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#TrustBuddy: New platform to be fully launched by August

TrustBuddy announced yesterday that it has spent 12 months on the development of its new legal/technical framework, currently being rolled out, in recognition of the transitional move from national P2P entities towards multinational P2P industrial conglomerates. Over the past two weeks, the new P2P platform has been carefully launched in testing, and as of today all customers should have access to the new platform mainframe. Several additional features will continuously be added and TrustBuddy expects to see the new platform fully launched during August 2014.

The new platform includes intelligent credit scoring, a new lending module, new interfaces, artificial intelligence and a social media scoring system. It even incorporates a number of hidden features in preparation for new products under the anticipated credit facilitator license set up to significantly reduce the time to market for new services. A complete overview of the new functions will be released once all new components have been live-tested, with new functionality to be released following new licenses from the involved financial market regulators.

Jens Glasø, CEO of TrustBuddy, has the following comments in relation to the previous press release regarding the company’s launch of the new generation of P2P platform: “We have spent millions of SEK and more than 12 months going from the first-generation P2P to be a pioneer with the second generation of P2P. A new wave of effective and customized platforms will divide the P2P industry into first- and second-generation companies where the modern players will have great advantages over the old. This applies both in financial terms, reduced risk and in relation to the new rules and regulatory requirements that we expect to become a standard for the P2P market. TrustBuddy has taken yet another step further by also including a range of standard banking features and by offering a wide spectrum of services and products. With this, we become a viable alternative to traditional banks for most people. We are now in the process of finalizing our new platform, which even includes prepared functionality for services under our anticipated credit facilitator license, and we aim to be the market’s first full-service P2P platform in the first part of 2015.”

Exciting times ahead for TrustBuddy and its shareholders.

Nordic Investor

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