j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Mar 22, 2014 19:09:55 GMT
But as I didn't go to the event I've no idea how they mean easteregging exactly (excuse the pun). If you're interested search that word on talk.Zopa.com it was named a Lender on there. Nothing that exciting, simply a spread of different offers at different rates, where one or more might get knocked out by others offering better rates. Unless oldnick meant something else. I think I will. Thanks Ton ⓉⓞⓃ
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Post by Ton ⓉⓞⓃ on Mar 22, 2014 19:11:12 GMT
:-Sas a non-IT guy, that went completely over my head Basically in a computer database you have one to one relationships between bits of data or one to many. With a one to one relationship it means that for each item of data a you can have one item of data b. So a user on our website may have one profile with their personal information stored in it. With a one to many relationship for every item of data you can have many instances of related data, for example a user may have multiple loan units that they own. Once the system is coded to work with more than one item, it doesn't matter if there are 1, 10, 100 or 1,000. Any limits placed are usually artificial to keep things manageable, make sure user interfaces don't break, keep down processing requirements, etc. The "strategies" part of the conversation will become clear when you watch the video. It refers to a new feature that'll publicly launch some time in May. That sounds like it maybe a big competitive advantage. I just wish I understood what you just said...
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unmadem
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Post by unmadem on Mar 22, 2014 19:20:52 GMT
Was there much discussion on excessive drawdown times and the disincentives to lend on the primary market in preference to picking up loan parts on the secondary market from underwriters ?
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Post by chris on Mar 22, 2014 21:31:06 GMT
Thanks for the layman explanation chris. When is the video uploading anticipated, given you'll need some time to fine tune its contents? Not sure as Cat, our marketing manager, is organising it for us. Hopefully in the next couple of days.
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Post by chris on Mar 22, 2014 21:33:04 GMT
Does this strategy stuff apply to both the primary, and aftermarket, or just the primary? Both. And pre-bids.
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andy2001
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Post by andy2001 on Mar 22, 2014 22:20:07 GMT
Will aftermarket strategies buy units from the aftermarket before they even list, or will there by a delay like par loan units on Funding Circle.
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Post by chris on Mar 22, 2014 22:58:42 GMT
Will aftermarket strategies buy units from the aftermarket before they even list, or will there by a delay like par loan units on Funding Circle. It will follow the same rules as manually interacting with the system, so no buying before the list. There may be some optimisations down the line so I won't say never, but no plans at the moment.
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Post by valerieb on Mar 22, 2014 23:36:22 GMT
Was there much discussion on excessive drawdown times and the disincentives to lend on the primary market in preference to picking up loan parts on the secondary market from underwriters ?
A brief mention and some discussion between a few lenders/potential lenders over lunch. Expected response from the team - aware of the issues, doing their best to minimise delays.
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Post by valerieb on Mar 22, 2014 23:41:50 GMT
Will aftermarket strategies buy units from the aftermarket before they even list, or will there by a delay like par loan units on Funding Circle. A suggestion that using auto-invest would be the best way to obtain loan parts in the smaller loans on the aftermarket, commensense really as doing it manually means being lucky enough to log on at the right time whereas auto-invest would always be looking.
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Post by valerieb on Mar 23, 2014 0:02:53 GMT
But as I didn't go to the event I've no idea how they mean easteregging exactly (excuse the pun). If you're interested search that word on talk.Zopa.com it was named a Lender on there. I think I will. Thanks Ton ⓉⓞⓃI think this came up in relation to the way in which you could use auto-invest to set a bidding range, as in the Thin Cats dynamic bidding model, but it was mentioned to explain that the system would be able to do this rather than to suggest that variable rate loans would be coming along. interesting fact - it seems that the team reject about 80% of the bridging loan requests put to them.
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andy2001
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Post by andy2001 on Mar 23, 2014 0:11:39 GMT
I think this came up in relation to the way in which you could use auto-invest to set a bidding range, as in the Thin Cats dynamic bidding model, but it was mentioned to explain that the system would be able to do this rather than to suggest that variable rate loans would be coming along. interesting fact - it seems that the team reject about 80% of the bridging loan requests put to them. Well if the auto invest picks up loan parts within a second or 2 of them being listed it will be the only way. I have a an auto hotkey script which I sometimes run in windows Xp mode, which checks the after market every few seconds, and makes a audio alert when something changes.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Mar 23, 2014 6:47:03 GMT
A great big thanks to all the team for an excellent day. I think you did an excellent job and I am sure that most people who were there appreciate your frankness and accessibility. I certainly learned quite a bit and although still slightly bemused by some of the proposed new developments will no doubt appreciate them when they are delivered.
