rogerbu
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Post by rogerbu on Mar 30, 2015 18:31:45 GMT
AS seems to have consistent problem distributing repayments.
E.G. Loan 126 Mid....ds E..gin... Repayments due 23rd of each month
1st Repayment. Late from lender and incomplete - Not a fault of AC's, but.
26th Jan 'an IT error has been generated when attempting to distribute the payment.
'
2nd Repayment. Again late from borrower, but
26th Feb - 'an IT error is currently preventing allocation to lenders' accounts.'
3rd Repayment. Doesn't appear on the 23rd. However
25th March - 'this month's repayment were received on Monday (ie 23/3/15) an IT error has been generated when attempting to distribute the payment.'
30th March 19:30 - No repayments yet credited nor any updates posted.
This is a 100% failure record. If the repayment distribution failed in both January & February, I would have expected the IT department to be all over the March distribution.
At the very least I expect to be kept informed properly!
I assume that others can point at similar tales of woe across AC's repayment history?
O' and the final insult is that the loan is now Investment Paused - 'due to late repayment' inferring that the borrower is at fault
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oldgrumpy
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Post by oldgrumpy on Mar 30, 2015 18:57:36 GMT
They've been making excuses ever since they launched their "improved" new website last October!
edit; 31 March - Payment for #126 received 23 March .... excuses start 25 March ... now it is 31 March and the loan is still paused "due to a late payment (which is blatantly untrue). IT still cannot deal with it. I am beginning to ask myself serious questions about the competence of parts of this platform.
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sqh
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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 31, 2015 17:45:52 GMT
Looks like AC are leaving the shackles on Loan #123. Monthly interest got paid two weeks ago, or was that an IT error? Either way, we should now get a 3 day window of opportunity even if the monthly payment has not been received. Or, if the grace period has changed back to 0 days, then we should have an "investment paused" banner.
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mikeb
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Post by mikeb on Mar 31, 2015 17:58:20 GMT
I am beginning to ask myself serious questions about the competence of parts of this platform. And what answer did you give yourself?
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oldgrumpy
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Post by oldgrumpy on Mar 31, 2015 18:30:00 GMT
And what answer did you give yourself?
The expected one. When platforms (not just AC) announce (with copious self-congratulation) wonderful newly designed websites, don't expect those new facilities to actually work correctly for at least six months; they won't have been tested enough for unwanted consequences of each algorithm. I had thought AC would be different, and might iron out errors more promptly.
Then I felt hungry, following all that thinking in one day.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 31, 2015 18:57:54 GMT
Looks like AC are leaving the shackles on Loan #123. Monthly interest got paid two weeks ago, or was that an IT error? Either way, we should now get a 3 day window of opportunity even if the monthly payment has not been received. Or, if the grace period has changed back to 0 days, then we should have an "investment paused" banner. It was suspended using a different button that doesnt display the banner. It should now be correct & start accruing from tonight. I would assume it will be unsuspended tomorrow if they can find the other special button. 
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mikes1531
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Post by mikes1531 on Mar 31, 2015 21:39:08 GMT
When platforms (not just AC) announce (with copious self-congratulation) wonderful newly designed websites, don't expect those new facilities to actually work correctly for at least six months... AC's 'new' website is in its sixth month. 
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Mar 31, 2015 22:06:59 GMT
When platforms (not just AC) announce (with copious self-congratulation) wonderful newly designed websites, don't expect those new facilities to actually work correctly for at least six months... AC's 'new' website is in its sixth month. The answer to all AC's IT problems was before they started to develop the new system ignoring the principle of KISS, KISS, KISS and remains KISS, KISS, KISS and is likely to remain so for a long, long time to come. The cost to AC for ignoring the KISS principle is without doubt lost customers and total loss of faith in the IT systems. Now I guess most of the IT people are beavering away on new developments such as Invoice Discounting or complicate the systems even further.
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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 31, 2015 22:30:18 GMT
I don't recall any comment, let alone an explanation as to why some loans have parts for sale which can't be bought.
Loan #84 had £2.79 (I thought it was fixed but it wasn't, just swamped by other loan parts)
Loan #147 has £328.65 available (I don't think this one has ever reached zero)
Loan #68 has £675.76 available (This appeared while the loan was "Investment Paused")
I'm waiting for new loan #160 C******* A******** D******** P**** to have an IT problem.
That would mean someone planted a bug in the bug plant?
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ton27
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Post by ton27 on Apr 1, 2015 8:18:18 GMT
I am a big fan (and quite a big investor) of AC but the constant "drip drip" of IT problems is a major concern.
If I were Andrew Holgate I would stop/slow down all development and concentrate on fixing the current problems. I will put up with the IT issues (as I have with TC) because I find the AC offering better than most (although more loans as promised would be nice).
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Mike
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Post by Mike on Apr 1, 2015 9:55:53 GMT
I am a big fan (and quite a big investor) of AC but the constant "drip drip" of IT problems is a major concern. I think it's a small concern for me, as in the previous cases it has genuinely only been an IT issue and there hasn't been any 'real' mistakes. Trust in the platform is important for me, and I feel that I have that more with AC than the other platforms I have used.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Apr 1, 2015 14:22:23 GMT
I am a big fan (and quite a big investor) of AC but the constant "drip drip" of IT problems is a major concern. I think it's a small concern for me, as in the previous cases it has genuinely only been an IT issue and there hasn't been any 'real' mistakes. Trust in the platform is important for me, and I feel that I have that more with AC than the other platforms I have used. I think you may find you are wrong about "mistakes" as many mistakes involving lenders funds have needed to be brought to the attention of AC by members of this Forum.
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niceguy37
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Post by niceguy37 on Apr 1, 2015 16:09:22 GMT
I am a big fan (and quite a big investor) of AC but the constant "drip drip" of IT problems is a major concern. I think it's a small concern for me, as in the previous cases it has genuinely only been an IT issue and there hasn't been any 'real' mistakes. Trust in the platform is important for me, and I feel that I have that more with AC than the other platforms I have used. I agree. I'm confident in the platform (although I do check the figures). But it would be nice if AC manage to sort out the long-standing issues: Overnight interest calculations resolved, including an automatic cross-check (i.e. does the overall total accumulated interest match: summing individual lenders' part compared to what would be expected at a loan level) Email or other notification of loan updates, new loans, lump sum repayments etc.
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sqh
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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 Apr 2, 2015 23:57:31 GMT
chrisWhen we change the MLIA target on any loan and click <apply>, we get a confirmation window with current target and new target, and the option to <cancel> or <invest>. That's good. However, if I accidentally double-click <invest> then the system doubles my request. The system doesn't tell me, it displays a single increase (or decrease) until I refresh the screen. In an extreme case I was able to click 5 times and get a five-fold increase. Is this functionality as intended ?
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