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Business process automation concept. Gears and icons on abstract background.
January 18 2021

Mintos updates algorithim to boost diversification

Marc Shoffman Global News, Industry News, News, Top 3 algorithim, diversification, Mintos

Mintos has altered how its automated diversification systems work to ensure there are enough loans to match an investor’s criteria.

The European peer-to-peer lending marketplace offers automated strategies that allocate funds across lending companies on the platform either by default or as set by investors.

The platform will never invest more in a lending company than an indicated percentage but there could be situations where this target isn’t filled if there aren’t enough loans to match.

To address this, Mintos said it has improved its algorithm to check whether the selected lending companies have had loans available for investing in the past four weeks, and whether or not other investors invested in them.

If not, the level of diversification for the respective lending companies will be set to zero.

Read more: Mintos hails record breaking year

Read more: Mintos reaches €5bn of funded loans

“The improved algorithm will be available from 18 Jan for all newly created custom automated strategies,” Mintos said.

“Existing strategies will keep their current diversification settings.”

Investors can change the strategy by adjusting their settings to the updated algorithm.

Mintos has implemented several changes across the platform in recent months including introducing appropriateness tests and giving each lending company a risk score to boost transparency for investors.

Nucleus Commercial Finance secures £200m in new funding FCA lumps P2P lending in with higher risk products again

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