers staying away?
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Post by stuartassetzcapital on Mar 7, 2020 14:26:58 GMT
And there you go, sorry, we crossed. Sorry if it reads like a lecture but a little perspective is perhaps required ! Probably a bit early in the process of Coronavirus becoming widespread, but have you had any comments from Borrowers that their businesses and ability to make repayments might be affected by the virus, whether it be due to staff self-isolating or customers staying away? Nothing has reached me whatsoever so far, no. Remember we don’t lend to the gig-economy/ one-person bands etc. typically at all, we are focussed pretty much entirely on medium to large SMEs. That’s a large average staff head count ! I hope that helps.
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iRobot
Member of DD Central
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Post by iRobot on Mar 7, 2020 14:56:07 GMT
And there you go, sorry, we crossed. Sorry if it reads like a lecture but a little perspective is perhaps required ! Not at all - the response is appreciated. Realise I'm quite possibly preaching to the converted, but scheduling a 'work-from-home' day where all but a very minimal skeleton staff stay away from the office isn't a bad consideration. It can surface issues that are to date unknown at a point in time where they can be remedied before they are needed 'for real'. (Doesn't even need to be a whole day at the first stab; just send everyone home a couple of hours early and ask them to see the day out as remote workers.) One client did this a short while ago and discovered problems ranging from licensing concurrency, to somebody who's new mobile phone didn't have the RSA app installed. The affected users were able to go into the office with little harm done (certainly more gained than lost from a company perspective) and there'll be a repeat exercise scheduled imminently to see if (almost) everyone can actually manage a whole day away from the mother-ship without significant issues. Side benefit was it got non-IT colleagues thinking about the processes they are responsible for and further activity to address potential issues resulted.
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Post by stuartassetzcapital on Mar 7, 2020 15:51:24 GMT
And there you go, sorry, we crossed. Sorry if it reads like a lecture but a little perspective is perhaps required ! Not at all - the response is appreciated. Realise I'm quite possibly preaching to the converted, but scheduling a 'work-from-home' day where all but a very minimal skeleton staff stay away from the office isn't a bad consideration. It can surface issues that are to date unknown at a point in time where they can be remedied before they are needed 'for real'. (Doesn't even need to be a whole day at the first stab; just send everyone home a couple of hours early and ask them to see the day out as remote workers.) One client did this a short while ago and discovered problems ranging from licensing concurrency, to somebody who's new mobile phone didn't have the RSA app installed. The affected users were able to go into the office with little harm done (certainly more gained than lost from a company perspective) and there'll be a repeat exercise scheduled imminently to see if (almost) everyone can actually manage a whole day away from the mother-ship without significant issues. Side benefit was it got non-IT colleagues thinking about the processes they are responsible for and further activity to address potential issues resulted. Indeed, a test day is either done or scheduled any day now from an email I saw a few days ago. I’m not sure when for certain as I’m away at present and was instigated by our Head of Risk. The only thing we found that I recall reading in planning for that was one piece of software was needing a licence update for a few more licences for the princely sum of £750 or so, as you say.
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Post by stevexxx on Mar 7, 2020 16:49:08 GMT
Well, I'm adding funds in anyway so its nice to see I'm going to get an extra 1%. I think p2p will be pretty well unaffected by the virus overall and see no reason not to invest at this time and could be a better choice than other investments right now..
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sl75
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Post by sl75 on Mar 7, 2020 19:33:34 GMT
That is very good news. 6.75% on the 90DAA in the current environment looks very attractive. I wouldn't rely on the 6.75% lasting the year...
90DAA can reduce its rate with 90 days notice, and IMHO is long overdue its first reduction from the "introductory" rate, whilst the cashback offer requires funds to remain invested until this time next year.
My bet is that they'll wait until the surge of money arriving in the new tax year has landed (probably with a similar promotion to "lock it in" for a year) and then announce a reduction...
... but on the other hand I would have made a similar bet last summer and the 90DAA rate reduction never actually happened then.
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6.90%. 
