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Post by sergeysedov on Mar 13, 2017 10:03:00 GMT
Robocash seems very interesting; unlike some other platforms where the owner(s) is well hidden, with Robocash not only we know exactly who is behind it, but he is very responsive to investors' questions/comments too. I think that's important for building the necessary trust. Also, they offer loans in countries not usually served by other p2p platforms. Maybe it is too early to join (i would like to see some statistics and financial reports first), but it is definitely in my watch list. Just a question out of curiosity though: why the platform is based in Latvia? AFAIK, they are not issuing any loans or having any other business in Latvia. As a matter of fact, in the last couple of years there are many p2p lending platforms based in Latvia, is a particular reason for it? Don't get me wrong, (for some inexplicable reason) i have always loved Latvia, it is just that i don't understand how it has suddenly evolved into the Mecca of p2p lending. Hello, Thank you for your kind words! As Wiseclerk already said: "No specific regulation, low requirements to get started."
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Post by lawyer on Mar 13, 2017 12:06:47 GMT
Just a question out of curiosity though: why the platform is based in Latvia? AFAIK, they are not issuing any loans or having any other business in Latvia. As a matter of fact, in the last couple of years there are many p2p lending platforms based in Latvia, is a particular reason for it? Don't get me wrong, (for some inexplicable reason) i have always loved Latvia, it is just that i don't understand how it has suddenly evolved into the Mecca of p2p lending.[/quote]
In principle, Wiseclerk is right. In Latvia, there is no clear regulation of P2P lending. The law is under development and will appear in 2017. At the moment, the Platforms are subject to a set of other regulations that the Platforms easily circumvent.
In general, legislation in Latvia is unbalanced. The "Regulator" can not influence the Platform itself at the stage of sale of debt, but it can influence the Loan Initiator, if it is under Latvian jurisdiction. The Regulator periodically prohibits Latvian Credit companies, dealing with personal loans, from selling claim assignments to individuals. In principle, the transactions of sale of consumer loans to individuals involve violation of Latvian law. Therefore, the Platforms mainly sell assignment of claims for loans, issued outside of Latvia, or loans to legal entities. In this case, the Latvian Regulator can not influence the Platforms. During 2017, order will be established 100%. The law on credit intermediation has already been adopted. So the state understands that order should be imposed.
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Post by wiseclerk on Mar 13, 2017 12:54:19 GMT
lawyer, what impact would you expect that to have on the platforms already in operation?
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kulerucket
Member of DD Central
Posts: 336 
Likes: 93
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Post by kulerucket on Mar 13, 2017 19:49:05 GMT
My main gripe with this platform is that you cannot see what loans are available until some hit your autoinvestor settings. I have no idea what volume of loans come up at different interest rates so I don't know whether I am barking at the moon when I set my autoinvest to 16%, or whether I will hit some eventually. The difference between 14% and 16% is such that my funds can afford to sit uninvested for 36 days over a year meaning that it could be worth waiting. For his reason, I won't be adding anything else to my 100€ test money at this time.
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Post by southseacompany on Mar 14, 2017 2:44:42 GMT
The fact you can't see available loans is the most annoying thing about the platform. Imagine investing in the stock market if your broker only let you enter buy orders but there was no way to tell current or recent prices of any company's shares. That's basically the Robocash experience. Setting minimum interest rate to 15% causes undeployed money to pool in the account, at least for me, so I consider rates above 14% currently unattainable. The problem with waiting for 16% as kulerucket suggested is that Robocash loans have short maturities. A 2-week loan has to be rolled over 26 times in a year, so unless you can reinvest in less than two days on average, the cash drag will make it worse than a steady 14%. |
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Post by nesako on Mar 14, 2017 10:59:05 GMT
sergeysedov - another suggestion from technical side - you really should expire user sessions automatically after say 1 hour. I have logged in yesterday, entered website today and I am still logged-in! Does not feel safe at all! (in addition to being able to see some loan statistics - volume / value / rate stats per week / month would work for me to determine whether you actually get any loans above 14% or not)
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Post by gmaxkenny on Mar 14, 2017 11:18:26 GMT
So far I have got nothing above 14%. I believe their aim is to make it like investing in a tracker fund,you set the auto invest and they do the rest. From what they said at the start it is more aimed at passive investors than those who wish to actively manage their portfolio. If this scaled back version of a platform means a higher return then thats ok with me but I will not be investing much until it proves itself and if interest rates drop there are better alternatives out there.
