Company name change poll

At a guess, because Lendy has always been their company name. Saving Stream was a retail brand they could no longer use because the FCA object to the use of the word "saving" in the context of P2P.

Okay, if it is such a great name, why did they not use Lendy from the start?

My flabber hasn't been so gasted for a long time.  I can usually pre-guess poll results quite accurately.  I was not expecting such a large percentage picking option 3.
I have been wondering why so many people don't care, when it could even contribute to L going down the toilet and obviously losing them money.   I would move out now but can't because now virtually all my loan parts are going to take many months to sell with a substantial loss of interest.   Before the name change I could sell the lot almost instantly because they are all 12% with at least 100 days remaining.   The 3 parts I currently have on the SM could go into default at the rate they are currently moving if borrowers can't return the capital

It's a shame nobody seems to want to give any reasons, for choosing 3, some could be competitor reps who could benefit by getting extra business, some could be from disillusioned lenders who have already moved funds out.

When you consider large companies spend millions of pounds on rebranding.........and even then they don't always get it right.  One that springs to mind was back in the early nineties, when BT chose silver and white for their van livery......apparently a lot of the staff hated it.  I think that cost about £50million.

First impressions are very important, the results of a lot of job interviews have already been made before the applicant says a word.  A company's first impression is it's name

Another change would invite criticism. The Lendy detractors would have a field day.

That wouldn't last long, a couple of weeks tops..........but it might attract enough new lenders that could clear up the current glut of loan parts.
 
It goes back to the old saying 99% of all advertising is a waste of money, the problem is not knowing the 1% that isn't.

I couldn't care less how many times they changed their name or what they call themselves. I'm surprised anyone cares much what they are called. I find it hard to believe the loss of investor confidence has much to do with the name 'Lendy', when the more likely culprits are reduced interest rates, a spike in defaults, and the realisation that negative term loans are in interest arrears.

The best thing they could do to attract more money to the platform would be to work on FCA compliance, get full authorisation and launch an ISA. A welcome side effect of this would be that they would need to ensure their future financial promotions were clear and not misleading, which would be of great benefit to all investors.

For me, I'm waiting for a number of previously issued dodgy loans to meet their fate before I reconsider coming back (which probably means next year at the earliest). I'm crossing my fingers that I won't see any more of the same brought to the platform in the interim.

They have always been Lendy [long before Lenndy existed] (see CH & FCA that is the registered name), SavingStream was a brand name and had to be changed based on FCA feedback. Two sides to the business, and on the borrower side Lendy is the established name so it made sense to use the existing name rather than come up with something new. Saves cash as well as less rebranding.