j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Mar 23, 2014 10:09:47 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. Thanks for the comprehensive explanation oldnick. Makes more sense now. PS There's nowt wrong with Northerners 
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Mar 23, 2014 10:12:40 GMT
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. My hope is AC don't go down the route of older platforms. I like the rates & offerings as they are, all that is missing is a larger volume of loans & a bit more variety possibly.
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Post by oldnick on Mar 23, 2014 10:16:39 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. Will someone else please explain what 'fishing' was on the ZOPA site - I did easteregging. Just in case an explanation of ZOPA fishing is slow to arrive, it is not to be confused with flirty-fishing, an American religious sects' practice of using attractive young people to suck the gullible into their cult!
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Post by oldnick on Mar 23, 2014 10:21:34 GMT
Thanks for the comprehensive explanation oldnick. Makes more sense now. PS There's nowt wrong with Northerners I hope I didn't imply there was, but I'll say no more or they'll get big headed about it.
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Post by oldnick on Mar 23, 2014 10:25:07 GMT
I'm returning from the event now and can report a highly informative meeting. The AC folk held up well under questioning, giving a potted history of the company and its ethos in the morning and a peek at all the new buttons and dials soon to appear in the loan section in the afternoon. I won't go into all the details as I'm sure to get them wrong, but the upshot will be much more control over a personalised lending strategy which can then be left to run on its own, tweaked at will, or switched on and off, as the mood takes us. As if that wasn't enough, we can create a number of lending strategies with separate pots of money to feed them. (I didn't think to ask how many strategies would be permitted, but it reminds me of the time when ZOPA allowed easter egging). For those who don't want to change, the current set up will still be available. Thank you Andrew et al for a very successful first meeting. Right now we're nowhere near being able to do easteregging, does that mean more smaller loans are coming with variable rates? Not absolutely sure I like easteregging, I seem to remember biggest wallet wins, unless I played it wrong. No judgement yet tho' have to see how it works out in practice. It must seem like I have an unhealthy interest in your avatar, but what is the significance of the red x followed by a very small cat trying to escape from its box?
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Post by oldnick on Mar 23, 2014 10:33:15 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. Nice try Chris, but as a non IT type that went completely over my head too  , so I'm glad I was there to hear you're other explanation on the day. Perhaps there should be an IT geeks board where you guys can discuss that sort of thing in an open, supportive and non judgemental atmosphere. And the rest of us can just lurk and marvel at the incomprehensibility of it all. Go on, you know you want to.
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bigfoot12
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Post by bigfoot12 on Mar 23, 2014 11:21:47 GMT
Will someone else please explain what 'fishing' was on the ZOPA site - I did easteregging. I think that it is of historical significance as there have a been a few recent changes which make it less desirable. It is an attempt to buy pieces of loans being resold by other members whilst avoiding buying current loans. As Zopa has been going for a while, and as rates used to be higher, and as there is no premium applied to loan fragments being sold by rapid return (RR - zopa's equivalent of the secondary market) a few people tried to improve their return by concentrating on these. The tactics seemed to change over time as Zopa evolved, but largely involved making no offers during office hours (when most new matching was done), but then making an offer over night. The metaphor was extend by some to include throwing back. When a RR fragment acquired was a newer loan with a low rate, the fisher would 'throw it back' or RR him/herself. The RR algorithm normally chose the newest fragment. My quick calculation suggested that these people were earning significantly less than the minimum wage by going to this effort.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Mar 23, 2014 11:27:59 GMT
I did something very similar, until I spotted that nearly all of my higher rate loans either defaulted or repaid early! [Back on topic] I'm very much looking forward to hearing more about the lender day and seeing some slides/videos uploaded.
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Post by Ton ⓉⓞⓃ on Mar 23, 2014 11:59:46 GMT
I did something very similar, until I spotted that nearly all of my higher rate loans either defaulted or repaid early! [Back on topic] I'm very much looking forward to hearing more about the lender day and seeing some slides/videos uploaded. It's the increase in the number of loans that's expected that's getting my interest b). So far my experience is close to watching paint dry or kettles boil. I understand it's better that DD is done properly and it's best that AC get the first year right. I liked the bit about 80% rejection/20% acceptance. There must be endless bad/poor deals floating around at this point in the business cycle. OFF TOPIC ALERT. I've never gone on fishing trips...until just recently that is after getting a microloan of £10 @2.46% I tried to throw it back but picked the wrong one. I'm gonna try again to throw out this 2.46% fish, so far I'm just throwing out my good fish.
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Post by Ton ⓉⓞⓃ on Mar 23, 2014 12:07:46 GMT
Right now we're nowhere near being able to do easteregging, does that mean more smaller loans are coming with variable rate It must seem like I have an unhealthy interest in your avatar, but what is the significance of the red x followed by a very small cat trying to escape from its box? I think I'll change it as it's annoying having constant movement in the back ground when you're trying to read, but it's nice watching it for the first three hours. It's a cat picking up it's lost kitten
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Post by oldnick on Mar 23, 2014 12:21:14 GMT
It must seem like I have an unhealthy interest in your avatar, but what is the significance of the red x followed by a very small cat trying to escape from its box? I think I'll change it as it's r annoying having constant movement in the back ground when you're trying to read, but it's nice watching it for the first three hours. It's a cat picking up it's lost kitten And the red X?
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Post by oldnick on Mar 23, 2014 12:34:37 GMT
I did something very similar, until I spotted that nearly all of my higher rate loans either defaulted or repaid early! [Back on topic] I'm very much looking forward to hearing more about the lender day and seeing some slides/videos uploaded. It's the increase in the number of loans that's expected that's getting my interest b). So far my experience is close to watching paint dry or kettles boil. I understand it's better that DD is done properly and it's best that AC get the first year right. I liked the bit about 80% rejection/20% acceptance. There must be endless bad/poor deals floating around at this point in the business cycle. OFF TOPIC ALERT. I've never gone on fishing trips...until just recently that is after getting a microloan of £10 @2.46% I tried to throw it back but picked the wrong one. I'm gonna try again to throw out this 2.46% fish, so far I'm just throwing out my good fish. I never had the patience to fish for minnows with a rod at night, a net cast during the day was always more efficient use of my time. But now we have AC which is more akin to fly fishing for trout and salmon I think. Perhaps big game fishing at sea will develop from it (we've caught a few stray 'biguns' recently). Whaling, on the other hand, will always be the preserve of the banks.
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Post by enzed on Mar 23, 2014 12:34:57 GMT
*Chris - are you having probs with your email - my emails are getting bounced back?
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Post by chris on Mar 23, 2014 12:46:54 GMT
*Chris - are you having probs with your email - my emails are getting bounced back? Not that I'm aware of. Could try PMing me on here?
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Post by Ton ⓉⓞⓃ on Mar 23, 2014 12:55:35 GMT
oldnick the red x as you may remmber was the way to show that a picture hadn't loaded. So this is a little funny. *Chris - are you having probs with your email - my emails are getting bounced back? Sorry to interrupt but if you put an @ infront of chris it alerts him.
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, so I'm glad I was there to hear you're other explanation on the day.