Again well done, much appreciated and I look forward to you achieving the £100M goal by the end of the year.
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Post by oldnick on Mar 23, 2014 9:18:41 GMT
But as I didn't go to the event I've no idea how they mean easteregging exactly (excuse the pun). If you're interested search that word on talk.Zopa.com it was named a Lender on there. Nothing that exciting, simply a spread of different offers at different rates, where one or more might get knocked out by others offering better rates. Unless oldnick meant something else. I've been away from my computer since I made the reference to easteregging and now realise I shouldn't have used the term without more explanation, so - sorry! I didn't mean that it will be exactly like the situation on ZOPA, just that it reminded me of it. With ZOPA there would be a multitude of small loans being applied for by borrowers and the interest rate wasn't dictated by the platform as happens now with AC. Rather, lenders decided which rates they were happy to lend at and the borrowers either accepted the loan with a composite interest rate or rejected it. If there was an imbalance between the amount of money on offer and the demand then rates would rise or fall. Easteregging, coined by a contributor to the forum of that name, was a way of offering different interest rates with different pots of money to limit lender exposure to lower rates, while still getting some money lent out, but keeping other pots waiting to take advantage when higher rates prevailed. It was possible to marginally optimised the overall lending rates achieved if the lender was prepared to make the effort. ZOPA eventually changed the system so that they dictated the interest rate, solely, it seemed, with the intention of rising to the top of the comparison site tables for cheapest loan. I guess their backers decided it was time that ZOPA grew and that was the best way of sucking significantly greater numbers of borrowers in. ZOPA was insulated from falling interest rates as it charged 1% of the loan amount - lenders were not so fortunate... (How different to the attitude evinced by Andrew yesterday that growth was possible without resort to low interest rates - time will tell!) What AC are now about to provide is the opportunity for lenders to create multiple pots of money with different investment strategies. We might wish to limit our lending to particular classes of loans - privately owned versus limited companies - large loans versus small - short term versus long etc. Some classes of loan could be avoided altogether, or concentrated on exclusively. Or a spread of different classes of loan could be achieved. What might this mean in the future? Some investors will lend to anything that comes up - indiscriminately, others may show a preference. Once the number of loans increases (we hope!) there will be a market of sorts with some classes of applicant finding it easier than others to raise funds. The aftermarket will also take on the semblance of a market place with some classes of loan easier to sell than others. From this AC will be able to decide where to concentrate their efforts in the search for new business. At the moment (almost) every loan applicant stands a chance of succeeding as there is unsated demand that reduces lender discrimination. If AC's ambitions are realised, to lend £100 million in the coming year, we will have the opportunity to pick and choose (unless an excess of capital is attracted to the site to balance the demand), and a market will be born! Exciting times for us, and AC, and the enthusiasm from the team was evident. Andrew, being a northener, avoided any overt displays of emotion, but I could tell... By the way, this is not a job application.
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duck
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Post by duck on Mar 23, 2014 9:58:28 GMT
Firstly thanks to those who went to the Lender Day and have 'reported back', interesting and encouraging reading.
I look forward to the time when separate 'pots' will be necessary since that by implication implies a larger number of loans, which means growth. Sometimes it is easy to forget that Year 1 is still underway so it is good to read that strategies are being put in place to ensure that the current growth continues.
Ahh Easteregging (and fishing trips), those were the days on Zopa, I've been withdrawing payments from there since all the major changes - it no longer suits me.
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Post by oldnick on Mar 23, 2014 10:09:47 GMT
Firstly thanks to those who went to the Lender Day and have 'reported back', interesting and encouraging reading.
I look forward to the time when separate 'pots' will be necessary since that by implication implies a larger number of loans, which means growth. Sometimes it is easy to forget that Year 1 is still underway so it is good to read that strategies are being put in place to ensure that the current growth continues.
Ahh Easteregging (and fishing trips), those were the days on Zopa, I've been withdrawing payments from there since all the major changes - it no longer suits me. Fun times indeed, although I much preferred chocolate to fish.
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