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Post by lawyer on Mar 14, 2017 12:41:18 GMT
lawyer, what impact would you expect that to have on the platforms already in operation? I have seen the draft law, it already exists. The platforms will go under the jurisdiction of banking regulator. Equity requirements equal to almost 500 thousand euros. There are also requirements on AML and compliance, as well as standard requirements on reputational risks of the board members. And a guarantee fund in the amount of 1% of the turnover should be provided after the turnover exceeds the equity of the Platform. In addition, the Platforms will be required to hold 10% share of the investment. The requirements are strict, and I think that all small new Platforms will go under other jurisdictions. Viventor and Twino should get licensed. I guess that Mintos will begin to prove that the regulation is not binding to them and to threat with litigation, as they used to do. After licensing, the state will begin to interfere rigidly in the work of the Platforms (this is Latvia, where the officials are not really adequate) and will begin to regulate the rates for personal loans and the volume of their offer. Latvia has very big complaints to the Platforms in terms of supply of loans falling under the licenses of the Consumer Protection Society. Their credit companies can be licensed in two ways: the first one is banking regulator, the second one is consumer lending (Consumer Protection Society), but for the latter you can adjust both auto loan and mortgage as well. The Platform Partners usually operate under the second type of license. There are complaints in particular regarding the sales of claim assignments by the companies, operating under the second type of license in Latvia. And after licensing of the Platforms, the Regulator will be able to start to dictate the terms to the Platforms.
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kulerucket
Member of DD Central
Posts: 336
Likes: 93
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Post by kulerucket on Mar 14, 2017 12:43:03 GMT
I would not even really care about seeing the actual loans as I would be depending only on the Buyback. Just some higher level summary figures about what is currently available would do.
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Post by lllmlll on Mar 14, 2017 18:13:50 GMT
sergeysedov - another suggestion from technical side - you really should expire user sessions automatically after say 1 hour. I have logged in yesterday, entered website today and I am still logged-in! Does not feel safe at all! (in addition to being able to see some loan statistics - volume / value / rate stats per week / month would work for me to determine whether you actually get any loans above 14% or not) Why not letting the user decide if keep session opened or let it expire? Everyone knows their needs better.
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Post by robocashsupport on Apr 6, 2017 8:39:35 GMT
Now it is even more convenient to manage investments! After replenishing the balance, the investor creates one or more portfolios, depending on the desired parameters. Previously, money to a specific portfolio needed to be transferred manually and it took some time. We have taken into account investors' remarks and now in your personal account you can set up an automatic transfer of desired sum of money from the balance to the required portfolio. Do you have any suggestions for improving the service? Please write your opinion in the comments or send us a mail to support@robo.cash and we will definitely consider it! You can earn more money in less time with Robocash |
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Post by sergeysedov on Apr 6, 2017 8:43:38 GMT
My main gripe with this platform is that you cannot see what loans are available until some hit your autoinvestor settings. I have no idea what volume of loans come up at different interest rates so I don't know whether I am barking at the moon when I set my autoinvest to 16%, or whether I will hit some eventually. The difference between 14% and 16% is such that my funds can afford to sit uninvested for 36 days over a year meaning that it could be worth waiting. For his reason, I won't be adding anything else to my 100€ test money at this time. Hello Kulerucket, I agree, we will add this feature in April, so you can see volume of loans you can invest to(with 14% or 16%). It is in back log already.
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Post by sergeysedov on Apr 6, 2017 8:55:13 GMT
sergeysedov - another suggestion from technical side - you really should expire user sessions automatically after say 1 hour. I have logged in yesterday, entered website today and I am still logged-in! Does not feel safe at all! (in addition to being able to see some loan statistics - volume / value / rate stats per week / month would work for me to determine whether you actually get any loans above 14% or not) Hello Nesako, We will add "settings" to Investor's account and you would put if you want to expire your session in 1 hour or more. To be realistic this feature planned to be added in June. We will add more statistics to website, so you can see how many loans available at each interest rate. This should be done in April.
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pauls
Posts: 68
Likes: 36
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Post by pauls on Apr 6, 2017 9:51:25 GMT
Can Robocash accept transfer via Transferwise?
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Post by nesako on Apr 7, 2017 8:30:06 GMT
sergeysedov - another suggestion from technical side - you really should expire user sessions automatically after say 1 hour. I have logged in yesterday, entered website today and I am still logged-in! Does not feel safe at all! (in addition to being able to see some loan statistics - volume / value / rate stats per week / month would work for me to determine whether you actually get any loans above 14% or not) Hello Nesako, We will add "settings" to Investor's account and you would put if you want to expire your session in 1 hour or more. To be realistic this feature planned to be added in June. We will add more statistics to website, so you can see how many loans available at each interest rate. This should be done in April. Setting is very generous  Just thinking about people who may want to check investments on public machines in Hotels / Cafe's etc. and leaving session open would mean the next person could just come and browse around someone else's account. I do not know any other website which is money related which would not kill the session after window closure or after 1 hour whichever comes first.
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Just thinking about people who may want to check investments on public machines in Hotels / Cafe's etc. and leaving session open would mean the next person could just come and browse around someone else's account. I do not know any other website which is money related which would not kill the session after window closure or after 1 hour whichever comes first.