ABLRATE investors can now ‘follow’ loans they are not invested in, as part of a range of changes unveiled by the asset-backed lender to prepare for incoming regulations.
Previously, customers only received updates on loans they had invested in, but now they will be able to choose which loans they would like to receive information on even if they are not invested.
The platform also revealed it is working on a new user interface to prepare for the introduction of appropriateness tests from December as part of the Financial Conduct Authority’s (FCA) regulatory changes.
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“This will incorporate changes to cater for the new FCA rules where we need to test appropriateness but we aim to build this into a tour of the system which will help new and existing users,” Ablrate said in an emailed update to its customers.
“The main thrust of the new user interface is data and ease of use.
“We want those of you who want to drill down on data, to be able to do so.
“We also want to make the platform totally transparent, so showing your actual return from loans, tips to improve your lending that is data driven, auto buying functions, better display of repayments and better display of data for portfolio loans.”
The update added that the lender is working hard on origination and said it has a healthy pipeline, but is also “working diligently” on delinquent loans.
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