June – Development update

June - Development update

 

Last month we got our MVP (minimum viable product) out to the market for you to try it, and for us it gave the great opportunity to gather some feedback. We think that being able to compare different P2P investment platforms in terms of available loan amount is a good function to get started. Thanks for all the early users and especially thanks for the good suggestions, what we have received so far. We have listened the feedback and based on the feedback we have formed our next steps. Let me write a short summary, what you can expect for this month.

Design

Target was to launch the product and let you to try it as soon as possible, and therefore we compromised a lot what comes to the design. In order to fix these compromises, we are now designing a new layout for the whole web page, which will hopefully give it a fresh update. However, we still believe that the product first and then the visual image, but we got some spare time, so lets get hands dirty! 😉

What is coming out in June?

New functions

What comes to a new functions, the target is to launch two new functions this month, which are P2P News and Statistics. News will gather the most interesting and relevant P2P related news across the internet and aggregate them under piggybank site. The second function is statistics. We are currently on the process to implement more advanced charts in order to let you better compare the historical data of different platforms, and loan originators. The target is that thanks to the historical data you can make more holistic decisions, where to invest. 

And that’s not all! We have also started to plan the third function. We started asking how we can make this market more transparent and how we can get notified early enough if any platform we are using is undergoing any changes e.g. company reorganization events, insolvency events, changes in a management and so on. We are in discussions with a few external companies to provide this service through piggybank for you for free but it’s still too early to comment. More updates to come in a later stage, so subscribe for the newsletter and make sure that you know when something new is coming out. 

 

The next service on roadmap – Analytics!

The next service planning - Analytics!

The work for the next service has been started. The idea is to implement simple analytics tool to compare issued loan amounts between different P2P investment platforms based on various filters.. Filters would be something similar what is already existing on the homepage. The value for the investor is that you can easily compare the performance of different sites based on historical data. Even though the historical data is not a good prediction of the future, but at least it gives an okay understanding, what might be happening in this case.

The first idea for the filters  

Filters:

P2P investment platforms
Interest rate (range)
Loan period (range)
Buyback guarantee (Yes/Partial/No)
Currency (<- Only one currency can be selected at once
Chart type:

Bar chart:
Y- axis: Amount of the issued loans per day
– axis: Time (smallest unit is one day)
Needs to have a zoom function to display easily 1 day, 7 days or 1 month
Let me know your opinion, what do you think and do you see the value in it. Furthermore, let me know which platform should be the next on to added on our list:

Current platform list is:

Mintos
FastInvest
Grupeer
Crowdestor
Iuvo Group
Lenndy
Peerberry
Twino

Hello P2P investor world!

Hello P2P investor world!

On behalf of whole Piggy team (only me…) I am glad to announce the Piggybank has been officially launched, so time for some discreet celebration!    (Blog continues below…)

 

I think you have already gotten the first idea what is the purpose of the piggybank but let me share it here as well.

There are two purposes for Piggybank.

The first one is to build services which are useful for P2P investments. Now the first service is up and running, which is a tool for the users to compare investments among different sites on P2P sites. This way before transferring the money to any of the sites, you can easily check which of the sites are providing the best loans for your requirements. I want to emphasize that this first function is a MVP just to start offering services and I will be improving it along the way.  There is a more or less a plan for the future roadmap what I will be providing. The next services will be historical data comparison between different sites, intelligent alerts to notify users of new loans on the sites based on user’s requirements and some other tools to improve the users to sell loans to the secondary market ! 😉 of course, this roadmap is not set in the stone and I am looking forward for interactive blog where you as a user would give me inputs what kind of services you would feel helpful when doing P2P investments. 

The second part is to blog about my investments in this sector and real estate. I have been doing P2P investments more or less actively one year so I’ll be providing updates on my portfolio. I feel that there is a lot this kind of FIRE blogs and updates on P2P investments but the idea would be more or less to integrate these two parts; the tools I’m building and the investment updates together. I am not sure about the final format but let see how it will go on.  🙂 It might also be that in the future Ill only focus on the website technical development. 

I hope you find these things helpful for you and please comment your ideas and suggestions here! 🙂