Proplend introduces new security measures
Proplend has added two factor authentication in an effort to tighten platform security.
In an update to investors, the peer-to-peer consumer property lending platform said that it had added two factor authentication (2FA) in response to “lender feedback and a review of platform security.”
Investors will have to opt in to the new security measures, by logging in and manually adding permissions in settings.
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“2FA helps keep your account safe by providing an additional level of security that requires a time-restricted, single use code which is sent directly to your mobile phone,” explained Proplend. “This code must be entered as you log into your lender dashboard.
“2FA is not compulsory, for now we are leaving the decision on whether to enable 2FA up to you our lenders.”
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Proplend has also made its ISA transfer-in forms fully digital so that lenders can more easily move funds from one IFISA provider to another. New ISA transfers will now be confirmed via email, with lenders asked to sign the digital document electronically.
In the same investor update, Proplend confirmed that no loans were repaid in July, leaving a year to date total of 17 loans repaying £11.5m to date.
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