Lande to relaunch secondary market by end of Q2
Lande Finance intends to relaunch its secondary market by the end of the second quarter of 2024.
The European agricultural lending platform paused all secondary market activities in December 2023, after a large number of transactions were processed erroneously, leading to incorrect balances and calculations for investors.
The platform’s chief technology officer Aleksandrs Nastasins said that the relaunch has involved “addressing complex requirements that are unique to our platform.”
“Due to this level of complexity and the need for precision in such transactions, we temporarily suspended the secondary market earlier this year to refactor our legacy systems safely,” he said.
“This decision prevents potential errors that could affect investor pay-outs during system updates.
“Additionally, we are addressing a loophole in our bonus system that some investors exploited through the secondary market, which requires new business rules.
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“We aim to confidently relaunch the secondary market by the end of the second quarter, after ensuring all technical and business enhancements are securely implemented.”
Nastasins added that Lande’s tech team conducted a full audit of its core platform requirements six months ago. The audit resulted in the creation of several initiatives aimed at improving platform health and scalability.
In the year ahead, he said that his team is focused on enhancing the scalability and efficiency of the platform. This will include an update to the auto-invest feature, and a more streamlined borrower onboarding process.
“These improvements are aimed at providing the best possible value proposition to our users and ensuring sustainable growth for the platform,” Nastasins added.
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