Glad to help, the most important security and client/lender protection must-haves are not even being considered. You need to take into account the Gold Plated nature of FCA accreditation and permissions. You can find the platform status on the FCA register. register.fca.org.uk/
Financial Advisers when recommending P2P for their clients need the professional credentials of the platform operators, this as a minimum being the 5 basic requirements as below.
1. FCA Directly Authorised - Appointed Representative have no direct relationship with the FCA. 2. 36H P2P Loans - All Platform T&C's should read/disclose the status - taken from JustUs "Each Peer to Peer Micro-Loan Agreement is deemed to be a 36H Agreement as per The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013)" 3. FCA Client Money Permissions - Additional Due Diligence for this permission is carried out by the regulator. FCA Client Asset Team visit, audit and test the competency of the Finance Team, i.e. are they fit to receive, administer and protect retail deposits, if not, ask why? 4. Own named FCA client money accounts ISA and Non-ISA - You can not hold client ISA money in a digital eWallet, it has to be in a UK clearing bank for HMRC ISA status. The platform should name their Client Account Bankers. There's an FCA written agreement for client protections, without this who knows? 5. FCA Authorised and named living will Provider
I really hope that a certain member who is named after a prominent US market doesn't clock the title of your website!!! 😱
I'm an equity investor in AxiaFunder and a minor equity investor in Welendus(FO), Brickowner, Crowdstacker, Proplend, ABLrate, CrowdProperty, Assetz Capital, Elfin Market, Qardus & Loanpad. This time next year I'll be a miwionaire Rodders!