TWINO Announces Updates to Polish Loan Securities Interest Rates

Following up on their last update, TWINO have recently received the regulator’s approval to list the Polish Loan Securities with different interest rates.

Thus, not only different terms but also different rates of the securities “will be available on the TWINO platform further on.”

  • Term: from 3 to 12 months (with up to 36 months in the near future)
  • Interest rate: from 8% to 14%

March 2023 marked 10 months “since Fincard Sp. z o.o. has launched its new product – a fully digital credit card.”

Over these months, the product has reportedly “had an exceptional level of demand from the borrowers, thus they are currently growing their portfolio size.”

Iza Sienkiewicz, Country Manager of Poland, said the team are pleased to see that the demand from TWINO investors’ side “is strong and, thus, they are planning to diversify the term and rate structure of their liabilities.”

As noted in the announcement, make sure “to adjust your current Auto-Invest settings to maximize your investment returns in line with the newly available investment opportunities.”

In another recent update, TWINO provided key insights on their platform’s performance and a general outline of what’s been going on.

Here’s a recap of some of key figures:

Improvements in the UI. Based on your feedback, the team have “made improvements to their registration and onboarding process for new investors.”

Their newly introduced registration flow is “designed to provide a more seamless and intuitive experience, making it easier than ever for new clients to join their platform.”

They’re committed “to continuously improving their user experience.”

Polish Loan Securities with different interest rates.

As noted in an earlier update, the team had previously been “waiting on the regulator’s approval that would allow them to list the Polish Loan Securities with different interest rates depending on the term of the underlying loan, as well as other factors.”

This would “ensure better portfolio diversification by giving you an opportunity to invest in securities with different interest rates and terms.”

Suitability and Appropriateness assessment. TWINO says it is also “working on a new Suitability and Appropriateness (S&A) assessment including the review of investment limits and restrictions that are currently in place on the TWINO platform.”

The changes to the S&A assessment is also “the final step that they must complete before they apply for permission to offer their services cross-border.”

Tax identification number and tax residence certificate for 2023.

As a regulated investment firm, TWINO is required “to provide information about investors’ accounts to the State Revenue Service of the Republic of Latvia according to the Common Reporting Standard (OECD CRS).”

To comply with these requirements, they have introduced a new component in the “My profile” section of the TWINO platform – “Tax Details”.

They encourage clients “to review the information in this section and fill in your tax identification number.”

Also note that if you are “a tax resident of the EU/EEA, you don’t need to submit the new tax residence certificate for 2023.”

The lowered rate of 5% “has been automatically applied to your investments.”

Check here for more details.

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