A Conversation with Helari Laurent, CTO of Lendermarket
Can you share a bit about your background and what led you to a career in technology and eventually to your role as CTO at Lendermarket?
I guess my journey started as a teen when I spent most of my time, as many boys do, playing video games. I think the year was 2005 or 2006 and everything was still more or less in its infancy on the internet compared to where we are now. I was still rather young, but I had a very specific problem – my clan needed a webpage. The rest is history, as they say. That particular problem, combined with my logical thinking, problem-solving skills, and fascination with new technology, set me on a very clear trajectory career-wise.
For nearly a decade, I spent most of my time hands-on in the code, engineering the best solutions I could envision for different-sized companies and learning a lot from many talented people around me.
But it became evident that, as an individual contributor, there was a ceiling for how impactful I could be. Hence, over the past five years, I’ve transitioned into leadership roles, where I found joy in guiding people and teams to deliver innovative solutions.
Lendermarket attracted me because of its dynamic environment, commitment to innovation, and potential to influence the P2P lending space significantly. The opportunity to shape the technical roadmap for a growing company in a burgeoning industry was a perfect fit for my skills and vision.
As our investors already know, we have a new version of our platform, what are the main technical innovations or improvements that have been introduced?
The Lendermarket 1.0 platform was always meant to be a stopgap, but at some point, Lendermarket grew so much, so quickly, that moving away from it became a challenge in itself.
The new version of our platform is a significant leap forward in several areas. First and foremost, we’ve overhauled the underlying architecture to ensure greater scalability and performance. We’ve integrated a microservices-based architecture, allowing us to make modular updates and scale different components independently based on usage demands.
But what does all this mean for investors? Although we are still catching up with some of the functionalities that investors lost during the migration from Lendermarket 1.0 to Lendermarket 2.0, I hope the progress has been visible and significant. It will only continue to accelerate, as the main benefit of the new platform is its scalability and ease of implementation compared to the old one.
Can you walk us through the development process for this new version?
How did the team approach this update?
Although I joined in October 2023, the actual development of the platform had already been ongoing since 2022. During the period before going live with Lendermarket 2.0, the team had to focus on both platforms at the same time, and before I joined, they actually had to implement every new idea or feature twice, which, as you might assume, made progress on the new platform slow and cumbersome.
At first, there was a lot of back and forth just to update the old platform, but with the platform’s growth, the team discovered deeply rooted architectural problems, which sadly meant there was only one option left – to start from scratch.
This gave us a blank canvas to do things correctly but also presented us with a challenge: how to bring all of the investors’ data and investments over to the new platform. In the end, the decision was to bring investors over straight away and migrate their funds gradually for the benefit of all.
Also, as mentioned before, the new platform is built with scalability in mind, and I’m personally quite excited to see how everything operates when the platform grows two, five, or ten times.
What specific changes have been made to improve the user experience on the new platform?
The Lendermarket 2.0 platform delivers a much more intuitive and responsive user experience. We’ve completely redesigned the user interface to be more user-friendly, focusing on a clean design and better navigation.
Those who have been with us since the very launch might remember that this is already the second iteration of our design, a vast improvement over the first. The goal here is to make a lot of small improvements quickly to provide the most value in the shortest time to our investors.
Are there any upcoming features or updates that users can look forward to in the near future?
Yes, there are several exciting features in the pipeline! Some of these have already reached production, such as reports for “My Investments” and “Statement”.
These will be followed by:
- Notifications of ongoing activities on the platform
- daily summaries
- deposit/withdrawal notices
- notifications of the available balance on the account
- Improvements to Auto-Invest
- Reintroduction of multi-factor authentication
- Instant deposits using credit cards
These are the biggest upcoming developments we are currently working on, but at the same time, many smaller changes and improvements are always being made.
What emerging technologies do you see having a significant impact on P2P lending in the next few years?
To me, there are several well-established and emerging technologies poised to potentially transform the P2P lending landscape significantly.
- Blockchain and Smart Contracts: These technologies have the capability to enhance transparency and foster trust within the peer-to-peer lending framework. The implementation of smart contracts allows for the establishment of immutable, self-executing loan agreements, thereby minimising reliance on intermediaries and improving security.
- AI and Machine Learning: The influence of artificial intelligence on risk assessment and credit scoring is already evident; however, I believe we are only beginning to explore its potential. AI has the capability to enhance predictive analytics, providing investors with better resources to evaluate risk and anticipate returns.
- Decentralised Finance (DeFi): Although still in its early stages, decentralised finance has the potential to further democratise lending by allowing individuals to engage in borrowing and lending activities without the involvement of conventional financial intermediaries.
- Advanced Data Analytics: With the accumulation of additional data, advanced analytical tools will enable platforms such as ours to provide increasingly tailored investment opportunities and forecast market trends with greater precision.
How does Lendermarket manage technological risks, such as cyber threats?
At Lendermarket, we take a proactive and multi-layered approach to managing technological risks. Security is integrated into every stage of development, from system design to feature deployment. We employ cutting-edge encryption, firewalls, and security protocols to protect our systems and users.
What is Lendermarket’s long-term vision, and how does the technology strategy support this vision?
Our technological approach is linked to this ambition, emphasising scalability, security, and ongoing innovation. By adopting a modular, microservices architecture, we position the platform to adapt to evolving market demands. Our dedication to data analytics and machine learning will empower users with valuable insights in the near future, enabling them to make informed investment decisions.
What advice would you give to someone aspiring to become a CTO in the fintech industry?
Personal interest in both technology and finance is paramount. Fintech serves to connect two intricate sectors; thus, it is vital to be proficient in both areas. The fintech world, with its regulations, moves almost as quickly as technology advances, and keeping these two in sync can sometimes be a tricky task.
I would also say that a strong technical background and communication skills are essential. As a CTO, you’ll need to translate complex technical concepts for non-technical stakeholders and lead teams with diverse skill sets.
Given the rapid evolution of the fintech sector, it is crucial to remain receptive to new technologies and concepts. Mastering the art of balancing innovation with practicality—recognising when to embrace risks and when to adopt a cautious approach—is essential in this field.
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