Last week we removed the Repaid amount from My investments Statistics section and changed the pie chart to show only your current portfolio proportions instead of all of your historical investments.
With our next release the pie chart will also be updated to use the same colors for the statuses as we have used in other views.
Improved loan schedules
Last week we also improved the way the loan schedules are shown to our investors and borrowers by splitting up the actual payments made or past due and scheduled future payments.
Your portfolio recovery statistics
Currently we’re working again with reporting and statistics. Many of our investors have asked for a better overview of the collection process so we have set out to give you an easy way to find out how the recovery process is advancing with the problematic loans in your portfolio.
As a result, we will be adding a new Recovery statistics section that will give you an at-a-glance overview of which phase your problematic loans are currently in.
We first have to make the recovery events more standardized and have come up with 5 stages of recovery that will be shown to investors:
- Stage 1 – Loan defaulted, recovery process started.
- Stage 2 – Court case filed.
- Stage 3 – Decision received, proceeding accordingly.
- Stage 4 – Passed to the bailiff/recollection.
- Stage 5 – Closed. Recovery ended according to court decision. Debt paid or recovery not successful.
The recovery statistics section in the My investments Statistics page will give you a quick overview of how many investments you have, how much outstanding principal, accrued interest and late charges are outstanding in each stage of the recovery process.
For more detailed view, you can click on any of the Stages and it will open up the My investments page with all the investments that are in this recovery stage as seen in the image below.
There will be new search filters available to search for all of your investments in a certain recovery stage.
Specific investment details
The stages will be visible from the investment details page as well with details about the current stage, the date of when last event happened and how many days ago that was.
For improved usability we also decided to make the collection process box scrollable to save space and make it easier to navigate to loan schedule in cases where a certain loan has collected a lot of events and messages over the years.
Great! I’m very glad I see the progress in the recent mess. Are you also going to optimize the cash flow and investment list, which is full of canceled, repaid loans, which completely distort these functions and stats ?
These are out of the scope of this project, but we’ll notify here about any upcoming updates when we start working on those.
First of all, I am also glad that you are working on these issues. Transparency is very important to us.
Then, I will also second Miroslav’s point about the Investment page, and the removal of cancelled and repaid loans from the page. I realize that you already answered his question, but please make this a top-priority in your next update.
I like your plans about recovery!
Thanks for the transparency on this process. Great to see improvements being made.
Good changes in the right direction.
Good Changes. It is great that Bondora works on transparency process.
In my opinion you should replace the pie chart with something more useful able, as an example, to provide an idea about the dynamic of each portion of the portfolio.
The pie chart, as I am sure you know, doesn’t have (rightly so in my opinion) a great reputation as a visualization tool. I think multiple stacked bar chart or area diagrams showing percentages for the different status of the portfolio repayments and, crucially, a time dimension, would enhance the report.
Good to see the progress. Thanks for this post, Taavi. However, besides more transparency in the recovery process, are you working to increase the efficiency of the recovery in all the countries that you loan to as well? In the end more transparency is great, however the real essential thing for investors will be the success of the recovery and a more timely recovery. Would be great to hear any insights on that topic!
Best regards, Philip
We are taking all possible legal means to collect the debt until the debt collection is passed to bailiffs irregardless of the country the borrower is from. All debt cases are forwarded to bailiffs once a quarter. Feedback is normally received according to their workload.
This type of reports are there specifically for the reason you stated: to give you an easier way to see how the recovery efforts are going.