March 13, 2020
Today I received an e-mail from Swaper in relation to the COVID-19 outbreak
E-mail from Swaper
In relation to the COVID-19 outbreak, updating you on our business continuity.
To ensure health and safety of employees Swaper and Wandoo teams have already switched all operations to remote work.
Swaper operates its business entirely online, so there is no impact on providing services to all of our clients. Our Tech and Customer Support teams, as well as other functions, are operating at full capacity. Same applies to our loan originators, they are also managing their operations entirely online and the work is organized remotely.
Wandoo Finance is experiencing increased demand of loans during the last weeks and we can certainly say that if increase of loan volumes in February was 7%, this month we expect it to be around 20% or even more. Wandoo Finance is planning to keep the increase and make funding even more available. At the same time, we understand the need to adjust risk assessment of the customers and scoring modules, to guarantee adaptation to the current situation.
On the bright side, Wandoo Finance is also finishing the last details of the new product, that will be launched in Spain and Poland – 2-month loan. We still need some time on testing it, but we already are getting real close to the final product. Loan amounts will be quite similar to the current loan product, but customers will be able to repay it in two payments. Loan amounts issued within this product will be increasing in time, but not straight away, because scoring models need some time to learn from the data. We will not promise the specific date yet, but more information will follow within the first part of April, so stay tuned!
If you have any questions do not hesitate to contact us at email@example.com.
The whole team at Swaper