Kuflink sign-ups increase despite economic turbulence
New sign-ups are increasing at Kuflink despite ongoing economic turbulence, the platform has revealed.
The peer-to-peer lender’s chief operating officer Paul Auger (pictured) told Peer2Peer Finance News that the platform has not seen a big rise in withdrawals, and has actually noticed an increase in new investor queries.
This is in spite of a number of retail investor restrictions implemented by the Financial Conduct Authority, and against a backdrop of macro-economic instability which has seen interest rates rise across the board.
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“Given the economic outlook that is constantly in the press we have not seen a massive increase in withdrawals,” said Paul Auger, chief operating officer at Kuflink.
“Quite the contrary, investors that have money returned to their wallet balances are re-investing in new deals with us as they become available.
“What we have noticed though is that our sign ups by new investors have increased exponentially, but the time between signing up and investing with us has increased.”
Kuflink recently announced that it has strengthened its due diligence processes in order to reduce the risk of borrower default. Where an extension to the loan term time is requested and a higher rate paid by the borrower, investors will also receive a rate boost.
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