An invitation-only product in the pipeline. What were we working on in February?

In February, our main focus has been on automating some support related processes for investors and to make it visible in the user interface, giving investors more control and saving them time.

1) Reporting, statistics and cash flow

While this has not been an issue for all portfolios, we have received some feedback over the recent months that several pages on investor accounts were timing out or simply too slow. Now, we have made improvements to reporting, statistics and the cash flow page to ensure the pages load much faster.

2) Support related queries

Due to an increasing investor base and support queries, we are currently working on making it simpler and faster for you to complete basic changes on your account. This will include:

  • Changing your contact number
  • Changing your address details
  • Enable multiple accounts to withdraw funds to
  • Close/delete your account without having to contact us
  • Improve the identification process so you will not need to contact us to become fully verified

This will help our investors complete what are often time sensitive actions by themselves. Overall, this will reduce the number of queries we receive and allow us to be there for customers who need more support with their investments.

3) A new and exclusive invitation-only investment product

More details coming soon…

4) Still in progress

Bondora still in progress

In previous posts, we told you that we are working on ensuring the distribution of the debt servicing costs applied to your account for collections is achieved evenly. Currently, the distribution is equal but the equality is achieved over multiple payments (by recording how ‘unfair’ the previous payment was and then correcting it the following time for the customers who received more or less). After we have completed the improvements, such fluctuations with payments will be eliminated. Also, to improve the accuracy of our cash flow forecasting tool we are increasing the precision of the ratios used and splitting overdue loans from current loans in the forecasts.

We’re still working on both of these improvements and will provide you with an update next month.