Lande Finance intends to relaunch its secondary market by the tip of the second quarter of 2024.
The European agricultural lending platform paused all secondary market actions in December 2023, after numerous transactions had been processed erroneously, resulting in incorrect balances and calculations for buyers.
The platform’s chief know-how officer Aleksandrs Nastasins stated that the relaunch has concerned “addressing advanced necessities which might be distinctive to our platform.”
“As a result of this stage of complexity and the necessity for precision in such transactions, we briefly suspended the secondary market earlier this 12 months to refactor our legacy techniques safely,” he stated.
“This determination prevents potential errors that would have an effect on investor pay-outs throughout system updates.
“Moreover, we’re addressing a loophole in our bonus system that some buyers exploited by means of the secondary market, which requires new enterprise guidelines.
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“We intention to confidently relaunch the secondary market by the tip of the second quarter, after making certain all technical and enterprise enhancements are securely applied.”
Nastasins added that Lande’s tech group carried out a full audit of its core platform necessities six months in the past. The audit resulted within the creation of a number of initiatives geared toward bettering platform well being and scalability.
Within the 12 months forward, he stated that his group is concentrated on enhancing the scalability and effectivity of the platform. It will embrace an replace to the auto-invest characteristic, and a extra streamlined borrower onboarding course of.
“These enhancements are geared toward offering the very best worth proposition to our customers and making certain sustainable progress for the platform,” Nastasins added.
Learn extra: Lande completes €1m in loans in March
