Ablrate will be launching a new user interface next month that will give investors access to more data and a regularly-updated risk management score.
David Bradley-Ward (pictured), founder and chief executive of the asset-backed peer-to-peer lender, said that the new offering will go live by the middle of March and will be “a lot more user friendly”.
“It’ll work better on mobiles and tablets and with the new risk API there will be a lot more functionality,” he said.
“The plan is to make Ablrate not just a P2P platform but somewhere people can manage other stuff too.
“P2P lending platforms are going in two directions, black box and self-select where we put up loans and its totally transparent where you lend the money to.
“We’re now layering more risk management on there so you can look at your portfolio in a much better way than previously.
“We’re very keen on giving people more tools on risk management and more information and giving tools for self-select rather than going down the route of black box.”
Bradley-Ward said that it is important for P2P platforms to show how defaults affect investors’ overall yield, particularly in light of the Financial Conduct Authority’s stricter rules on the sector that mandate greater transparency.
“This is our move towards making self-select more transparent,” he said.
“We’ve looked at the best way to do that, to design a site that gives people more and more information, in such a way we’ll be able to leverage the infrastructure and architecture we build it on to have anything that can be brought in to make the process easier, more transparent and easier to manage risk.
“Liquidity is a massive part of that.
“We’ve spent some time looking at design and what sort of framework to have it in.”
Ablrate’s new user interface will go live around the same time as Bradley-Ward’s other project, ASMX, is set to launch. ASMX is a blockchain-powered secondary market for trading global debt that Bradley-Ward says will significantly boost liquidity in the P2P sector.