The upcoming software upgrade and what it means for the site and its users

Loanpad is updating its software. We have taken this decision in order to make the site even more user friendly for our investors, and to ensure that it we are up to date with the latest development standards in the industry.

Fintech companies are innovative by nature, and software updates are an important part of a platform’s evolution. We hope that this new version will improve the overall site experience for our users and allow us to implement future updates even more seamlessly.

How will the software update affect investors?

There will be no significant change in the way that investors use the Loanpad platform. Our users will still be able to access their profiles as usual, and allocate funds in the usual way. However, the look of these pages will change once the new software has been rolled out.

“We have rebuilt the foundations of the back-end architecture in order to speed up processing times and enhance the user interface,” says Neil Maurice, Chief Operating & Finance Officer at Loanpad.

“For us, it is about being able to be nimble and able to make the most of modern technology. What we’re building now allows us to bolt on new solutions and build something really lean that is representative of the Loanpad brand.

“Users will see a different interface, but the actual day to day stuff won’t change massively for them.”

The software update is currently ongoing and is set to be rolled out by the fourth quarter of 2024.

So what will be different on the new site?

• More self-service features

   

Once the update has been released, investors will be able to take more control of their account settings by making use of a range of self-service features. For instance, users will be able to set a wider variety of interest preferences such as re-investing their interest or auto-lending all available cash,  change their phone numbers and email address themselves, and speed-up the processing of investments from Standard into ISA accounts.

• Smartphone app

   

Loanpad will launch a smartphone app in the App Store and in the Google Store, so investors can track and manage their investments on the move.

• New profile page

   

The profile page will look different, with a new design that will make it easier to navigate the website.

• Streamlined onboarding for all

   

The onboarding process will be more streamlined. Individuals, companies and LLPs will be able to sign up separately using their own pathway.

• Biometric ID checks

   

Facial ID recognition will be introduced for the passport selfie. This will be integrated into the onboarding process to improve security and ease of use for new and existing investors.