INVESTMENT aggregator OFF3R is preparing to launch “education modules” to help new investors understand the world of peer-to-peer lending better.
The modules will help prospective investors to learn more about the risks and opportunities involved with P2P. Each module will be more complex than the previous one, and every time a module is passed, a new range of investments will be unlocked. This will have the dual effect of both teaching investors about the complexities of P2P, and creating an audit trail for the regulator, which proves that users were made aware of the risks.
“We’re looking to build a very comprehensive school through which you can graduate,” said Lex Deak, chief executive of OFF3R. “Once you’ve demonstrated your understanding of the asset class and the suitability, you graduate to the next class at which point new investments can be unlocked.
“It’s great for the engagement and that little hit of dopamine when you progress through it. And therefore you’re more likely to engage and invest. From a regulatory perspective, you can demonstrate that you’ve understood the instrument and there’s an audit trail.
“That goes beyond what some other platforms are doing now which in my opinion is woefully inadequate in terms of understanding the suitability of the investor.”
Deak added that the modules will be aimed at retail investors as well as more sophisticated investors, and possibly professional advisers.
The launch is expected to take place in the first quarter of 2018, and will be open to all.
Read more: P2P Aggregators – Join the Crowd
OFF3R started life as an alternative finance aggregator but has since spoken of plans to broaden its offerings. In June, Deak told Peer2Peer Finance News that OFF3R is aiming to become the Moneysupermarket of the investment sector.