Kuflink has unveiled a host of new features, including open banking-powered instant bank transfers.
The peer-to-peer property lending platform used open banking fintech FaizPay to introduce the new payment facility.
“This will allow users to transfer funds and update their e-wallets instantly,” Kuflink said in a blog post on its website.
Kuflink said last month that it was testing the new payments feature in closed beta mode ahead of the launch.
The platform unveiled another new feature, which allows investors to compound the interest on their auto-invest and Innovative Finance ISA (IFISA) products.
“Simply click the radio button when you choose how much, and for how long, to invest,” Kuflink said.
“Compounding can be a great way to maximise your returns. At the end of each year, the interest you’ve accrued is reinvested – earning you interest on your interest!”
Kuflink also revealed a number of new developments that will be coming soon to the platform.
The firm said that it is working on a functionality that will allow IFISA transfers in to enter into ISA-eligible Select (manual lending) deals, which means that customers can decide which ISA-eligible Select deals they want their ISA transfer to go into.
It is also in the process of developing a segregated IFISA wallet and a SIPP wallet.
Other upcoming changes include a new feature that will show borrowers who have links as individuals, shareholders or directors, to other loans; an open banking-powered borrower verification tool; and upgrades to its proprietary deal risk / pricing tool.