Tried and clearly failed |
No chance that you big shareholders can get MFX to change a little & give us more communication ? |
 some sector news.
interesting to compare TIME & MFX.
MFX provides the AR & interim report to the market & almost never any other news or update about progress, so shareholders sut in the dark waiting 6-8 months for the next results to be issued. And there are no expectations given for future profit.
The silence is not popular with shareholders.
TIME
..
also lends to SMEs in the UK, as does MFX.
TIME communicates to its shareholders & as a result has created almost a team type atmosphere. Almost all shareholders seem to be loyal fans of the shares & of the exec. dirs.
Here is part of the RNS issued today by TIME which highlights perfectly the difference between TIME & MFX.
(btw the bod which is excessively expensive imo is the silent bod, MFX, not TIME !)
The following RNS mentions a forthcoming presentation for the performance for the first 9 months & also says that performance is in line with the recent upgrade to expectations.
So very different than at MFX.
RNS
" Finance plc
("Time Finance", the "Group" or the "Company")
NOTICE OF INVESTOR PRESENTATION
Time Finance plc, the AIM listed independent specialist finance provider, provided notice on 27 February 2025 that the Group will be providing a trading update in respect of the first nine months of the 2024/25 financial year ("Q3 FY25") on Tuesday 25 March 2025.
As communicated on 27 February 2025, continuing positive trading momentum has led to the expectation that Group financial performance for the full year will be at least in line with recently upgraded market guidance.[1]..
......
......" |
Note from Research Tree that they are stopping coverage of MFX. The board must have thought we were getting to much information ? |
while, for things like opening an account on-line
I can understand if a % of ppl might have problems.
Is it very common that software (which is usually all based on simple logic rules & not on AI) can sometimes struggle with humans, who often manage to find a route through the system that ends in a dead end or a fault, because the programmers never tested that route thru the software/system.
an example
in some countries people have 2 surnames, while most Brits have 1 surname.
If a Brit puts their 1 surname in to an on-line system in a foreign country, there is a chance it might just keep repeating that they must enter their second surname....before the process can continue....
that type of thing might happen with software/apps
Detailed testing should ideally happen, & test every possible combination of button/option clicks but often it doesn't 100% happen. And software has different versions as bugs/defects get found & removed. Reality.
I don't expect Conister's new software to be 110% this soon after being first used by the public but I do hope the % of ppl starting to open an account & not being able to is a small % & that Conister are aware of any defects & are fixing them, I hope. |
kaos3
...but also have to note that it is an automated process
& I am pretty sure that when a deposit for 12 months is received that surely their system sends a "completed/received' message to the client.
but
if clients want to chat to someone about their deposit then perhaps they should queue to make the deposit instead at their local bank....
& then whenever they want to again chat to the bank about that deposit then make an appointment for X days in the future to go in person to that physical bank office.
In my experience the olden days of instant personal service in bank offices for stuff like 12 month deposits, is all history now. In my experience you have to request an appointment for X days in the future. And most/much of society is not interested in that hassle.
A 12 month deposit. Have to read the Ts & Cs. Once its in its in. 12 months later you get it back. It's not that complicated !!
If you want the money back early you would have to read the small print to see if it is possible & if any penalty. |
would be interesting if anyone has first hand business experience |
as i do not live in uk - i looked conister bank and customers opinion. first few google search are:
tried to open conister bank uk account
tried to open conister bank uk account. got 4/5 way through application, but then download stopped working. i have e mailed them 3 times for help and all they do is tell me to go back to my application [how?] because they can see the application number, but that is it.the application was not stored by me, cos it stopped! now they have changed the % rates , so i have no guarantee that if i try a. new application again, i will be generated a new account number and be eligible for the lower rate only. the point is, if this is the best this organisation customer service can do - which is nothing - i suspect their overall service will not be good. having now read some of the reviews…..
Date of experience: 23 October 2024
Broken I.T
Broken I.T, snail pace response and endless phone queues from this bank. I applied for a bond online over a week ago and still no confirmation. Tried phoning and get a long wait. Then l get told that the application was incomplete but nobody could be bothered to tell me. It wasnt incomplete, l have the email telling me its been recieved and that they will get back to me with a decison. Terrible bank. Dont waste your time.
Date of experience: 21 October 2024
First time user ( 12 month bond)
Just invested with these people for 12 months rate was descent and fairly easy to apply and fund but sent 2 emails to check money was in and although I had 2 replies saying they will get back to me ! Nothing for 3 days !
You need to do better on your communication I am afraid !
