Monthly email July 2023
Summer is in full swing, which means that many people will soon be on vacations, including us at SaveLend. So, this is the final email before the holiday break.
In this email, you can read the following:
- Approval from the Danish Financial Supervisory Authority
- Migration of Lunar investors
- Increased interest on SBL Finans Consumer loans 80%
- New features and improvements
Approval from the Danish Financial Supervisory Authority
On June 7, we received very good news! The Danish Finanstilsynet, the equivalent to the Swedish Financial Supervisory Authority (Finansinspektionen), approved SaveLend's acquisition of Lunar Bank A/S P2P business. That was the basis for the agreement and ensured that we could complete the acquisition according to our plan.
Migration of Lunar investors
On June 12, we migrated around 24,000 investors from Lunar to SaveLend's savings platform. It was a significant project that, all things considered, went really well. But the process is not over yet; we are working hard to create new features for the migrated depots.
Increased interest rate on SBL Finans Consumer loans 80%
In April we already raised the interest rate on SBL Finans Consumer loans 80% and 100% when we predicted that the Central bank of Sweden (Sveriges Riksbank) would raise the reference rate in July. In this way, we gave you as an investor a higher interest rate in advance, before the Riksbank's reference rate increase and to better balance inflation.
In light of the fact that the Riksbank adjusted the reference rate on July 3rd, we increased the interest rate further for those who invest in SBL Finans Consumer loans 80% by 0.70, from 15% to 15.70%, as of July 4th.
New features and improvements
Functionality we worked on in June:
- Automatic transfers of uninvested funds between depots
- Upgrades for migrated Lunar depots
We are also actively working on improving the user interface on the SaveLend savings platform to make it more user-friendly.
We carefully consider every piece of feedback we get and build the functionality that you want the most. That is why it means so much when you contact us and respond to our surveys.
Have you found a bug, or are you missing a feature that you think many people would use? Get in touch with us at info@savelend.se!
Previous monthly email
- Did you miss the email in June? There you could read about:
- Highlights from our latest quarterly report
- Payment of the deposit bonus
- New features and improvements
Read last month's email on our blog.
Finally
If you have any questions or concerns, feel free to chat with us through our website, call us at +46 8 124 460 67 or send an email to info@savelend.se.
We wish you a happy summer!
Team SaveLend