We funded our largest-ever loan in 6 minutes! (BN) Jul 19, 2021 8:01:13 GMT
Post by roxanamohammadian on Jul 19, 2021 8:01:13 GMT
Thanks again overthehill.
Over the past 12 months, we have seen liquidity on our platform soar. We believe this is due to a combination of factors: our fantastic track-record which everyone can check at www.blendnetwork.com/pages/statistics, the concerns felt by investors that rising equity markets were becoming somehow disconnected from the grim reality happening in the high streets and thus that equity markets may see a correction, concerns about inflation and the desire to diversify ones portfolio of investments to include additional sources of yield.
As a result of all this, you are correct in pointing out that most of our loans are currently getting fully funded by ‘AutoLenders’. AutoLend is an option available to all lenders and of course to yourself, if you wish to use it. It enables lenders to select their own criteria and lend automatically.
Regarding your point of rationing AutoLend, I am pleased to inform you that we have taken onboard this great suggestion from several lenders, and in our past couple of loans have implemented a cap on the amount that lenders can lend using AutoLend.
Regarding the timing of the money transfer, this is down to the Money Payment Provider that we use, and we have been told by them that they are looking at reducing the time it takes to process the payments. In regard to the other platforms where you mention the money takes minutes to transfer, while I don’t know how they do it and therefore could not comment on it much, my suspicion is that they allow lenders to transfer funds using bank cards (debit and credit cards), something which we don’t do at Blend Network because that increases the risks of fraud, which we take extremely seriously at Blend Network.
Thanks very much for your comments. I hope this helps answer your questions.
If you have any further questions, please drop me a message or give me a call.
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