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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 a lot of transactions have been processed erroneously, resulting in incorrect balances and calculations for traders.
The platform’s chief expertise officer Aleksandrs Nastasins mentioned that the relaunch has concerned “addressing advanced necessities which can be distinctive to our platform.”
“Because of this degree of complexity and the necessity for precision in such transactions, we quickly suspended the secondary market earlier this yr to refactor our legacy methods safely,” he mentioned.
“This resolution 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 traders exploited by means of the secondary market, which requires new enterprise guidelines.
Learn extra: Lande receives EU crowdfunding licence
“We goal to confidently relaunch the secondary market by the tip of the second quarter, after guaranteeing all technical and enterprise enhancements are securely applied.”
Nastasins added that Lande’s tech workforce performed a full audit of its core platform necessities six months in the past. The audit resulted within the creation of a number of initiatives aimed toward bettering platform well being and scalability.
Within the yr forward, he mentioned that his workforce is targeted on enhancing the scalability and effectivity of the platform. It will embrace an replace to the auto-invest function, and a extra streamlined borrower onboarding course of.
“These enhancements are aimed toward offering the absolute best worth proposition to our customers and guaranteeing sustainable progress for the platform,” Nastasins added.
Learn extra: Lande completes €1m in loans in March
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