Bitcoin Forum

New improvements on BitLedningClub system!
Our latest improvements are now live: The BitLendingClub team is thrilled to announce the details of the major improvements in our system! We've made some efforts to reduce fraud and proving better security. We believe this new system meets your expectations and we are confident that these changes ensure that we are featuring mostly high quality borrowers.
We'll continue our work on improving the lending platform and providing you more secure investments and loans.
Check out the improvements: https://bitlendingclub.com/


Here are some of the leading improvements made by our team:

• A limit of one loan at a time for borrowers with a reputation score under 50. This is measure that aims to reduce the default rate and fraudulent activity (i.e. spamming with loan listings).
• An e-mail notice will be sent to notify the borrower when a loan is delinquent by 30 days and another notice when the loan is delinquent by 60 days.
• Loans that are overdue by 90 days will receive a final notice. After 90 days of non-payment, the lender may request that we release the verification documents which the borrower has submitted. The documents may only be used for the lawful prosecution and resolution of non-payment.
• The maximum listing duration for a loan is now limited to 30 days.
• There are new fields in the income verification form, address form and ID upload page. We require the borrowers to enter a lot more private information for the purpose of completing the verification process.
• We have added the country flag of each user along with their loan listing (this should help reduce the lending risks).
• Miscellaneous bug fixes.

   

Checked out, looks nice.  Good luck!

How come each listing is funded at 0.00% ? And, more, I can't see any active listing at all...

There are not a lot of investors yet, so the listings are not funded. In addition, there are very few active listings now due to the fact that our verification requirements are substantially more stringent. The rules are as follows:

1. The borrower must verify their ID, address, phone number, e-mail address and income, prior to being able to make a new loan listing.
2. The borrower may only have one active listing at a time, unless they have a reputation greater than 50.

The verification process usually takes the borrowers several days, mostly because often times we have to reject the documents which they have submitted. This should provide increased security for the lenders.

Here is how the new Verification Center looks:
https://i.imgur.com/zpFJvJs.png

The ID verification form:
https://i.imgur.com/Z6KxzT0.png

The address form:
https://i.imgur.com/m7cI1rd.png

The phone verification form:
https://i.imgur.com/uso8HGn.png

The income verification form:
https://i.imgur.com/gp9Sw8n.png

Awesome! This could potentially turn out to be better than BitJam as long as we see some continued support :P

hey may i know why my id is rejected ??
http://prntscr.com/385xmp
its a normal ID card here in the NL

Hi, it looks like your ID was rejected due to the fact that you're under the age of 18.