With nearly € 90k in my portfolio, I've decided to stop my (re-)investments this weekend.
In the last few months some challenges have come up within the p2p environment at Mintos. I don't think these topics have been sufficiently addressed by Mintos so far.
@ Mintos: Can you please comment on the points?
- Lack of transparency regarding loans issued in local currencies: The fact that some loans issued on the Mintos platform in € are actually delivered in local currencies was not made clear by Mintos. In addition, these currency risks were not taken into account in the Mintos risk score. As the situation with Wowwo shows, Mintos did not assure these risks are adequately hedged. So today, investors are bearing the investment risks without having been aware of this when choosing the loans for investment. What are Mintos' short-term steps to avert these risks from the investor? What is your long-term strategy?
- Status of amounts in recovery from the Corona crisis in March 2020: The fact that Mintos sends me a monthly overview of the status of my recoveries is nice. What I dislike is that the recoveries show € 0 almost every time, with very few exceptions. Here I expect regular, pro-active information on the status of negotiations with the LOs. When can investors expect significant repayments? Almost 2 years have passed since the peak of the crisis.
- Misleading key figure / chart on the status of loans. Amounts in recovery are not included in the status KPI. This is a highly misleading display of the status of investment. Since the consideration of the amounts in recovery would be technically easy to implement, it makes me very puzzled that Mintos has not done this so far. Are there any plans to include the amounts in recovery in the KPIs? If not, what are the reasons for this?
Investments in the p2p asset are inherently high risk. By deciding to invest in p2p, I have agreed to bear these risks.
However, the shortcomings mentioned above are not caused by the core aspect of p2p, but by the organization at Mintos. I am not willing to bear these risks any further.
@ Mintos: I would be happy about your feedback on this.
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