Author Topic: Lending robot  (Read 38353 times)

faeriering

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Lending robot
« on: November 17, 2013, 08:23:51 AM »
Hey guys,

I saw this while reading through the news this morning:  www.lendingrobot.com
I like IR, but I was wondering if anyone had heard about/used this site.  The encryption sounded good, but I'm not an encryption person so it might have all been fluff.

Peter have you covered this site on your blog?  I'm really kind of surprised that someone is out there offering services (for a fee) for LC and they aren't on this forum . . . is there another place for news.  Obviously I'm spending too much of my research time with Renton filtered content :).

Peter I do love your site!

Thanks!
megan

giladg

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Re: Lending robot
« Reply #1 on: November 18, 2013, 06:03:22 PM »
Hi Megan,
My name is Gilad Golan, and I'm the founder and CEO of LendingRobot. LendingRobot  (https://lendingrobot.com/) is pretty new; we've been working on it  for a while, and last week it came out of beta, where we made multiple improvements based on feedback from real users. We're welcoming all LendAcademy readers to give it a try, and would love to hear your feedback and suggestions.

Regarding your question about security - we take security very seriously (note about my background: a few years ago I sold my data security startup to Microsoft). Your LendingClub credentials are strongly encrypted, and protected by multiple protection tiers.

Regards,
Gilad.
« Last Edit: November 18, 2013, 06:08:43 PM by giladg »

Paisan

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Re: Lending robot
« Reply #2 on: November 18, 2013, 06:35:07 PM »
Pretty Slick interface for the "Lending Club Explorer" tab.

Do I need to give my LC login to sign up & check out your filters?

Can I get an invitation link?

Ciao
« Last Edit: November 18, 2013, 06:38:21 PM by Paisan »

TonySaunders

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Re: Lending robot
« Reply #3 on: November 18, 2013, 06:46:06 PM »
I'm in line to sign up.

I want an invitation link as well.

giladg

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Re: Lending robot
« Reply #4 on: November 18, 2013, 08:23:16 PM »
To start investing with LendingRobot, please leave your email at https://lendingrobot.com/accounts/signup/, and expect to receive an invitation link in a few days.
We are ramping up gradually while carefully monitoring our scale and performance and ensuring we continue to meet our benchmarks; our goal is to submit investment orders for all our users no later than 30 seconds after LendingClub releases new loans.

Gilad.

faeriering

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Re: Lending robot
« Reply #5 on: November 18, 2013, 09:15:16 PM »
Gilad,

Thanks for all the quick info.  I think I traded some emails with your partner.  I like the interface, and the idea.  I don't really feel like the filters offer the flexibility I need especially for getting to loans that I would be willing to blindly invest in.  Glad to hear about the data security.  If I could blend your work with the filtering options I have on IR (or lendstats or even excel) I'd be really interested in paying to get in on notes in 30 sec.

Good luck :)

Lovinglifestyle

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Re: Lending robot
« Reply #6 on: November 18, 2013, 09:39:46 PM »
My question is how many seconds does it take to get the notes in the shopping cart, before submission?

Aside from that, what megan said about the filtering options except that the ones I have on PeerCube are the most blindly reliable for me.  IR is secondary to PC for my purposes, but IR's individual loan detail page cache has fewer that don't show after the copy and paste exercise.

giladg

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Re: Lending robot
« Reply #7 on: November 18, 2013, 10:28:55 PM »
In choosing which filtering options to offer we tried to strike a balance between flexibility on one hand and simplicity/ease-of-use on the other hand. We fully expect to add more filtering criteria over time, but we'd rather do that based on investor feedback and demand rather than simply adding all the filters currently offered by LendingClub, which may result with  cluttered and confusing user interface.

So if there are any specific filtering options people are missing, we'd love to hear about those.

BTW, note that we offer the 'popular loans' filtering option, which for some people saves the need to do their own research and filtering; in a way, it is like "crowdsourcing the hedge funds". The way it works: a few seconds (typically 5 seconds) after new loans are released we take a snapshot of the loans, and rank them by popularity (who got the highest funding).
You can then include that as a parameter in your rules - for example, you can build a rule "invest in loans grade C,D,E,F, with loan purpose 'credit card refinancing', and that are in the top 10% of popular loans".

