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Post by Badly Drawn Stickman on Oct 18, 2020 12:20:06 GMT
Apologies for the Gender specific heading, but I would hate to mess with a Star Trek quotes.
Its existence raises a few questions going forward, and I didn't want to dilute the useful points being made on another thread about the mechanics of the 'Lending platform'
I realised that I had questions of a more general nature generated by other comments. None of them are particularly urgent and I am sure Ablrate is busy, I am sure he has bank transfers to oversee if only so money could be returned for the new loan (unless its what I suspect it is)
I suspect this point is relatively mute based on previous comments but.....
Ring fencing of funds, it would be useful if this could be clarified and reconfirmed.
Terms and conditions, presumably we are currently just operating on the same as previously there being no real change or box to tick, but going forward if other platforms join it would be nice to have a sample of if/what is likely to be changed to safely embrace this.
Obviously then the question is how close are we to seeing its expansion (logically at least 1 platform is close)?
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Post by ablrate on Oct 18, 2020 14:06:54 GMT
Apologies for the Gender specific heading, but I would hate to mess with a Star Trek quotes. Its existence raises a few questions going forward, and I didn't want to dilute the useful points being made on another thread about the mechanics of the 'Lending platform' I realised that I had questions of a more general nature generated by other comments. None of them are particularly urgent and I am sure Ablrate is busy, I am sure he has bank transfers to oversee if only so money could be returned for the new loan (unless its what I suspect it is) I suspect this point is relatively mute based on previous comments but..... Ring fencing of funds, it would be useful if this could be clarified and reconfirmed. Terms and conditions, presumably we are currently just operating on the same as previously there being no real change or box to tick, but going forward if other platforms join it would be nice to have a sample of if/what is likely to be changed to safely embrace this. Obviously then the question is how close are we to seeing its expansion (logically at least 1 platform is close)? The funds don't go anywhere. Still in a segregated account subject to FCA approved acknowledgement letter signed by the bank (confirming the funds do not form part of our assets and are client funds). The is is exactly the same operationally as the IFISA where Goji are the 3rd party technology. Terms and conditions are the same although they are being amended to clarify the operation of the Loan Exchange. The regulatory side of joiing other platforms is a well trodden path where aggregators have tried to join platforms together but on a top down basis rather than a mutual sharing of liquidity. This is still to be finalised in the meantime platforms will be able to use ASMX as a stand alone solution for the Loan Exchange. A number of platforms have expressed interest, we wanted to get it launched, iron out some of the issue, get some feedback and then go for it. ASMX are assembling a very good team, announcemnets of which will be made soon to assist in the rollout
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Post by supernumerary on Oct 18, 2020 14:12:16 GMT
Obviously then the question is how close are we to seeing its expansion (logically at least 1 platform is close)? Expansion? Observing the 'ongoing situation', reading some concerned lenders comments, evaluating the response, more like destruction... 
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Post by ablrate on Oct 18, 2020 14:52:23 GMT
Obviously then the question is how close are we to seeing its expansion (logically at least 1 platform is close)? Expansion? Observing the 'ongoing situation', reading some concerned lenders comments, evaluating the response, more like destruction... Thanks for your feedback... £60,000 has trade across 1,313 trades with 1 error that was fixed immediately. I am not sure what you mean about an 'ongoing situation' but everything is going incredibly well. Most of the feedback here is a tweak in functionality which we are working on and will be rolling out soon. I apprecite the the negative view point of P2P is the norm these days and that is fine but slating the technology on a public forum 3 days after launch is a bit harsh.
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Post by Badly Drawn Stickman on Oct 18, 2020 17:01:37 GMT
Expansion? Observing the 'ongoing situation', reading some concerned lenders comments, evaluating the response, more like destruction... Thanks for your feedback... £60,000 has trade across 1,313 trades with 1 error that was fixed immediately. I am not sure what you mean about an 'ongoing situation' but everything is going incredibly well. Most of the feedback here is a tweak in functionality which we are working on and will be rolling out soon. I apprecite the the negative view point of P2P is the norm these days and that is fine but slating the technology on a public forum 3 days after launch is a bit harsh. I have never totally believed the saying about bad publicity being better than none, but I suspect they will be queuing round the block to register next week and I anticipate being rewarded in some way (I would just out of curiosity at what could cause such angst). I would think a week from now the old one will be remembered as a rather dull workaday affair which is actually what it was. In fact I am annoyed we had to tolerate it for so long.
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Post by supernumerary on Oct 18, 2020 18:02:31 GMT
Thanks for your feedback... £60,000 has trade across 1,313 trades with 1 error that was fixed immediately. I am not sure what you mean about an 'ongoing situation' but everything is going incredibly well. Most of the feedback here is a tweak in functionality which we are working on and will be rolling out soon. I apprecite the the negative view point of P2P is the norm these days and that is fine but slating the technology on a public forum 3 days after launch is a bit harsh. IMHO, you are putting the future of your business and platform at risk with this TWO year project, that has faced critical observations from a number of different users, since the delayed launch... I’m sure it works well but it’s not for me. Why couldn’t we just keep the lay out of the old secondary market but add more features. Why the pop up nonsense which makes it unusable on iPhone unless you allow all popups. Glad my loans are all amortising so I can just let them run down. Another backward step, IMO, is that the IRR is now not displayed for each bid and offer price on the order book. Functionality has significantly decreased, this new UI is a disaster. The current system is even worse than the old one in this respect as it now forces me to have a cash margin above my purchase value. Considering the amount of time coming and hype about the ASMX launch, there does not seem to have been much thought to at least provide the functionality we were used to on the SM which is disappointing.
