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From the Ablrate Blog

Ablrate Peer to Peer Lending Platform Updates 29/10/2019

Peer to Peer Lending Platform Updates Ablrate

With all the regulation changes that are coming on the 9th of December, the many UK peer to peer lending platforms are making changes to revise compliance procedures. Here at Ablrate we are making radical changes to our platform to not just comply with new regulations but excel in having the best peer to peer platform available. 

These changes range from a complete user interface (UI) overhaul to new dashboards explaining your risk and earnings over time, all of which will be fully customisable for each user’s preference. In this blog, we will break down the upcoming changes and give you a sneak peek. A quick disclaimer! Any screenshots you will see in this blog are displaying test data on our development build, they also might change before the final release. We will be testing extensively so while we aim to launch by December 9th it may be that our current platform stays for a little longer with a few changes to comply with the regulations. We are very keen, however, to get it launched as soon as we can.

Ablrate New Dashboard
New Look For The Main Ablrate Dashboard

Upcoming P2P Lending Platform Changes

Along with the upcoming changes to meet FCA requirements by providing an appropriateness test for lenders (more information coming soon in an upcoming blog) Ablrate will be overhauling all of the platform side of the website. The plan was to make the Ablrate platform the best Peer to Peer lending platform around for user experience. To reach this ambitious goal we have focused this update on 3 key areas:

Provide users with useful data. This ranges from risk management data to graphs about earnings over time, not just personal but for the platform as a whole. This can help users get a better picture of their investments and the performance of Ablrate without needing to export data and produce their own tables and charts in 3rd party programs.

Completely customisable. We understand that providing users with lots of information can be overwhelming, that why we are making sure that all the dashboards can be customised to display exactly what you want in the order that you want it. If you want your current investments at the top of your dashboard then you simply move it to the top, or if you want to have a breakdown the secondary market as the focus you can.

User-Friendly. We could make all the changes in the world and they would be for nothing if the platform was difficult to use. So, we have been looking at our current platform and reworking designs until we have something intuitive and simple to use.

New Borrower Page
New Borrower Page

New Ablrate P2P Lending Dashboard

At the centre of all these changes is the Ablrate dashboard. This will provide you with all the information that you find most useful. This ranges from your account balances and earnings to lists of available loans. These different sections can be ordered to how you see fit, made fullscreen for easier reading or even minimised to take up less room. The goal of this is to empower lenders to make smart informed decisions based on accurate information without needing to click on multiple different pages.

Risk Management & Ablrate Statistics

One of the areas the Ablrate team was keen to focus on was the risk management and statistics pages. These pages are made to inform lenders about their personal risk and the health of Ablrate. The risk management page breaks down different factors which affect your personal risk such as your diversification on the platform. This can help better inform lenders on how best to minimise risk.

We understand with recent news of P2P platforms failing that lenders want to make sure that Ablrate and its loans are in good health, this is where the Statistics page will come in. This page will provide a range of information from the simple stats found on the current homepage to more in-depth breakdowns on defaulted loans and the average returns. Notifications will also be displayed in a better format in a news section so that nothing is missed, and you are up to date with all loans you are invested or just interested in. We want to be as transparent as possible to our lenders and the more useful information we provide the better.

So, what do you think about these improvements? Have feedback on what we have shown? Leave a comment and let us know what you think. No release date has been announced yet for this platform update, but we will be announcing beta tests for a small selection of lenders soon. Make sure you are subscribed to our social media channels to keep up to date with all Ablrate news and platform updates.

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