Prosper Relases site Redesign and Other Features — One Bug Found So Far. | P2P Lending, Peer to Peer Lending, People to People Lending

Hi everyone,

Tonight we released another update to the site. Without further ado…

Site redesign

The overall visual design of the site has been overhauled. The main pages have also been reconfigured to simplify the site and messaging for new users. The “Help” tab is up in the right-hand corner as a link, and the “Tools” tab is now the “Developers” link at the bottom left of every page.

See the new site now

Real-time API released

With this update we are releasing a real-time read-only API (Application Programming Interface) for researchers and developers who wish to use Prosper’s data on-demand via web services (rather than downloading a huge flat file). We hope to see lots of new tools for borrowers, lenders, and group leaders as the API continues to grow and developers become more engaged with the Prosper community.

Learn about and use the API

Recurring funds transfers

Now lenders can schedule a weekly or monthly recurring funds transfer from their external bank account to Prosper (or vice-versa). For example, you can schedule a monthly transfer of $500 on the 3rd of every month (just after pay day). Recurring transfers, along with standing orders, now allow lenders to lend consistently and regularly through Prosper without spending a lot of time managing the process. As Ron Popeil likes to say: “Set it, and forget it”.

Set up a recurring funds transfer now
Learn about funds transfers

Address verification for all borrowers

Until now, Prosper was only sending address verification postcards to borrowers whose address could not be verified through our electronic identity verification processes. In an effort to increase security and reduce the incidence of loans to victims of identity theft, Prosper will now require postcard address verification of all borrowers.

Learn about address verification

Lenders can remove supported groups

Before today, lenders didn’t have a place on the site to remove groups that they had added to the “supported groups” section of their member page. Now, lenders can go to “Your Account > Profile” and remove groups from their list on their own.

Update your supported groups list

Payments/transfers clear at 9:30 AM instead of 2:30 PM

Until now, all payments and funds transfers wait until 2:30 PM of the business day on which they are scheduled to clear to actually clear – that is, appear in your account (if you are a lender). We’ve moved that time back to 9:30 AM, so if you start a transfer before 3 PM on Monday, the funds will be available for bidding on Thursday at 9:30 AM. All times Pacific.

Those are the biggies, but as usual there will be a few nice surprises (if you find any un-nice surprises, let us know). Enjoy.

Best regards,
Andrew

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