Emmanuel & giladg:
I used to live in Seattle for many years, near Mill Creek / Everett area, so it is nice to see people in this forum from the area.
I welcome new tools like yours to the P2P world. This is creating a healthy competition, which should be good for the end users. However, as investors, we owe it ourselves to do our due diligence. If you read this forum, many of us have been slightly burned with IR recently; and we certainly do not need another healthcare.gov situation.
1. Can you share your high level SLA (Service Level Agreement)?
- service availability (99.9% uptime?)
- notifications during outage
- bug fixes release (how soon after identified)
- customer refunds on SLA breaches
- capacity planning (get new hardware for each 1000 users)
2. Do you plan to provide an interface to the secondary market (FOLIOfn)?
3. Do you still plan to have the 30-second goal after this week's LC stealthy changes?
Fred, good questions - answers below:
1. Can you share your high level SLA (Service Level Agreement)?
- service availability (99.9% uptime?)
- notifications during outage
- bug fixes release (how soon after identified)
- customer refunds on SLA breaches
- capacity planning (get new hardware for each 1000 users)
As I wrote in a previous post - we don’t measure “uptime” in the traditional sense, as that’s not what our users care about; what they want to know is whether we hit all the times that LC releases new loans; and the answer is yes - we haven’t missed a single loan batch yet. We have had a few planned downtimes for maintenance or upgrades, never lasting more than a few minutes.
In general, we take service availability very seriously - you can check our own background in
https://lendingrobot.com/about to see that we have years of experience running internet scale services. Our service is heavily instrumented for operational monitoring; if something goes wrong, our phones immediately start beeping.
Customer refunds - we have no fixed monthly fees; customers only pay if and when we successfully invest for them in loans that met their strategy, so if we fail we’re simply not paid.
Bug fixes - we constantly upgrade and enhance the service; urgency and speed depend on the severity of the issue - if it’s a serious problem we’ll drop everything and push a fix ASAP.
Capacity planning - we operate the service on a cloud platform, so we can provision more capacity in minutes. We constantly monitor our capacity; we provision enough compute power so we can process all users’ accounts simultaneously.
2. Do you plan to provide an interface to the secondary market (FOLIOfn)?
It’s on our roadmap, but we can’t commit to a date yet.
3. Do you still plan to have the 30-second goal after this week's LC stealthy changes?
Absolutely; we strive to submit most orders faster than that. Keep in mind that orders that use our “popular loans” filter (
https://lendingrobot.com/#/popular) require a delay of a few seconds for popularity measurement; but they are still executed within the 30 seconds limit.