Date of experience: 21 October 2024 |
..ok...
...in '22 it was a little bit earlier, 10th March
...so, there is a % chance it might happen next week. We will see.
Feels like it has been a long wait, in silence.
Hoping that PA Ltd did better in H2 than in H1.
And need to start seeing a return from the investment to automate/digitalise some of the processes for client interaction.
I guess we should see some data for how much money has been deposited at the new Conister UK bank.
The opportunities & strategies are there, is the co. able to make it happen ?!
------
On the 2 year chart the average price for the last 2 years looks to be at about 18p, with peaks at ~25p.
So at the current 15p (& with low p/e & low EV/EBITDA ratio) the risk/reward looks good. |
It was the 25th last year |
so, results any day, perhaps next week.
be nice to see this back above 20.0p & forget this 15p stuff. |
quoted price to buy is 16p
feels like a lifetime since seen that number !
(well, not since October '24, a few months) |
(the mortgage lending news was not very exciting
but it shows imo that the lending ratios have been checked by the IoM regulators & that they are happy it is compliant, so that is good news) |
Tiger,
I would go for £8M and I don't think I will be disapointed. |
The accounts will be nearing completion and it’s a leaky ship ( previous results)
What are we all going for PBT
£8 million and £10 current year? |
wow !
1p increase in the official price to sell !
+ ~6% ! |
i have just one brain cell. it decides cheap or dear
all the rest is balast to me. i do not feel good about mostly for investor useless superior specific indutry knowledge.
my one brain cell is enough to buy a stock. banking included. and it gets me lucky.
as i am not intelligent i also talk too much. lol
not only smart and handsome exist
i try to be as stupid and without any knowledge as possible. because we stupid get lucky. |
How you lot invest in banks amazes me.
Type "How many times can a bank lend the same £100 in mortgages" in google and let it tell you about.
Reserve Requirements
Fractional banking
Money multiplier |
look one example - insurance companies in most jurisdictions have to have so and so much of bonds in their portfolios - regulatory demand creates real estate safe product demand ...
if mnx can generate mortgage loans knowing they can bundle it and resell at a profit - why not?
we just do not know and should think out of the simple obvious banking business box is all i am saying
ps - i am also saying i do not know enough even about simple banking BS management regarding regulations... i just know it is very complex which leads to strange occurances - that much i know - that i do not know
sometimes it is bailing out one loan with another one of different cat and doing reclasification of reserves and impacting the tier 1 capital and so on .... very complicated |
regulatory demand.
I disagree.
Funds sitting in UK Govt treasuries or other similar places that can be sold quickly....to meet cash demands from clients
...counts as excellent liquid capital imo
while capital lent out on a 25 year mortgage loan....well, you can't call in that loan in order to pay back a client that wants their cash back.
----
to lend out cash for 25 years....would require imo deposits with time limit of 25 years....so it matches
otherwise if use money on 5 year deposit....then you have a risk if clients take their cash out (or want to !) after 5years.
...one solution would be to sell the loan to another financial house.....that gives you the cash back, which you can give back to any depositor wanting their cash....but if you sell the loan the mkt conditions at that moment determine if you make a loss on it or not. |
lots of cross selling channels established. good that no more bricks and mortar high capital and costs intensity needed to build up business
i speculate that there could be a specific deal as a reason to offer the mortgage business and getting all the papers. as it does not make lots of sense entering long duration low interest mortgage lending, when one is financed by short term deposits.
also why all this effort for such a small market as isle is ? and capital needed ...
we are paying JM 7 % after all.
ps - regulations regarding the composition of the banks BS is a very complicated minefield. regarding different kinds of capital and reserves. maybe they needed such a business inclusion to beter manage their BS due to the regulatory demand |
it was interesting to see that Edgewater apparently offer/sell general insurance, I didn't know that. I had thought they were solely a wealth manager/adviser.
---
With parallel thinking, can the recently acquired UK wealth manager sell insurance to PA's vehicle service clients ? |
If getting 4.5% with excess money sitting in UK Govt treasuries
...would it not be better to just leave it sitting there, rather than earning say 4% (!!) lent out on a mortgage (where there are staff costs & % of defaults & repossessions (= hassle))
At first glance it doesn't seem to make much sense; although perhaps the idea is to make a cut by selling the borrower home insurance & a life insurance policy.
Doesn't sound as exciting as making a nice NIM by lending out via PA Ltd. |
Earning less on the mortgages than they pay Mellon in interest.
Really a confidence booster for Pi's. |
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