Gilad.

giladg

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Re: Lending robot
« Reply #8 on: November 18, 2013, 10:32:12 PM »
My question is how many seconds does it take to get the notes in the shopping cart, before submission?


Our goal is to have all orders, for all our users, fully submitted no later than 30 seconds after new loans are released.
Our data show that quite a few of the most popular loans are gone in seconds (we'll post more detailed info on that in the near future), therefore speed is critical to achieve higher returns.

Joleran

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Re: Lending robot
« Reply #9 on: November 18, 2013, 10:49:50 PM »
Our goal is to have all orders, for all our users, fully submitted no later than 30 seconds after new loans are released.
Our data show that quite a few of the most popular loans are gone in seconds (we'll post more detailed info on that in the near future), therefore speed is critical to achieve higher returns.

My personal experience is that 30 seconds is far too long - the cream of the crop are gone in less than 10 seconds, though sometimes some of them pop back up for a second or two as people later decline them in their carts. 

core

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Re: Lending robot
« Reply #10 on: November 18, 2013, 11:01:14 PM »
BTW, note that we offer the 'popular loans' filtering option, which for some people saves the need to do their own research and filtering; in a way, it is like "crowdsourcing the hedge funds". The way it works: a few seconds (typically 5 seconds) after new loans are released we take a snapshot of the loans, and rank them by popularity (who got the highest funding).

Interesting idea.  So if one single investor comes in and snatches up 70% of a loan in the first few seconds (possibly without even examining it), everyone else is going to jump on like a pile of football players who tackled the wrong guy. Heheh.   Oh and then it would be possible to use the shopping cart loophole to 'fake out' those using this approach, possibly as a diversion, without it costing a cent since the 70% could be tossed back.  Fun with with robots!

giladg

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Re: Lending robot
« Reply #11 on: November 19, 2013, 12:41:54 AM »
BTW, note that we offer the 'popular loans' filtering option, which for some people saves the need to do their own research and filtering; in a way, it is like "crowdsourcing the hedge funds". The way it works: a few seconds (typically 5 seconds) after new loans are released we take a snapshot of the loans, and rank them by popularity (who got the highest funding).

Interesting idea.  So if one single investor comes in and snatches up 70% of a loan in the first few seconds (possibly without even examining it), everyone else is going to jump on like a pile of football players who tackled the wrong guy. Heheh.   Oh and then it would be possible to use the shopping cart loophole to 'fake out' those using this approach, possibly as a diversion, without it costing a cent since the 70% could be tossed back.

It's easy to test for yourself if you want to use it as part of your strategy - at every investment round we publish the ranking of the most popular loans at https://lendingrobot.com/#/popular, so all you have to do is monitor that and see if you like the selection.
There is a lot of activity in the first few seconds, mostly by hedge funds and other institutional investors using automated tools - it would be very hard for any single investor to game the overall stats.

And again, this is an optional tool - if you are confident with your own criteria, you don't have to use it.

TonySaunders

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Re: Lending robot
« Reply #12 on: November 19, 2013, 12:27:25 PM »
Our goal is to have all orders, for all our users, fully submitted no later than 30 seconds after new loans are released.
Our data show that quite a few of the most popular loans are gone in seconds (we'll post more detailed info on that in the near future), therefore speed is critical to achieve higher returns.

My personal experience is that 30 seconds is far too long - the cream of the crop are gone in less than 10 seconds, though sometimes some of them pop back up for a second or two as people later decline them in their carts.

Agreed. 30 seconds is too slow. It's stupid, but it's the reality.

Emmanuel

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Re: Lending robot
« Reply #13 on: November 19, 2013, 12:58:57 PM »
Just to clarify, LendingRobot investment is usually much faster than 30 seconds.
For 'fast rules' (the ones not requiring first to gauge loans popularity), submission is most likely under 10 seconds.

ggnoob1337

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Re: Lending robot
« Reply #14 on: November 19, 2013, 01:37:29 PM »
Question on pricing...

"Only 0.49% of orders submitted. No setup fees, no monthly minimum."

So I get charged for the cost of the orders submitted, not just the notes that get issued? That could mean that if I deposit $450 a month into my Roth IRA that I end up getting charged based on an investment of $800 because of all of the loans that are cancelled or denied before they are issued and I get the money back to re-invest.

Other than that, I'm interested to check this out.