What is platform risk?
Platform risk is the risk that the platform ceases to operate. If Leap ceases to trade, we have a run-off plan that would be activated. Contracts between investors and borrowers remain binding and loan repayments would continue to be made as normal.
In the unlikely event of platform failure
During the run-off period, any monies owed to Leap would be used to cover the costs of the run-off process and ensure that contracts with borrowers are fulfilled and investors are repaid in line with those contracts. Investors’ money would always remain entirely separate to Leap’s money throughout any run-off process.
All accounts are secured should we cease to trade
Investor and borrower accounts will at all times be held by one of the major UK high street banks and legally separate from Leap’s accounts. It is currently held by Natwest Bank plc. This ensures that should Leap cease to trade, the money held in your account will not be considered to be part of Leap’s assets.
How we manage the platform and our communications with you
As we are an online trading platform, we take extra care to ensure that all information we hold is stored safely and securely. We hold regular backups to ensure that if anything goes wrong it can be resolved quickly and securely. We also ensure that all communications with us through the platform are secured using an encrypted connection. This means that data transmitted from you to us, or vice versa, uses the highest level of authentication.