Mintos Takes More Granular Approach to Displaying Risk Scores, Should Increase Transparency

The team at Mintos are pleased to announce an improvement to how the Mintos Risk Score is displayed on the platform.

Previously, they displayed Mintos Risk Scores “as whole numbers, for example, 7. But now, [they] display all Mintos Risk Scores rounded to one decimal place, such as 7.2.”

This more granular approach “aims to provide further transparency regarding a Note’s Mintos Risk Score.” In particular, it should “assist you in distinguishing the differences between Notes for lending companies with similar scores.” For example, Notes with “a Mintos Risk Score of 6.5 and 7.4 were previously both displayed as 7.”

As noted in the update, there have been “no changes to how we assess the risk of Notes for lending companies or how strategies invest.” The only difference is “how the Mintos Risk Score is displayed on the platform.”

Because of this more detailed approach, the Mintos conservative strategy, “which previously displayed Notes with a Mintos Risk Score of 7 or above, now shows Notes with a Mintos Risk Score of 6.5 or above.”

And for existing custom automated strategies, the Mintos Risk Score filter for Notes “is more precise.” For example, Notes “with a previous Mintos Risk Score filter of 7 now show a score in the 6.5 – 7.4 range.”

To view these more detailed scores, “see current Mintos Risk Scores.” Or, to learn more about how we calculate the Mintos Risk Score, you can check out the FAQs on the firm’s official website.

As noted in another update from Mintos, reduced withholding tax is “now live for EU and EEA tax residents”

To benefit from the reduced tax rate (5%) for EU/EEA tax residents, “make sure to review and confirm your tax details.” Once you do, the new tax rate “will be applied automatically.”

As mentioned in a blog post, Latvian parliament has “passed a law that reduces withholding tax requirements for private individuals who are tax residents of EU and EEA countries from 20% to 5%.”

What’s more, the law also “simplifies the taxation experience, as investors will only need to confirm their tax residence once, and no certificates or other documentation will be needed.”

The law change “will be effective from 14 November 2022.”

The team added:

“We’re working on implementing the changes on Mintos. We expect development to complete by the end of November. Once the changes are ready, you’ll need to review and confirm your tax details to benefit from the reduced tax rate. We’ll let you know when the reduced rate is live.”

They also mentioned:

“This is a big win for investors. We’ve been working together with the local financial institution trade association and other stakeholders for 2 years to affect a law change, and we’re very happy to see that our combined efforts have finally paid off! The law change doesn’t apply to investors who are not tax residents of EU or EEA countries. It also doesn’t apply to legal entities, which are not subject to tax withholding.”

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