Author Topic: New Platform  (Read 7001 times)

AcaciaRose

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Re: New Platform
« Reply #30 on: July 04, 2018, 11:49:52 AM »
I also received an email response to my complaints. Although I wish they had taken user requirements into consideration before designing and rolling out the changes, I am glad they're going to restore the features we miss. I hope they learned a lesson from this fiasco.

.Ryan.

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Re: New Platform
« Reply #31 on: July 04, 2018, 12:07:41 PM »
For me, this "update" is just another (one out of many) proof point that I made the right decision to pull my money out of LC. I really don't feel like reatil investors are a client base that LC cares much about anymore.

To those who follow the company sheets, can you tell if incoming retail $$ is trending up or down? I'm curious.....

Rob L

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Re: New Platform
« Reply #32 on: July 04, 2018, 01:34:53 PM »
For me, this "update" is just another (one out of many) proof point that I made the right decision to pull my money out of LC. I really don't feel like reatil investors are a client base that LC cares much about anymore.

To those who follow the company sheets, can you tell if incoming retail $$ is trending up or down? I'm curious.....

I was interested too. The chart below represents the % of investment made by each investor class, not $$ though.
Self Managed (Retail) investors as a percentage have dropped by half (20% to 10%) since 2015-Q4.
Institutional investors have dropped by 57% over the same period (30% to 13%)
Banks + LC itself now fund 57% of the loans made.

However, note that the retail % has held steady over the past 3 quarters at 10%.
Maybe they are trying to turn the corner and get on the rise again.

I've thought they would be better off dumping the retail platform and saving all the money they spend on it. I'm no expert, but if they did that I think they would have to write this asset off the books and they would take a major hit. Also they may think this is seen as an important asset by potential suitors. I dunno; just speculating.



rawraw

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Re: New Platform
« Reply #33 on: July 05, 2018, 06:15:18 PM »
What asset would be written down if they exited the retail business?

Rob L

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Re: New Platform
« Reply #34 on: July 05, 2018, 06:55:43 PM »
What asset would be written down if they exited the retail business?

The asset value they assign to the software, etc. developed and developed and deployed for this purpose.
It's all been capex and that expenditure should put something of value on the books, no?
I'd have to look at their balance sheet to figure out what it is, but it should be substantial.
Could be wrong; pure speculation on my part.

SMWinnie

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Re: New Platform
« Reply #35 on: July 08, 2018, 09:01:40 PM »
Well I, for one, love the new interface.

The landing page used to show me how much interest I have been paid and how much principal I have written off or down. Now I need to bounce from screen to screen to see that 71.4% of my interest has been burned off through writeoffs and writedowns.

Also, since the sortable list of notes no longer displays portfolio, I'm saving the time I used to waste characterizing loans as troubled, re-performing, etc. That should be a real time-saver!

Voj

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Re: New Platform
« Reply #36 on: July 09, 2018, 01:31:44 PM »
I've sent them the nastiest email when this change rolled out. Rolling out an untested interface change is just plain sloppy. It has poor design written all over it. Who in their right mind thought combining LoanID and NoteID into one column was a good idea.

LC wants to be next generation then let users select their own columns to display and save the changes to a profile so investors can pick what we want to look at instead of being forced to look at some amateur attempt at a nice UI design, which in the end is useless.

Engineers are working on a fix...that fine, roll back the old interface, test the new UI internally and correctly, and then roll it out slowly to a small set of users, get feedback, iterate, etc.

Hopefully they are monitoring this thread. I didn't realize that a new CTO is running the show and that makes perfect sense that he needs to show some kind of change for the better in the first 100 days, but like I said in the email I sent to them. They took one step forward, then two steps back and shot themselves in both feet.

I have a feeling they are calling this an accomplishment because they released on time...they released junk on time. I forget the exact quote, but it goes something like "release late, no one cares, release junk, no one forgets".

Really embarrassing.

Lovinglifestyle

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Re: New Platform
« Reply #37 on: July 09, 2018, 05:45:08 PM »
I actually like the Loan ID and Note ID in one column.  Saves hunting.
 
Crazy:  clicking on Charged Off gets all the fully paid ones too, as somebody else said.

Old annoyance still there:  My Notes At A Glance box still springs shut after every use--no choice to stay open.  Used to be an option for that, long, long ago.

Still awful:  Never was any transparency for figuring out how one's investment is actually performing.  Now it's worse.

AcaciaRose

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Re: New Platform
« Reply #38 on: July 09, 2018, 06:52:49 PM »
I just logged in, clicked on Holdings, and was pleased to see the old screen is back.

hdsouza

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Re: New Platform
« Reply #39 on: July 09, 2018, 07:02:00 PM »
Wow the old platform is back. I hope this is hear to stay.

Thanks to all of you who reported the problems in the new platform to LC !!!!!!!
They finally heard the pain.
Thanks.

.Ryan.

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Re: New Platform
« Reply #40 on: July 09, 2018, 08:11:51 PM »
And I thought it was pathetic for Prosper keeping their interface in beta for 2+ years. LC found a way to outdo them!!

Lovinglifestyle

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Re: New Platform
« Reply #41 on: July 09, 2018, 10:26:08 PM »
Yay!  I never thought a return to the status quo would be a relief.  Reminds me of the farmer and his wife whose house seemed so much larger when they moved the animals back to the barn.

kib

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Re: New Platform
« Reply #42 on: July 10, 2018, 11:03:56 AM »
Looks like they rolled this back to the old interface?  If so, was it because of our incessant bitter complaints?  Maybe other "changes" are in the works.   :P   Keep it coming!!