Post by mrclondon on Nov 13, 2013 21:24:17 GMT
I take on board your comment about the secondary market - this area of the site is scheduled for an overhaul in terms of 'user friendliness' (if that is even a word!) in the near future. There are a number of areas of the 'logged in' area of the site that we believe could be improved upon and the 'Loan Exchange' is high on the list. Could I ask for some further feedback on what in particular you - or indeed anyone - finds good/bad about it? I can't guarantee that we'll be able to grant everybody their wishes, but I can guarantee that all suggestions/feedback will be given due consideration.
Welcome to the forum Nicky, and glad to hear you are open to constructive criticism.
The fundamental problem with the secondary market design for me is it doesn't answer the question I wish to ask of it - "What loan parts are available with a rate greater than 9% costing upto £75 ?" and displaying these in the context of my exposure per company not per loan. A previous iteration of the design enabled column sorts to be made to get closer to the necessary answer.
The current design is
a) inflexible, no sorts, no filters etc (see above comments)
b) unreadable - my eyesight can't easily make out the light grey text on a white background, there simply isn't enough contrast to make out the individual characters. I refer, of course, to the fact that you assume that because I don't have enough money in my account at that moment in time to buy a particular part there is no point showing its availability in a readable font. Err ... why ? Its easy enough to add money to the account once you've identified something worth buying.
c) unreadable - the abbreviated company names & loan titles are just awful.
Since the current design was introduced I have stopped looking at it - it is just too hard work to be a viable part of the Funding Knight "experience". All I need is a simple readable, sortable, filterable list.
My comments above refer only to the graphical design aspects. There are also in my view more fundamental problems. FK seems unique with a secondary market model that adjusts the rate on a daily basis to reflect interest accruels. This forces lenders to list at very low rates to reflect the fact that the rate will creep up over a period of time ... and to reflect the 1% seller fee. A secondary market is primarily provided to enable lenders to exit should they find a sudden need to extract the money. However, a well designed secondary market can increase the overall platform liquidity as lenders operate as quasi-underwriters. A 1% fee and a poor design definately discourages the latter.
