The peer to peer lending platform Huddle Capital deployed Ablrate’s latest version of their software today in the first move towards integration with ASMX, the blockchain based secondary market being developed in partnership with Ablrate.
CEO of Ablrate, David Bradley-Ward explains “Our continuous mission with our software is to develop its speed, functionality and usability for lenders and those updates are applied to our white label partners. This upgrade is a significant one which also moves the Huddle Capital platform into the cloud”.
New developments available to Huddle are the new user interface including the Portfolio Loan function and a much broader administrative and reporting system. The tax reporting system and better discovery of data in the financial records has gone down well with Ablrate users and will now be available to Huddle users. The platform is now in the cloud, as opposed to being on a dedicated server, which makes the platform much quicker and more easily scalable.
Neil Scaife, Marketing Director at Huddle Capital said “We are excited to get the updates from Ablrate which will allow us to better serve our customers. We are looking to scale the business and this latest addition allows us to gear up origination and prepare for the launch of ASMX”.
Ablrate has also been in the news recently for their foray into distributed ledger technology. Bradley-Ward says, “We are working with ASMX who are building a blockchain system for trading debt, basically an easy to use, but highly sophisticated secondary market for trading debt worldwide that all P2P platforms can join. We have been working with them to integrate our platform and be the first P2P platform on their ecosystem which will give us a huge advantage and now that Huddle has been upgraded, they will be able to launch on ASMX too.”
Ablrate is currently raising a minimum of £350,000 on Crowdcube in order to continue the growth of the business and further develop the Ablrate software.
The campaign will be opened to the public February the first and has already raised £160,000 through private investments.