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Post by ablrate on Oct 19, 2020 6:49:33 GMT
Thanks for your feedback... £60,000 has trade across 1,313 trades with 1 error that was fixed immediately. I am not sure what you mean about an 'ongoing situation' but everything is going incredibly well. Most of the feedback here is a tweak in functionality which we are working on and will be rolling out soon. I apprecite the the negative view point of P2P is the norm these days and that is fine but slating the technology on a public forum 3 days after launch is a bit harsh. IMHO, you are putting the future of your business and platform at risk with this TWO year project, that has faced critical observations from a number of different users, since the delayed launch... I’m sure it works well but it’s not for me. Why couldn’t we just keep the lay out of the old secondary market but add more features. Why the pop up nonsense which makes it unusable on iPhone unless you allow all popups. Glad my loans are all amortising so I can just let them run down. Another backward step, IMO, is that the IRR is now not displayed for each bid and offer price on the order book. Functionality has significantly decreased, this new UI is a disaster. The current system is even worse than the old one in this respect as it now forces me to have a cash margin above my purchase value. Considering the amount of time coming and hype about the ASMX launch, there does not seem to have been much thought to at least provide the functionality we were used to on the SM which is disappointing. Thank you for your opinion, you are entitled to it, of course. I happen to believe you couldn't be more wrong but time will decide who is right.
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Post by Badly Drawn Stickman on Oct 19, 2020 10:06:21 GMT
School time....
I notice on the loan information panel that we have the two following bits of data, I have not picked any particular loan so not included figures.
Odds of failure Number
Possibility of Default %
Where are the figures generated from? they look like the same just displayed differently.
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Post by ablrate on Oct 19, 2020 14:40:37 GMT
School time.... I notice on the loan information panel that we have the two following bits of data, I have not picked any particular loan so not included figures. Odds of failure Number Possibility of Default % Where are the figures generated from? they look like the same just displayed differently. These are from Creditsafe. we API in all the data from them (the same as on the Company Trading Report in Ablrate). There is a docuemnt sshowing how the y calculate it, we hope to post that for you.
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Post by Badly Drawn Stickman on Oct 19, 2020 14:52:29 GMT
School time.... I notice on the loan information panel that we have the two following bits of data, I have not picked any particular loan so not included figures. Odds of failure Number Possibility of Default % Where are the figures generated from? they look like the same just displayed differently. These are from Creditsafe. we API in all the data from them (the same as on the Company Trading Report in Ablrate). There is a docuement showing how they calculate it, we hope to post that for you. Thanks, the CCJ's at the bottom not showing properly currently. general or my display problem?
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Post by Ace on Oct 19, 2020 16:25:49 GMT
These are from Creditsafe. we API in all the data from them (the same as on the Company Trading Report in Ablrate). There is a docuement showing how they calculate it, we hope to post that for you. Thanks, the CCJ's at the bottom not showing properly currently. general or my display problem? CCJ line is always obscured by the lower Trades/Orders/Wallet etc banner for me when viewing in Chrome on a Galaxy Tab S6 in landscape mode. It's OK in portrait mode as it's shown higher up the page, so something else is obscured at the bottom instead. EDIT: Same issue in Samsung Internet browser.
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Post by Badly Drawn Stickman on Oct 19, 2020 17:27:03 GMT
Thanks, the CCJ's at the bottom not showing properly currently. general or my display problem? CCJ line is always obscured by the lower Trades/Orders/Wallet etc banner for me when viewing in Chrome on a Galaxy Tab S6 in landscape mode. It's OK in portrait mode as it's shown higher up the page, so something else is obscured at the bottom instead. EDIT: Same issue in Samsung Internet browser. I suspected it was general, but didn't put much effort into trying to see it. I am busy luring somebody 1 decimal point at a time into my carefully set selling trap, but constantly wondering if they are doing the same to me. I pretty much know the ablrate loans but those little points may become more important at some stage.
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Post by Ace on Oct 19, 2020 18:34:56 GMT
CCJ line is always obscured by the lower Trades/Orders/Wallet etc banner for me when viewing in Chrome on a Galaxy Tab S6 in landscape mode. It's OK in portrait mode as it's shown higher up the page, so something else is obscured at the bottom instead. EDIT: Same issue in Samsung Internet browser. I suspected it was general, but didn't put much effort into trying to see it. I am busy luring somebody 1 decimal point at a time into my carefully set selling trap, but constantly wondering if they are doing the same to me. I pretty much know the ablrate loans but those little points may become more important at some stage. I'm not a fan of the extra decimal place in the trading price. If you really want/need the extra 0.01% then just sell a day later. Loans on ABLrate earn over 0.03% per day anyway.
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Post by Badly Drawn Stickman on Oct 19, 2020 18:59:49 GMT
I suspected it was general, but didn't put much effort into trying to see it. I am busy luring somebody 1 decimal point at a time into my carefully set selling trap, but constantly wondering if they are doing the same to me. I pretty much know the ablrate loans but those little points may become more important at some stage. I'm not a fan of the extra decimal place in the trading price. If you really want/need the extra 0.01% then just sell a day later. Loans on ABLrate earn over 0.03% per day anyway. I doubt its for financial gain as such, but queue position. I have mixed feeling but could see what would happen instantly. Its amusing me at the moment and using is the best way to learn. Certainly 1 decimal place is sufficient for Ablrate loans but who knows what the future holds, presumably the 75% limit went for some grand plan.
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